FACT Act Policy

Corky Corley, Compliance Officer for Hinsdale Bank & Trust Co in Hinsdale, IL, saw a need to be proactive and address a need for internal guidance on the Fair and Accurate Credit Transactions Act. She produced this 27 page template and decided to it share with her fellow BOLers.

• summary of the law,
• policy statement,
• sections on ID theft procedure,
• fraud and active duty alerts,
• notice of action taken regarding pricing,
• responsibility of furnishers of credit information,
• disclosure of credit scores,
• sharing information with affiliates,
• protection of medical information
• more, and forms.

This may be a stand alone document for you, tweaked as more of the regulation is released, and/or added to your FCRA Policy.