Effective Dates
The FACT Act was enacted by the U.S. Congress and signed into law by the President on December 4, 2003. The purpose of the law is to: assist consumers in combating identity theft; increase consumer reporting accuracy; provide greater consumer control over the type and amount of marketing solicitations; and restrict the use and disclosure of sensitive medical information. The following chart contains a summary of the effective dates of several provisions of the Fair and Accurate Credit Transactions Act of 2003 (“FACT Act”).
FACT Act Section
Subject Matter
Effective Date
§ 112
Fraud & Active Duty Alerts
December 1, 2004.
§ 113
Truncation of Numbers
For existing machines – December 2006.
For new machines – December 2004.
§ 114
Red Flag Guidelines & Regulations
§ 151
Application/Transaction Information to Victims of Identity Theft
June 4, 2004.
§ 152
Blocking of Information Resulting from Identity Theft
§ 154(a)-(b)
Prevention – Repollution of Consumer Reports
§ 155
Debt Collector Communications
§ 211
Free Credit Reports – Notice & Request
§ 212(c)
Disclosure of Credit Scores
§ 213
Opt-out – Prescreened Lists
August 1, 2005.
§ 216
Disposal of Consumer Report Information
July 1, 2005.
§ 217
Notice of Negative Information
§ 222
Sharing Information with Affiliates
March 31, 2004.
§ 311
Risk-Based Pricing Notice
§ 312(a)
Furnishers’ Responsibilities: Accuracy & Integrity
§ 312(c)
Consumer’s Ability to Dispute Information with Furnisher
§ 315
Reconciling Addresses
§ 411
Medical Information Consumer Protection
Interim regulations effective March 7, 2006.
§ 603
Fraud & Activity Alerts