16 CFR Part 610 Amendments to Rule to Prevent Deceptive Marketing of Credit Reports and to Ensure Access to Free Annual File Disclosures
I have heard from the press reports of three proposed rule changes to the "free annual credit report" rules, all to remove advertising and require landing pages on non-free credit report sites. I agree with these three changes, but to cut down on further confusion by consumers, additional steps should be taken: 1. Prohibit use or advertising of any Internet domain indicating a free credit report or FICO score unless said domain is assigned in it's Domain Name Services record to point to the same site as AnnualCreditReport.com. 2. Require all credit report agencies (not just Transunion, Equifax, and Experian) to provide said credit report electronically. There are more than three that provide credit reports. Even then, Transunion consistently requires a request to have the report sent by postal mail instead of secured electronic transmission. 3. Require all credit report agencies to provide free FICO scores on the same basis as a free credit report each year. 4. Require any estimated FICO score be presented as an estimate. All of these will help the average consumer better manage their credit.