Which of the following is a function of FACTA?

The correct answer is comprehensive in that it encompasses multiple important functions of the Fair and Accurate Credit Transactions Act (FACTA). FACTA was enacted in part to enhance consumer protections in the realm of credit reporting and identity theft.

One of its key functions is to improve consumer access to credit information. This allows individuals to obtain their credit reports and check for accuracy, which is essential for making informed financial decisions.

Additionally, FACTA facilitates the resolution of disputes between consumers and credit reporting agencies. This means that if a consumer finds an error in their credit report, FACTA provides the framework for them to challenge and correct these inaccuracies effectively.

Moreover, one of the most significant aspects of FACTA is its role in preventing identity theft and providing mechanisms for restoring credit histories for victims of such crimes. The act establishes important measures, such as the provision of free credit reports and the ability to place fraud alerts on credit files to protect consumers from identity theft.

By affirming all these functions—improving access to information, assisting in dispute resolution, and enhancing protections against identity theft—the answer reflects the full scope of FACTA’s provisions. Therefore, choosing the option that includes all these components captures the essence of the act’s purpose and contributions to consumer protection.