Recent Amendments to the FCRA, Part 2
oRules prohibiting the use of medical information in underwriting decisions.
Creditors cannot use or obtain medical information unless the information is obtained and used pursuant to a specific federal banking agency, FTC, or state insurance agency regulation permitting such use.
oBureau and furnisher interface requirements.
Bureaus are required to notify furnishers when they receive a report of identity theft, and furnishers are required to modify or delete information resulting from identify theft.
Furnishers are also required to provide notice to consumers that they intend to report negative information.
oProvision for fraud alerts.
It used to be that this was only available to California residents, but now all consumers may place a fraud alert on their credit files.
A fraud alert notifies users of a credit report that the consumer may be a victim of identity theft and requires such users to take specific steps to obtain authorization from the consumer before establishing new credit or raising a credit limit on behalf of that consumer.
oProvision for active duty alerts.
Military personnel can request that the bureaus place an active duty alert on their credit files.
This notifies users of a report that the consumer is an active-duty member of the military and requires such users to take specific steps to obtain authorization from the consumer before establishing new credit or increasing a credit limit on behalf of that consumer.
oNew receipt handling rules for merchants.
Businesses that accept payment by credit (or debit) cards are prohibited from printing more than the last five digits of the account number and the expiry date.
oID theft remedies.
Businesses that have extended credit to someone who used a fake identity to obtain such credit must provide the ID theft victim with copies of the thief's application and any related business records.
Now that you understand some of the basic rules of the FCRA and how to go about enforcing them, it should be clear that there are many laws to protect you and a great deal of recourse available to you.
As such, you don't need to recruit others to help you; you just need to have the intestinal fortitude to force the reluctant compliance of others.
Creditors cannot use or obtain medical information unless the information is obtained and used pursuant to a specific federal banking agency, FTC, or state insurance agency regulation permitting such use.
oBureau and furnisher interface requirements.
Bureaus are required to notify furnishers when they receive a report of identity theft, and furnishers are required to modify or delete information resulting from identify theft.
Furnishers are also required to provide notice to consumers that they intend to report negative information.
oProvision for fraud alerts.
It used to be that this was only available to California residents, but now all consumers may place a fraud alert on their credit files.
A fraud alert notifies users of a credit report that the consumer may be a victim of identity theft and requires such users to take specific steps to obtain authorization from the consumer before establishing new credit or raising a credit limit on behalf of that consumer.
oProvision for active duty alerts.
Military personnel can request that the bureaus place an active duty alert on their credit files.
This notifies users of a report that the consumer is an active-duty member of the military and requires such users to take specific steps to obtain authorization from the consumer before establishing new credit or increasing a credit limit on behalf of that consumer.
oNew receipt handling rules for merchants.
Businesses that accept payment by credit (or debit) cards are prohibited from printing more than the last five digits of the account number and the expiry date.
oID theft remedies.
Businesses that have extended credit to someone who used a fake identity to obtain such credit must provide the ID theft victim with copies of the thief's application and any related business records.
Now that you understand some of the basic rules of the FCRA and how to go about enforcing them, it should be clear that there are many laws to protect you and a great deal of recourse available to you.
As such, you don't need to recruit others to help you; you just need to have the intestinal fortitude to force the reluctant compliance of others.
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