Credit bureaus adopt initiatives in the absence of a new law

Article Abstract:

The failure of Congress to enact the Fair Credit Reporting Act (FCRA) despite the testimony of Associated Credit Bureaus' (ACB) representatives that they will support and implement its decree compelled the ACB to formulate its own set of initiatives based on the legislation. The ACB has decided to adopt a series of provisions on consumer benefits included in the FCRA as mandatory member policies. Their main focus is geared toward the implementation of three basic principles: accuracy, privacy and consumer relations. The ACB seeks to improve in these consumer service areas by instilling their own modifications of the FCRA. These ACB initiatives further prove the credit reporting industry is firm in its decision to implement relevant consumer reforms despite the absence of FCRA amendments.

Credit reporting services, Laws, regulations and rules, Services, Credit, Credit bureaus, Associated Credit Bureaus

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Consumer credit education: the New Jersey experience

Article Abstract:

The Challenge 2000 program of the International Credit Assn aims to promote and establish quality credit education for high school students and specific adult populations in all states of the US by the year 2000. The program comes at a time when increased awareness of national consumerism has elicited public criticism of the credit industry. The Challenge 2000 program could provide the means to reestablish the partnership between the industry and consumers through consumer credit education. The activities of the ICA of Northern New Jersey are discussed.

Professional organizations, New Jersey, Education, Social policy, Study and teaching, Consumer credit, International Credit Association, Credit managers

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