Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

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
.@LACULeague in @DailyComet: #creditunions' "old" benefits attractive to new generation http://t.co/AzOv3nB7IB
9 hours ago
At @FTC request, court halts operations of an alleged debt-relief scammer calling itself “FTC Credit Solutions.” http://t.co/qMsDBmKExH
14 hours ago
.@daytondailynews : The secret is out about #creditunions http://t.co/Aqu3pFTROV @DayAirCU @CODECreditUnion
14 hours ago
.@CUNA's @Nussle on @SenatorReid :(2of2)On behalf of more than 102M #CU members,I thank him 4 his leadership over the yrs/wish him the best.
16 hours ago
.@CUNA CEO Nussle on Sen. Reid’s decision not 2 seek re-election (1of2): Sen. Reid has a long history of #CU support throughout his career.
16 hours ago