Military Credit Monitoring

Résumé

The Federal Trade Commission ("FTC" or "Commission") is publishing for comment a proposed rule to implement the credit monitoring provisions applicable to active duty military consumers in section 302 of the Economic Growth, Regulatory Relief, and Consumer Protection Act, which amends the Fair Credit Reporting Act (FCRA). That section requires nationwide consumer reporting agencies to provide a free electronic credit monitoring service to active duty military consumers, subject to certain conditions. The proposed rule defines "electronic credit monitoring service," "contact information," "material additions or modifications to the file of a consumer," and "appropriate proof of identity," among other terms. It also contains requirements on how nationwide consumer reporting agencies must verify that an individual is an active duty military consumer.