American Land Title Association
Print Friendly
Home  >  News Room
News Room

SoftPro is the nation's leading provider of Real Estate Closing and Title Insurance software

North American Title Insurance Company is a seasoned title insurance underwriter that has been helping customers achieve the American dream of homeownership for more than 50 years. In the past several years, we have become known as the “underwriter next door,� because our associates are always easy to reach and our processes are, at all times, quick and straightforward. Our agency application process is fast and transparent for qualified agents. NATIC offers a one-hour underwriting response guarantee that is unparallelled in our industry. In addition, we value our agents based on their title industry knowledge and experience, not just on profits alone.

Government News

Federal Reserve Board and FTC Issues Fair Credit Rule

February 19, 2004

   Related Information
Effective Dates for the Fair and Accurate Credit Transactions Act of 2003 (69 FR 6526)

Fair and Accurate Credit Transactions Act of 2003

The Federal Reserve Board (Board) and the Federal Trade Commission (FTC) have issued interim rules for the provision in the Fair and Accurate Credit Transaction Act.

As detailed in the notice the Board and the FTC are jointly responsible for implementing certain provisions of the Fair and Accurate Credit Transaction Act (FACTA) , which was signed by the President in December 2003. FACTA, which amends the Fair Credit Reporting Act (FCRA), requires nationwide CRAs to provide consumers with one free file disclosure ? commonly known as a credit report ? each year. Congress has directed the Commission to develop a rule to ensure nationwide CRAs will not attempt to circumvent this and other FCRA requirements.

Accordingly, the Federal Register notice presents an interim final rule prohibiting circumvention of nationwide CRA obligations and providing several illustrations of the types of conduct that would constitute circumvention. In addition, the interim final rule would offer a safe harbor to nationwide consumer reporting agencies that continue to comply with all FCRA obligations of nationwide CRAs.

The interim final rule, which will become effective on March 3, 2004, is subject to public comment until April 23, 2004, after which the Commission will determine whether it will modify the final rule. Information for consumers wishing to comment is provided in the notice.

Print Friendly

How To Find Us:
American Land Title Association
1800 M Street, NW, Suite 300S
Washington, D.C. 20036-5828
P. 202.296.3671 F. 202.223.5843
Copyright © 2004-2016 American Land Title Association. All rights reserved.
SecurityMetrics for PCI Compliance, QSA, IDS, Penetration Testing, Forensics, and Vulnerability Assessment