FTC seeking comments about credit reports
Published: October 13, 2009
WASHINGTON I've been meaning to pull my credit reports for some time.
I, like so many others, am concerned about identity theft or uncorrected errors in my credit files that might ding my credit scores.
When I finally got around to it, I knew to go to AnnualCreditReport.com or call (877) 322-8228. I haven't been fooled by those ubiquitous commercials for FreeCreditReport.com with the goofy guy playing a guitar and complaining about how his life is messed up because he didn't check his credit report.
But the Federal Trade Commission has received many complaints from consumers who were misdirected from the official centralized site. Every person is entitled to a free credit report every 12 months from each of the three nationwide consumer reporting agencies -- Equifax, Experian and TransUnion.
In an effort to help keep people from ending up on impostor sites or falling for promotions for free credit reports that aren't really free, the FTC is seeking public comment on proposed amendments to the free-report rule.
During the next two months, you'll have a chance to weigh in on the FTC's rulemaking effort. These rules will dictate how you get your credit reports.
On one important rule, the FTC has it only partly right.
The agency wants to prevent the credit bureaus from offering any product or service until after consumers get their free reports. The law currently permits the credit-reporting agencies to advertise their proprietary products and services through the centralized source, in this case AnnualCreditReport.com.
Once you've followed directions and entered personal information intended to make sure you are who you say you are, you will encounter advertising for credit scores and credit-monitoring services. Then you have to decline the offers before obtaining your truly free credit report.
The FTC is proposing that any advertising or marketing for products or services through the centralized source be delayed until after consumers have obtained their reports through phone, mail or Internet requests.
The agency is also proposing that the credit bureaus remove the hyperlinks to their specific Web sites from AnnualCreditReport.com.
Another proposed rule would require that companies prominently inform consumers that they haven't landed on the official free-report site. For example, the FTC says that if a Web site advertises a free credit report, the other site must send the consumer to a separate landing page with the required disclosure: "This is not the free credit report provided for by federal law."
One amendment would require audio disclosures about the official free reports to be delivered in a slow and deliberate manner.
To read the text of the Federal Register notice with all the proposed changes, go to http://www.ftc.gov. Comments must be received by Nov. 30.
To submit your comments, go to http://public.commentworks.com/ftc/FreeCreditReportNPRM. Comments on paper should be mailed or delivered to Federal Trade Commission, Office of the Secretary, Room H-135 (Annex T), 600 Pennsylvania Ave. NW, Washington, D.C. 20580.
Michelle Singletary welcomes comments and column ideas but cannot offer specific personal financial advice. Readers can write to her c/o The Washington Post, 1150 15th St. NW, Washington, DC 20071, or e-mail her at
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