New Information Disposal Rule Takes Effect

Starting Wednesday, businesses and individuals must take steps to prevent unauthorized access to or use of discarded information derived from consumer reports. Under the Disposal Rule, a new part of the Fair and Accurate Credit Transactions Act of 2003 (Facta) that took effect Wednesday, those who use consumer-report information for a business purpose must dispose of those records in such a way that they cannot be misappropriated or misused.

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