The Fair and Accurate Credit Transactions Act (FACT Act) is a federal law that was passed in 2003. The FACT Act made several amendments to the Fair Credit Reporting Act (FCRA). One of the most notable additions was the creation of the free annual credit report program. Under the FACT Act, each of the nationwide consumer reporting agencies are required to provide consumers with a free copy of their credit report, once every 12 months. FACTA provides consumers with the right to dispute any information on their credit report that they believe is inaccurate, incomplete, or misleading. If the creditor does not respond to the dispute within 30 days, the information will be removed from the consumer's credit report.