Saturday, July 31, 2004
Free Reports from Bad Check Blacklisters
The FTC has made it official. Effective December 1, 2004, nationwide specialty consumer reporting agencies – including agencies that maintain specific files on consumers about their check writing and banking history – must have a toll-free telephone number that you can call to request a free copy of anything they report on you. You are entitled to a free report once every 12 months.
The catch with the FTC ruling pertaining to check tracking companies is that it only applies to nationwide companies such as Telecheck or Chexsystems.
Because even the FTC couldn't figure out what was up with companies that work locally, the little guys are exempt from this latest regulation. You still have a right to see their report under the Fair Credit Reporting Act but it won't be free.
The catch with the FTC ruling pertaining to check tracking companies is that it only applies to nationwide companies such as Telecheck or Chexsystems.
Because even the FTC couldn't figure out what was up with companies that work locally, the little guys are exempt from this latest regulation. You still have a right to see their report under the Fair Credit Reporting Act but it won't be free.
# posted by AmandaWelsh @ 11:28 AM 
