Image via Wikipedia
The Federal Trade Commission has issued warnings to 18 websites offering “free” credit reports. The FTC expects each to more clearly disclose the consumer’s right to a free annual credit report under federal law.
According to a press release these warnings were in response to the recent FTC’s amended Free Credit Reports Rule (effective April 2, 2010). This amendment requires that credit report providers more clearly distinguish between “free” credit reports that require the buying of additional services (i.e., credit monitoring) and the federally mandated free annual credit reports available to consumers at AnnualCreditReport.com or 877-322-8228.
The FTC warnings specifically mandate that a disclosure and links to AnnualCreditReport.com and FTC.gov be displayed across the top of each page mentioning free credit reports, throughout the websites. Violations are subject to penalties of up to $3,500 per violation.
The FTC disclosed the following as recipients of these warning letters:
National Credit Report.com LLC
Quinstreet, Inc.
MyCreditCenter.com, Inc.
Vertue, Inc.
- My3BureauCreditReport.com
- FreeScore.com
- Free3BureauCreditReport.com
- FreeTripleCreditScore.com
- FreeOnlineReportNow.com
ConsumerTrack, Inc.
ConsumerDirect, Inc.
Mighty Net, Inc.
Amie Nguyen
Amanda Raab
FTC offers it’s own, tongue and cheek public service website and advertising for free credit reports:
About Editor