In 2003, President George W. Bush signed the Fair and Accurate Credit Transactions Act of 2003 (FACTA) to update the Fair Credit Reporting Act (FCRA).

If you are a consumer, please visit our consumer page for more details about your rights under this law.

Some of the changes you should pay particular attention to include:

• Your duty to provide a consumer a copy of his credit score and a "Notice to the Home Loan Applicant" under §609(g).
  
  
• Your duty to notify consumers if you grant a credit extension on material terms that are materially less favorable than the most favorable terms available to a substantial proportion of consumers that you serve, based on a consumer report under §615(H).
  
  
• Your duty to formulate policies and procedures to employ when receiving a notice of discrepancy in address under §605(H).
  
  
• Your duty to formulate policies and procedures to verify the consumer’s identity and confirm that the application is not the result of identity theft under §605A(H) and related duties under §615(e) and (f).
  
  
• Your duty to provide transaction records to persons claiming to be victims of identity theft under §609(e).
  
  
• Your duties to report accurate information to consumer reporting agencies under §623.
  
  
• Your duties to properly dispose of consumer information under §628.
  
  
• Amendments to the penalties for non-compliance under §618.
  
  

If you have any further questions, please contact our office at 570-824-7811, 2834, or visit the FTC website at http://www.ftc.gov to obtain more information on how to comply with this law.

United One Resources has created an informative handbook to guide your compliance efforts. To download this handbook, click here .

A member of United One Resources' team would be pleased to talk with you about this or any of our risk management information services in more detail. Please contact our office at 800-WE-CLOSE, ext. 2839, or send an e-mail to info@unitedoneresources.com.