Which law was amended by the Fact Act?

The Fact Act, formally known as the Fair and Accurate Credit Transactions Act of 2003, made significant amendments to the Fair Credit Reporting Act (FCRA). One of the primary purposes of the Fact Act was to enhance consumer protections regarding the accuracy and privacy of information provided by credit reporting agencies. It introduced provisions that allow consumers to obtain free annual credit reports, among various other improvements aimed at reducing identity theft and increasing transparency in credit reporting.

The other laws mentioned, while important in the realm of consumer protection and credit, were not amended by the Fact Act. The Truth in Lending Act focuses on the disclosure of consumer credit terms, the Equal Credit Opportunity Act addresses discrimination in credit lending, and the Consumer Credit Protection Act encompasses a wider range of consumer credit regulations but is not directly connected to the amendments made by the Fact Act. Thus, recognizing that the Fact Act specifically targeted the FCRA is critical in understanding its significance within consumer credit legislation.