The purpose of this petition is to require Congress to pass an amendment to the Fair and Accurate Credit Transactions Act, which in part gave United States citizens the right to receive 1 free credit report from each of the 3 major credit bureaus (Equifax, TransUnion, and Experian) once a year on a 12 month rolling basis. This amendment or Act, enlight of the Equifax security breach, would extend the right to receive a free credit report from each of the 3 major credit bureaus, once per quarter(4 times a year).
Why is this important?
I am starting this petition because credit worthiness impacts many facets of all of our lives per Attorney General Eric Schneiderman from New York State. It not only impacts whether you can obtain a loan, but also how much you can borrow, what your interest rate will be, if you have to place a deposit for utilities, insurance rates, whether you can rent an apartment, employment opportunities and more. This is a serious loss of personal information that has impacted more than half of the American public and can for years to come.
