The FTC adoption of several rules that will require nationwide consumer reporting agencies ("CRAs") to provide a free electronic credit monitoring service to active-duty military consumers was published in the Federal Register.
As previously covered, the rule release will require CRAs to notify active-duty military consumers within 48 hours of any material additions or modifications to their credit files.
The rules will go into effect on July 31, 2019. Compliance will be required beginning on October 31, 2019.
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