What Is FACTA and the Red Flags Rule?

The Fair and Accurate Credit Transactions Act (FACTA) contains multiple provisions to help limit identity theft ranging from consumers having the ability to place fraud alerts on their credit history to financial institutions and creditors being required to dispose consumer information securely. Learn more in this SlideShare about FACTA's formal definition and history, top reasons for why it was passed into law, FACTA's provisions for preventing identity theft, a closer look at the Red Flags Rule, and most importantly whether or not FACTA applies to you. Get more information on potential penalties for failing to comply with FACTA at https://www.recordnations.com/2020/08/penalties-for-facta-noncompliance/.