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  • About
    • Membership
    • News
    • Boards and Committees
    • Alice Dittman Trailblazer Award
    • NBA Foundation
    • Leadership Program
    • Staff Directory >
      • Contact Us
  • Workforce
    • Careers
    • Post Job Openings
  • Advocacy
    • Legislative Update
    • BankPAC
    • Comment Letters
  • Compliance
    • Handbook
    • Compliance Update
    • Compliance Alliance
  • Education
    • Event Calendar
    • In-person Events/Training
    • Webinars
    • ABA Training
    • Banking Schools
    • CYBERSECURITY TRAINING
    • Sponsorships and Exhibits
    • Young Bankers (YBON)
  • Insurance
    • Agency Services >
      • Commercial Insurance
      • Personal Insurance
      • Livestock, Irrigation and Farm Insurance
      • Surety Bonds
    • Bank Property & Liability
    • Financial Institution Insurance
    • Benefit Plans
  • Bank Resources
    • Preferred Vendors
    • Associate Members
    • Marketing Resources
    • Financial Literacy
    • Single Bank Pooled ​Collateral Program
    • Bank Security
    • Compensation & Benefits Survey

FACT ACT - FREE CREDIT REPORTS

The FACT Act amended the Fair Credit Reporting Act by requiring all nationwide consumer reporting agencies to provide consumers, upon request, a free copy of their credit report once during every 12 month period.  Beginning December 1, 2004, the free report requirements were phased-in as follows:

 

  • Beginning December 1, 2004:  Western states (Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington, Wyoming);
  • Beginning March 1, 2005:  Midwestern states (Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, and Wisconsin);
  • Beginning June 1, 2005:  Southern states (Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, Oklahoma, South Carolina, Tennessee and Texas); and
  • Beginning September 1, 2005:  Eastern states (Connecticut, Delaware, District of Columbia, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, Vermont, Virginia and West Virginia), Puerto Rico and all U.S. territories.


A model form entitled “Request for Free Credit Report” has been issued (found in 16 C.F.R. 690, Appendix D) in order to comply with the law.  In addition, a centralized source has been established so that consumers may make one request to obtain free credit reports (the annual file disclosures) from all nationwide consumer reporting agencies by phone, mail or over the Internet (www.annualcreditreport.com).  The address is Central Source LLC, P.O. Box 105283, Atlanta, GA  30348-5283.  The telephone number is (877) 322-8228.

A consumer education brochure was published by the Federal Trade Commission (FTC) that explains consumer rights and how to obtain the free credit reports.  The brochure is available on the Internet at http://www.ftc.gov/freereports.

 

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Nebraska Bankers Association

233 South 13th Street, Suite 700
Lincoln, NE 68508
​402-474-1555
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