Fair and Accurate Credit Transaction Act (FACTA)
| Reviewed By | Internal Auditor Owner |
| Regulation Reference Cite | Public Law No. 108-159: Red Flag Rules: 16 C.F.R. § 681 |
| Level | Requirement |
| Oversight Unit | FINANCE & ADMIN, VICE PRES |
| Person Responsible | John Marra |
| Secondary Person Responsible | Jamie Beauchamp |
| President / VP Level | Finance |
| Related Policy / Procedure | Safeguarding Customers from Identity Theft Policy |
| Description |
Amends the Fair Credit Reporting Act. Requires that each financial institution or creditor that offers or maintains one or more covered accounts must develop and implement a written Identity Theft Prevention Program (Program) that is designed to detect, prevent, and mitigate identity theft in connection with the opening of a covered account or any existing covered account. The Program must be appropriate to the size and complexity of the financial institution or creditor and the nature and scope of its activities. Limits the ways consumer information can be shared.
|
| Contacts and Data Sources |
| John Marra and Jamie Beauchamp |
| Internal Notes |
| This compliance item has notes that are available internally to the oversight unit. Please contact the Risk Management Department for more information |