In what year was FCRA permanently extended by FACTA?

The Fair Credit Reporting Act (FCRA) was originally enacted in 1970 to regulate the collection, dissemination, and use of consumer information, including consumer credit information. The Fair and Accurate Credit Transactions Act (FACTA), which was passed in 2003, significantly amended the FCRA. One of its key provisions was the permanent extension of certain consumer rights established under the FCRA.

The FACTA included several consumer protections and amendments, including measures to prevent identity theft and improve the accuracy of consumer reporting. This legislative change established significant updates and enhancements aimed at increasing transparency and consumer rights related to credit reporting.

Thus, the year 2003 is recognized as the year when the FCRA was permanently extended by the amendments introduced through FACTA, which aligns with the core objectives of modernizing the consumer credit reporting process and protecting consumer rights in response to evolving technological and marketplace changes.