The Federal Trade Commission

Although you hear a lot about the Federal Trade Commission in news reports, you may not be aware of who they are or what they actually do. Since the FTC is such a significant player in the credit industry, I thought it would be good to at least discuss their role in the credit industry.

First of all, unlike the Big 3 Credit Bureaus, the FTC is in fact a Federal Government entity. It may surprise you to know that the commission is actually headed by 5 commissioners nominated by the President and confirmed by the Senate. They each serve a 7 year term. The President selects the FTC's chairman.

Although the FTC has many responsibilities, like providing consumer education, their Consumer Protection Bureau is the primary credit industry player. They're responsible for protecting consumers against unfair and deceptive practices.

That's why the FTC is the main agency that enforces the Fair Credit Reporting Act, The Credit Repair Organizations Act, the Fair Debt Collection Practices Act, as well as many other consumer protection laws.

The FTC informs the US Congress regarding consumer related matters and they have the power to investigate individual companies or whole industries. They can also commence litigation to enforce consumer laws, regulations and industry rules they create.

So having an understanding of the FTC is an important part of your legal credit improvement process. Why? Because if you have issues of unfair or deceptive dealings by the credit bureaus, collectors, creditors, or even credit repair organizations, you can contact the FTC for help.

To file a complaint or get free information on consumer issues go to or call 1-877-FTC-HELP.

So get credit information and decide for yourself who to trust
to help legally improve your credit.

Credit Improvement Tip#2

"Why It's Not in the Credit Bureau's Best Interest to Help You Fix Your Credit"

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