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[SS Fed] Fair and Accurate Credit Transactions Act

Course Description

In 2003, Congress added provisions to the Fair Credit Reporting Act with the enactment of the Fair and Accurate Credit Transactions Act (FACTA). Congress adopted these additional provisions in order to address the problem of identity theft, to facilitate consumers' access to the information retained by consumer reporting agencies (CRAs), and to improve the accuracy of consumer reports. The Red Flags Rule, a measure included in FACTA, was adopted in 2010 to further address identity theft. This course provides an overview of FACTA, including important definitions, required disclosures and notifications, and provisions related to the Red Flags Rule.
20 Minutes
Series: Mortgage Lending
Roles: Mortgage Professionals, Operations & IT
Course Format: Online Self-Paced
Package: Breakthrough

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