Free Credit Reports Debut
WASHINGTON - (12/09/04) -- The three major credit bureaus werereporting heavy demand for free credit reports required in 13states beginning Dec. 1 under the new credit reporting law, knownas the FACT Act. Rollout of the free reports wasstaggered--starting in the western states--to allow the three majorcredit bureaus to cope with expected heavy demand. Representativesof the three bureaus, Equifax, Experian and TransUnion, said tensof thousands of consumers had requested free copies of their creditreports, used by credit unions and banks, among others, to gaugecreditworthiness. Under the new law consumers are allowed one freecredit report from each agency.