Hate it when free credit reports aren't free? Tell the feds
Federal trade regulators are changing the rules regarding how "free credit reports" are marketed, as required under the Credit CARD Act of 2009. And they want to hear from you.
FORT LAUDERDALE, Fla. - Federal trade regulators are changing the rules regarding how "free credit reports" are marketed, as required under the Credit CARD Act of 2009. And they want to hear from you.
The Federal Trade Commission is collecting comments on their proposed changes through Nov. 30. To submit electronically, go to http://public.commentworks.com/ftc/FreeCreditReportNPRM/. Or write: FTC, Office of Secretary, Room H-135 (Annex T), 600 Pennsylvania Avenue NW, Washington, D.C. 20580.
Among the agency's suggestions: Private companies that use "free credit report" in their name would be required to first send customers to a page explaining they are not AnnualCreditReport.com, the federally mandated centralized source.
The FTC also recommends that sponsor links from major credit bureaus, like Equifax, be removed from all free credit report sites, as consumers have complained they are irritating and confusing. And any teasers for additional products, such as credit monitoring, could not be offered until the consumer had received the free credit report.
The agency will issue the new regulations by Feb. 22, 2010.
(c) 2009, Sun Sentinel
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