FTC Warns 18 Websites of ‘Free Credit Reports’ Rule

Free credit reportsThe Federal Trade Commission has sent “warning letters” to 18 websites that claim to offer free credit reports, alerting the owners that they must comply with a new disclosure law.
The FTC’s amended Free Credit Reports Rule took effect April 2 and requires disclosing the official website where consumers are entitled to one free credit report from each of the three credit bureaus: AnnualCreditReport.com.
The disclosures must also include a link to the official website, and one to FTC.gov, across the top of each web page that mentions “free credit reports.”
The FTC’s tougher rule seeks to end misleading ads that say they offer free credit reports – when the offer is actually tied to credit monitoring services at a monthly cost.
Violators are subject to legal action that can result in penalties of up to $3,500 per violation, the FTC said.
See the list of websites that have received FTC warning letters.
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