What is the main objective of FACTA for consumers?

• A. To reduce access to credit.
• B. To provide stronger protections against identity theft, rights to view and monitor credit, and requirements for organizations to detect and prevent fraud.
• C. To limit consumer choices.
• D. To increase data sharing among marketers.

Answer: (B)

FACTA’s main objective for consumers is to strengthen protections against identity theft, give consumers rights to view and monitor their credit, and require organizations to detect and prevent fraud. It expands consumer access to credit information (for example, free annual credit reports from major bureaus), enables fraud alerts and extended fraud alerts, and obligates creditors and furnishers to implement reasonable identity theft prevention measures and to flag and report suspicious activity. The other options don’t fit because FACTA does not aim to reduce access to credit, limit consumer choices, or increase data sharing among marketers; instead, it improves protections and fraud prevention for consumers.