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The Fair and Accurate Credit Transactions Act of 2003 (FACT Act or FACTA, Pub. L. 108–159 (text)) is a U.S. federal law, passed by the United States Congress on November 22, 2003, [1] and signed by President George W. Bush on December 4, 2003, [2] as an amendment to the Fair Credit Reporting Act.
The FTC was established in 1914 by the Federal Trade Commission Act, which was passed in response to the 19th-century monopolistic trust crisis. Since its inception, the FTC has enforced the provisions of the Clayton Act, a key U.S. antitrust statute, as well as the provisions of the FTC Act, 15 U.S.C. § 41 et seq.
The vast majority of FTC members have been individuals with legal backgrounds, with notable exceptions. President Ronald Reagan appointed the first two professional economists, James C. Miller III [ 53 ] and George W. Douglas , [ 54 ] to serve on the body.
Michigan consumers are getting hit hard by fraud: Michigan consumers reported losing $151.7 million in 2023 to all types of fraud and scams, according to the Consumer Sentinel Network Data Book ...
The Red Flags Rule was created by the Federal Trade Commission (FTC), along with other government agencies such as the National Credit Union Administration (NCUA), to help prevent identity theft. The rule was passed in January 2008, and was to be in place by November 1, 2008, but due to push-backs by opposition, the FTC delayed enforcement ...
Customers duped by a California mortgage broker's ads for low mortgage rates are receiving refund checks from the Federal Trade Commission (FTC). Chase Financial Funding Inc. -- which now does ...
According to the Better Business Bureau, crypto-related fraud is now among the most common financial scams. Criminals often target older consumers, with the FTC noting that people age 60 and over ...
The Consumer Financial Protection Bureau (CFPB) is an independent agency of the United States government responsible for consumer protection in the financial sector.CFPB's jurisdiction includes banks, credit unions, securities firms, payday lenders, mortgage-servicing operations, foreclosure relief services, debt collectors, for-profit colleges, and other financial companies operating in the ...