Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
New FCRA allowable-charge ceiling announced
WASHINGTON (12/31/09)—As of Jan. 1, 2010, the Federal Trade Commission (FTC) ceiling on allowable charges under Section 612 Fair Credit Reporting Act (FCRA) drop to $10.50, down from the $11 ceiling this year. Section 612 of the FCRA covers when a consumer has a right to get a free credit report and 612(f) addresses the cost that a credit bureau can charge a consumer for a credit report that it doesn't have to give for free. Since 1996, the FTC has been required to increase an $8 figure referred in the law on Jan. 1 each year to reflect changes in the Consumer Price Index (``CPI''). According to the FTC, the CPI increased 33.98% between the 1997 FCRA effective date and September 2009. “This increase in the CPI, and the requirement that any increase be rounded to the nearest fifty cents, results in a maximum allowable charge of $10.50 effective January 1, 2010,” the FTC noted in it Federal Register document published Wednesday. Use the resource link below for more.
Other Resources

RSS print
News Now LiveWire
African financial inclusion possible with mobile money: @IMFNews study http://t.co/0V5DTQToxY
23 minutes ago
Louise Herring's birthday is Saturday. 105 years later, her legacy lives on through her kids http://t.co/oMqGADmo0d http://t.co/T3NmS9NqEY
1 hours ago
#Creditunions in PA and NJ hosted retirement fairs this week @PCUA and @NJCUL report.
1 hours ago
.@TheCCUL's Radebaugh suggests 2nd #RBC comment period in letter to @TheNCUA #NewsNow http://t.co/RylFuynT6g
2 hours ago
#NewsNow today Herring legacy carried forward with merger http://t.co/oMqGADmo0d
4 hours ago