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FTC sets out timetable for handing out free credit reports

President Bush, in December 2003, signed into law the Fair and Accurate Credit Transactions Act. This gives all U.S. consumers a new federal right to obtain one free credit report every year from each of the three national credit bureaus.

An article in sfgate.com has this to say about the timetable:

When does this start? Unfortunately, not as soon as most consumers would like. Congress gave the FTC the authority to create a phased-in availability schedule to prevent the bureaus from being overwhelmed with requests.

The FTC proposes a west to east rollout beginning Dec. 1. Arizona, California, Colorado, Nevada, Oregon and Washington residents will get first crack at free reports on that date.

Next will come Midwestern residents (including Illinois, Michigan, Minnesota, Ohio, Wisconsin and Nebraska, among others) on March 1. Southern states (including Florida, Texas, Georgia, Oklahoma, South Carolina and Tennessee) will become eligible June 1, 2005.

Eastern states from North Carolina through Virginia, the District of Columbia, Maryland, Pennsylvania, New Jersey, New York and all of New England will phase in on Sept. 1, 2005.

Category: Consumer Tips
Posted on March 28, 2004 at 09:12 AM | Permalink

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