FACTA: Extended Fraud Alerts

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FACTA: Extended Fraud Alerts

Postby Administrator » Sun Oct 02, 2005 7:12 pm

Extended fraud alerts. Section 605A also provides that a consumer may include an extended fraud alert that lasts for 7 years by submitting an identity theft report to a nationwide consumer reporting agency. As with the fraud alert, the agency must refer the alert to the other nationwide agencies, and they all must provide the alert each time they generate the consumer’s credit score. In addition, the agencies must exclude the consumer from any lists generated to sell to users for transactions not initiated by the consumer (prescreening lists) for 5 years and must notify the consumer of the consumer’s right to 2 free credit reports within 12 months of the request. As with the fraud alert, an agency must provide the consumer’s file to the consumer within 3 business days of the consumer’s request.

Return to “FCRA Statute And Amendments: 15 U.S.C. 1681, et. seq.”

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