Industry Warns of New Obligations, Liabilities Under ‘Furnisher’ Rule
January 11, 2010
A tsunami of new “furnisher” rules under the Fair and Accurate Credit Transactions Act of 2003 is slated to swamp the industry in mid-2010. Published on July 1, 2009, the final rules implement a FACTA amendment to the Fair Credit Reporting Act which requires federal banking agencies and the Federal Trade Commission to issue rules and guidelines to enhance the accuracy...