Federal Trade Commission - Disposing of Consumer Report Information? Rule Tells How

In an effort to protect the privacy of consumer information and reduce the risk of fraud and identity theft, a federal rule requires businesses to take appropriate measures to dispose of sensitive information derived from consumer reports.

 

Any business or individual who uses a consumer report for a business purpose is subject to the requirements of the Disposal Rule. The Rule requires the proper disposal of information in consumer reports and records to protect against “unauthorized access to or use of the information.” The Federal Trade Commission, the nation’s consumer protection agency, enforces the Disposal Rule.

 

For more information on the list of lenders and who must comply click the link below.

 

 

 

FTC- Disposal Rule