Credit Reporting Literacy: Consumers Understood the Basics but Could Benefit from Targeted Educational Efforts

United States. Government Accountability Office.

United States. Government Accountability Office.

关键词: Government accountability -- United States.;    business regulation and consumer protection;    education;    credit reporting literacy;    letter report;   

RP-ID  :  GAO-05-223
RP-ID  :  245675

美国|英语

来源: UNT Digital Library

【 摘 要 】

A letter report issued by the Government Accountability Office with an abstract that begins "This report responds to a mandate in the Fair and Accurate Credit Transactions Act (FACT Act) of 2003 requiring GAO to assess consumers' understanding of credit reporting. The FACT Act, among other things, extended provisions governing the credit reporting system and addressed ongoing concerns about inaccuracies in credit reports. For example, the act expanded access to credit information by entitling consumers to one free credit report each year. It also established the Financial Literacy and Education Commission (FLEC) to improve consumers' understanding of credit issues. This report examines consumers' understanding and use of credit reports and scores and the dispute process and looks at factors that may influence their understanding of credit reporting."