The Law
Fair Credit Reporting Act
605B. Block of information resulting from identity theft [15 U.S.C. §1681c-2]
(a) Block. Except as otherwise provided in this section, a consumer reporting agency shall
block the reporting of any information in the file of a consumer that the consumer
identifies as information that resulted from an alleged identity theft, not later than 4
business days after the date of receipt by such agency of
(1) appropriate proof of the identity of the consumer;
(2) a copy of an identity theft report;
(3) the identification of such information by the consumer; and
(4) a statement by the consumer that the information is not information relating to any transaction by the consumer.
STATE OF EMERGENCY
The LAW is On Your Side
Legal Credit Sweep Identity Theft Solutions is the Nations leading Mission Driven Non-Profit Consumer Credit Advocate with IRC 501(c)(3) Designation.
Organized to provide EMERGENCY relief to ALL AMERICANS victimized by the increasing wave of identity theft by providing passionate Legal Consumer Credit Advocacy to ALL ALLEGED identity theft victims who’s financial lives are held hostage by hostel credit reporting agencies.
RELIEF FOR ALL AMERICANS.
We use the full power of the legal system in the interest of National Security, to fight against the TERROR tactics of the 3 major credit reporting agencies in this time of your personal state of emergency.
PATRIOT ACT
The Risk to Homeland Security from Identity Fraud and Identity Theft
“We recognize that SSA alone cannot resolve the monumental issues surrounding homeland security. Efforts to make our Nation safer will involve new or expanded initiatives by almost every segment of our population, including State and local governments, private industry, non-governmental organizations, and citizens. However, we also recognize that, in endeavoring to protect our homeland, no government system or policy should be ignored. As such, SSA, as a Federal agency and public steward, must continue its efforts to strengthen its systems and processes to minimize the use of SSNs for illegal purposes. We believe that SSN integrity is a link in our homeland security that must be strengthened and sustained”.
SSA.GOV
Credit Repair Organization Act
Credit Repair Organization
(3) Credit repair organization The term “credit repair organization”— (A) means any person who uses any instrumentality of interstate commerce or the mails to sell, provide, or perform (or represent that such person can or will sell, provide, or perform) any service, in return for the payment of money or other valuable consideration, for the express or implied purpose of— (i) improving any consumer’s credit record, credit history, or credit rating; or (ii) providing advice or assistance to any consumer with regard to any activity or service described in clause (i); and (B) does not include— (i) any nonprofit organization which is exempt from taxation under section 501(c)(3) of title 26 ; (ii) any creditor (as defined in section 1602 of this title ), with respect to any consumer, to the extent the creditor is assisting the consumer to restructure any debt owed by the consumer to the creditor; or (iii) any depository institution (as that term is defined in section 1813 of title 12 ) or any Federal or State credit union (as those terms are defined in section 1752 of title 12 ), or any affiliate or subsidiary of such a depository institution or credit union.
Fair Credit Reporting Act
The Act (Title VI of the Consumer Credit Protection Act) protects information collected by consumer reporting agencies such as credit bureaus, medical information companies and tenant screening services. Information in a consumer report cannot be provided to anyone who does not have a purpose specified in the Act. Companies that provide information to consumer reporting agencies also have specific legal obligations, including the duty to investigate disputed information. In addition, users of the information for credit, insurance, or employment purposes must notify the consumer when an adverse action is taken on the basis of such reports. The Fair and Accurate Credit Transactions Act added many provisions to this Act primarily relating to record accuracy and identity theft. The Dodd-Frank Act transferred to the Consumer Financial Protection Bureau most of the rulemaking responsibilities added to this Act by the Fair and Accurate Credit Transactions Act and the Credit CARD Act, but the Commission retains all its enforcement authority.
Equal Credit Opportunity Act
The Equal Credit Opportunity Act (ECOA) is a United States law (codified at 15 U.S.C. § 1691 et seq.), enacted 28 October 1974,[1] that makes it unlawful for any creditor to discriminate against any applicant, with respect to any aspect of a credit transaction, on the basis of race, color, religion, national origin, sex, marital status, or age (provided the applicant has the capacity to contract);[2] the applicant’s use of a public assistance program to receive all or part of their income; or the applicant’s previous good-faith exercise of any right under the Consumer Credit Protection Act. The law applies to any person who, in the ordinary course of business, regularly participates in a credit decision,[3] including banks, retailers, bankcard companies, finance companies, and credit unions.
The part of the law that defines its authority and scope is known as Regulation B,[4] from the (b) that appears in Title 12 part 1002’s official identifier: 12 C.F.R. § 1002.1(b) (2017).[5] Failure to comply with Regulation B can subject a financial institution to civil liability for actual and punitive damages in individual or class actions. Liability for punitive damages can be as much as $10,000 in individual actions and the lesser of $500,000 or 1% of the creditor’s net worth in class actions.[6]
Before the enactment of the law, lenders and the federal government frequently and explicitly discriminated against female loan applicants and held female applicants to different standards from male applicants.[7] A large coalition of women’s and civil rights groups pressured the government to pass the ECOA (and the Housing and Community Development Act of 1974) to prohibit such discrimination.
Fair and Accurate Credit Transactions Act
The Fair and Accurate Credit Transactions Act (“FACTA”) was a major piece of legislation passed by Congress to supplement the Fair Credit Reporting Act. Many of its provisions are designed to aid consumers who have been victimized by identity thieves and to prevent it. These provisions include:
Fraud alerts can be placed on credit files by the consumer.
Active duty alerts can be put on credit file for active duty military personnel.
A consumer must receive an adverse action notice if credit is granted at a less advantageous rate than others receive.
Consumers have a right to one free credit report annually.
The standard for furnisher accuracy has been changed from “knows or consciously avoids knowing” to a higher standard of “knows or has reasonable cause to believe” information is accurate.
Consumers may now dispute information and initiate investigations directly with furnishers of information such as credit card issuers. When a consumer submits a proper identity theft report, the furnisher cannot send or forward information to a credit bureau.
Third party debt collectors must report to a furnisher of information any identity theft that a debtor reports to them.
Credit and debit card numbers must be truncated on consumer receipts. Consumers can request that their social security number be truncation on their credit report.
Credit scores and how they are determined must be disclosed to consumers for a reasonable fee (to be determined by the FTC).
Consumers can prohibit the sharing of information by affiliates that will be used for marketing purposes.
A report to an employee by a third party investigator is no longer a consumer report, but employees must be given an adverse action report if any adverse action is taken based on the report.
Additional limits are placed on the sharing of information.
Community Action
Legal Credit Sweep Identity Theft Solutions is powered by the diligent, compassionate and tenacious labor of our non-profit, non-governmental, non-lawyer Community Emergency Response Team led by Board Certified Credit Consultants and Professional Legal Consumer Credit Advocates.
Hearing Entitled “An overview of the credit reporting system “.
Top House Democrat Calls on CFPB to restrict credit-reporting firm until proof of controls in place.
Wall Street Journal
Sign the Petition to Congress:
Join in this historic fight to overhaul the American Credit Reporting Agency.
To: Congress
From: [Your Name]
We need an overhaul of the American credit reporting system. I am calling on you to address the deeply racist and problematic nature of the credit reporting system by: creating a public entity to determine credit scores, enhance consumers’ credit reporting rights, hold private crediting reporting agencies accountable for their previous negligent actions that have harmed consumers, and create transparency over the consumer reporting process.
Sign the Petition to Congress
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Testimonials
UNBELIEVABLE, I made a mistake years ago with an ex, long story short, I was finally able to get the car he put in my name off my credit. LegalCreditSweep.org help when the police could'nt.
Tasha
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