Credit checks Montana

Congress: Who-- in their right mind-- would go to the trouble of getting their credit report, and then not get their FICO score? Free credit reports were the best thing that ever happened to the credit checks Montana credit bureaus. Certainly, the FACT Act amendment to the FCRA (subsection 609(f)) will settle that one. On December 4, 2003, the President signed into law the Fair and Accurate Credit Transactions Act of 2003.

Eleven months later, on 11/8/04, in the Federal Register, the FTC solicited comments. The FTC's own press release said the law directed it to develop a "'fair and reasonable' fee for credit bureaus to charge consumers for a copy of their credit score beginning December 1, 2004," less than a month after soliciting comments. Three years after the FACT Act was signed into law, there was still no price. The FTC explained that Congress didn't set a deadline. find credit reports In a congressional hearing credit checks Montana on credit report disputes credit checks Montana in 2007, a Federal Trade Commission representative listed the fee determination under "Tasks still in progress," and submitted that the Commission credit checks Montana is "working" on it, and is committed to completing its task "as quickly as possible." In credit checks Montana response to congressional questioning, credit checks Montana the FTC representative said, "I think that we can come up with a timetable for completing the remaining tasks." (video, at 1:12:00) In the meantime, here's credit checks Montana all we've got: The Commission recognizes that the provisions of FCRA section 609(f) will become effective on December 1, 2004 without regard to whether the Commission has made a determination or given guidance on how it will determine whether a particular fee is fair and reasonable. how get free credit report

Although Congress has directed credit scores be available for a fair and reasonable fee as determined by the Commission, it did not impose a deadline for a determination nor has it required that the determination be made in any particular manner. Furthermore, there is no indication credit checks Montana that Congress meant to require regulated entities to make the required disclosures free credit checks Montana of charge. For these reasons, the Commission interprets credit checks Montana section 609(f) to allow regulated entities to charge a fee for required disclosures in advance of any specific Commission credit checks Montana determination or other guidance, so long as that fee is fair and reasonable.

Thus, absent additional Commission action on or before December 1, 2004, consumer reporting agencies must disclose credit checks Montana mortgage or educational scores to consumers and may charge a fair and reasonable fee for those disclosures. annual credit reports