Multiple choice general knowledge

Which Act in US allows the consumers to request and obtain a free credit report once every twelve months from each of the three nationwide consumer credit reporting companies

  1. Fair Credit Reporting Act

  2. Fair Debt collection practices act

  3. Fair and Accurate Credit Transactions Act

  4. Federal trade commission Act
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The Fair and Accurate Credit Transactions Act (FACT Act) of 2003 established the right for U.S. consumers to obtain a free credit report annually from each of the three major credit bureaus. The Fair Credit Reporting Act (FCRA) regulates credit reporting but didn't create the free annual report provision. The FACT Act amended the FCRA to add this consumer benefit.

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