22.214.171.124 The Credit CARD Act Amendments to the FCRA
In 2009, Congress enacted the Credit Card Accountability, Responsibility and Disclosure Act.323 As part of these reforms of the credit card industry, Congress added two provisions to the FCRA.
The first amendment addressed deceptive practices in the marketing of credit reports by CRAs.324 This provision requires that any advertisement for a “free” credit report must display a notice that free credit reports are available pursuant to federal law at annualcreditreport.com.325
The second provision restricted the use of prescreened credit reports to make “firm offers of credit”326 to young consumers. This provision prohibits CRAs from furnishing prescreened reports on consumers younger than twenty-one years of age.327
323 Pub. L. No. 111-24 (2009).
324 See § 126.96.36.199, infra (discussing CRA marketing of “free credit reports” that automatically convert into paid credit monitoring services).
325 15 U.S.C. § 1681j(g), as added by Pub. L. No. 111-24, § 205 (2009). See also 12 C.F.R. § 1022.138. See generally § 188.8.131.52, infra.
326 See § 7.3.3, infra (discussing prescreened credit reports).
327 15 U.S.C. § 1681b(c)(1)(B)(iv), added by Pub. L. No. 111-24, § 302 (2009). See § 184.108.40.206, infra.