The Fair and Accurate Credit Transaction Act (FACT Act) amends the Fair Credit Reporting Act (FCRA was signed into law to assist consumers who have been victims of fraud and identity theft). In keeping with this new law we have fine-tuned our process to include handling of fraud alerts on consumers credit reports. It is extremely important that all you at the district level follow these guidelines in accordance with the FACT Act and assure customer protections and company compliance.

The following is our process for fraud alerts:

1. You MUST verify your customer’s identity. Contact the customer and ask him/her to come into your office and bring two forms of I.D. One of these must be a photo I.D. such as a driver’s license, employer/government issued security badge, student I.D. card, etc. A social security card is preferable as the second form of I.D., but a utility bill, bank statement or phone bill with the customer’s current address that matches the credit application are acceptable. Contact the Credit Department and let us know that the customer will be coming into your office to verify identity.

2. When the customer arrives in your office, check the two forms of I.D. and compare them with the information on the customer’s credit application. Make a good-quality photocopy of both documents and fax this to the Credit Department. Call Credit to let us know that you are faxing the verification. When we receive the verification of identity documents, we will complete the credit decision process and notify you promptly.

Thank you for following this procedure. Your office and the Credit Department must show due diligence when processing this type of application The extra steps we take to verify the customer’s identity are legally required, and protect your customer from unauthorized credit usage.

Credit Department