FACTA (Fair and Accurate Credit Transactions Act)

Passed in 2003, the Fair and Accurate Credit Transactions Act enables consumers to request a free credit report from the top three credit reporting companies. These free credit reports can only occur once every twelve months.

Related Terms

  • ACH Credit

    An ACH credit occurs when the receiver’s account is credited.

    Learn More

  • PBR (Consumer Cross-Border Payment)

    A PBR entry is a debit or a credit entry to or from the account of a consumer where the participants are in two different countries.

    Learn More