Which federal regulation aims to protect consumer information?

Study for the Alabama Real Estate Post-License Exam. Engage with flashcards and multiple-choice questions, with hints and explanations for each question. Get ready to excel on your exam!

The Fair and Accurate Credit Transactions Act (FACTA) is a federal regulation designed to protect consumer information by ensuring the accuracy and privacy of consumer credit information. This law allows consumers to have access to their credit reports and provides them with the ability to dispute inaccuracies. Additionally, it requires financial institutions to take measures to protect sensitive consumer information and incorporates provisions for consumer rights regarding identity theft protection.

While the other regulations mentioned also serve important consumer protection purposes, they don't specifically focus on the breadth of consumer information protection as FACTA does. The Do-Not-Call registry mainly addresses telemarketing and consumer privacy in that domain but does not pertain to the handling of credit information. The Fair Credit Reporting Act (FCRA) is related to credit information, but FACTA builds upon the FCRA by introducing specific provisions for consumer rights and protections in the context of credit transactions. Lastly, truth-in-advertising laws pertain to honesty in marketing rather than the protection of consumer data. Thus, FACTA stands out for its comprehensive approach to safeguarding consumer information.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy