FACT Act Policy
Corky Corley, Compliance Officer for Hinsdale Bank & Trust Co in Hinsdale, IL, saw a need to be proactive and address a need for internal guidance on the Fair and Accurate Credit Transactions Act. She produced this 27 page template and decided to it share with her fellow BOLers.This includes:
- summary of the law,
- policy statement,
- sections on ID theft procedure,
- fraud and active duty alerts,
- notice of action taken regarding pricing,
- responsibility of furnishers of credit information,
- disclosure of credit scores,
- sharing information with affiliates,
- protection of medical information
- more, and forms.
This may be a stand alone document for you, tweaked as more of the regulation is released, and/or added to your FCRA Policy.
First published on 02/01/2005