The Federal Trade Commission (FTC) seeks public comments on its shared enforcement with the Consumer Financial Protection Bureau (CFPB) regarding consumer reporting agencies' responsibilities under a specific rule. This rule ensures consumers can request a free annual file disclosure from nationwide consumer reporting agencies. The FTC estimates that there will be about 21 million requests for these reports each year. The FTC is also asking for comments on the effectiveness and accuracy of these procedures and the potential ways to improve them. Comments must be submitted by April 14, 2025.
Simple Explanation
The FTC wants people to tell them if things are working well when getting free yearly credit reports from big companies that share your credit information, as they work with another group called the CFPB. They also want to know if there are ways to make this process better.