Thursday, October 22, 2009

FTC Seeking Comments for 2010 Changes on Free Credit Reports

By Faye Mergel
Posted by Jonathan Tse

The Federal Trade Commission (FTC) is changing the way “free” credit reports are marketed. Federal regulators say changes will be in line with the new Credit Card Responsibility and Disclosure (CARD) Act of 2009. The bill was first signed by President Barack Obama on May 22, 2009 with the aim of protecting consumers from onerous fees imposed by creditors. CARD Act also aims at assuring that consumers fully enjoy their rights, including the right to a free credit report once in every twelve months.

Fair Credit Reporting Act (FCRA) entitles every consumer free access to his records with the three major credit reporting agencies (CRAs). The CRAs, Equifax, Experian, and TransUnion, are mandated by federal law to give consumers their free report once a year so they can assess their debt standings. This would help them make better financial decisions since it lets consumers know how well they are doing with their debt management.

However, FTC received several complaints from consumers who are misdirected from the FTC-backed As noted by complainants, they were misdirected from and ended up in commercial sites which claim to offer free credit reports. But it is only after engaging in irreversible deals that they found out about fees charged along their records.

Click here to read more


  1. it's funny how most people do not realize all the hidden fees from these "free" credit reports could upset them. I think that it might costs less to actually purchase a credit report instead of going through these "free" credit reports. My friends lost a lot of money due to these free credit reports.
    Quang Nguyen

  2. Here are some ways on how to lose weight fast using motivational techniques.
    By putting our weight loss tips and resources to use.
    After your routine, stretch again for another 5 minutes to cool down.
    Sometimes the need to lose weight fast doesn't translate into keeping the pounds off.

    My site :: how to lose weight fast and healthy

  3. This worked for the remaining 8 weeks (mainly because I
    never took the band-aids off long enough to go at it. It
    does work, but I still treat myself to manicures to ensure that my hands always look good.
    The old British maxim states that ‘Knowing your enemy is battle half won’.

    Visit my website: How to stop biting nails

  4. I can't tell you how fast you will see results because it depends on how much you want to get rid of acne. For extra guidelines, facts and goods about how to get rid of acne please see this writer Bio below:. Extended hair can cause your physique pimples to get worse if you do not wash it typically, and make confident that it is genuinely cleanse.

    Here is my site; how to get rid of warts around fingernails

  5. Last but not the least, check the time commitments and before getting into any
    contracts with any of the vendors in category web design Newcastle, do carefully go
    through the agreement clauses. People and businesses around
    the world connect through the World Wide Web on a continuous
    basis. Having an expert help you manage your site will enable
    you to employ the best advantage internet can give and reach
    out to millions of market prospects all over the world 24 hours a day and
    7 days a week.

    Here is my web page ... web design applications for mac

  6. Howdy! I just want to offer you a huge thumbs up for your excellent information you've got here
    on this post. I will be coming back to your site for more soon.

    Here is my site: wall to wall carpet