Written By: Edward Jamison
Edward Jamison is a consumer credit Attorney that specializes in helping people, from all across the country, increase their credit scores. If you have any questions or are interested in hiring Edward, you can email him at JamisonLawGroup@aol.com.
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The Senate reauthorized the Fair Credit Reporting Act by a 95 to 2 vote on November 5th 2003 with the House following suit 392 to 30.
The overwhelming vote still had to deal with whether or not the federal law was going to pre-empt more strict state laws that go above and beyond the federal law in protecting consumers. Congress decided early December 2003 that the FCRA would pre-empt all state laws and would in fact prevent states from enacting stricter measures; making some lawmakers furious. Congress renamed the new law “The Fair and Accurate Credit Transactions Act”. The bottom line is that some states will benefit from this new legislation while others with more stringent protections in place, will not.
The most important areas covered by the new legislation are as follows:
Written By: Edward Jamison
