Privacy of Sensitive Financial Information Enhanced for Consumers under Amended Credit Reporting Statute; Accuracy of Information Will Improve

Employers, Creditors, and Credit Bureaus Have Major New Responsibilities

Media Advisory

Many consumers are concerned about the privacy, accuracy and fairness of their credit records. A newly-amended federal law that goes into effect on Sept. 30 will give consumers major new rights that will be highlighted at a press conference hosted by the Federal Trade Commission on Sept. 29, 1997, at 10 A.M. -- the day before the amendments go into effect.

The new law also will impose significant new requirements on employers and credit reporting agencies who compile these credit records.

WHAT: FTC Press Conference on New Rights for Consumers and New Responsibilities for Employers and Credit Bureaus under a New Federal Law Effective Sept. 30
WHO: Robert Pitofsky, Chairman of the FTC
U.S. Senator Richard Bryan (D-NV) *
Representatives from the National Association of Attorneys General
Federal Reserve Board
Associated Credit Bureaus
Consumers Union
WHEN: Sept. 29, 1997 at 10:00 A.M.
WHERE: Federal Trade Commission
600 Pennsylvania Ave., N.W. - Room 432

(The room will be open at 9:00 A.M. for cameras.)

*The bill to amend the FCRA was authored by Senators Richard Bryan (D-NV) and Christopher Bond (R-MO).

Media Contact:

Contact Information

Victoria Streitfeld or Howard Shapiro
Office of Public Affairs
202-326-2718 or 202-326-2176