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September 24, 2003 The Federal Trade Commission recently released a prepared statement concerning the Fair Credit Reporting Act (FCRA). Within the statement, the chairman of the FTC, Timothy J. Muris, voices the FTC's support for renewing the uniform national standards and for amendments to the FCRA that were proposed by the Treasury Department in June 2003. Some of the amendments proposed included prevention and detection of identity theft, free annual access to consumer reports, and rights to adverse action notices. The FTC also recommended two amendments in addition to the Treasury Department's amendments. The FTC recommends "a modest strengthening the duties of information furnishers" and changing "the obligations of employers when investigating employees." The full text of the Prepared Statement by the Federal Trade Commission can be found at http://www.ftc.gov/os/2003/07/fcratest.html.
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