Credit Repair – Your Legal Rights Under the FACT Act

In 2003, the U.S. Congress passed the Fair and Accurate Credit Transactions Act. This article looks at your legal rights under the FACT Act. There are three main regulations in the FACT Act. First, financial institutions are required to develop and implement Identity Theft prevention pro grams for both new and existing accounts. The identity theft programs must have policies and procedures to detect, prevent, and mitigate identity theft.