Which parties typically enforce FACTA provisions?

• A. The Federal Trade Commission (FTC) and various banking regulators depending on the entity.
• B. The Federal Communications Commission (FCC).
• C. The Department of Labor (DOL).
• D. The Environmental Protection Agency (EPA)

Answer: (A)

FACTA enforcement is shared between the Federal Trade Commission and the appropriate federal banking regulators, depending on the type of entity involved. The FTC handles the consumer-protection aspects of FACTA, including its identity theft safeguards and privacy rules, for many entities and for credit reporting agencies. When the entity is a bank or other financial institution subject to federal banking supervision, the enforcement responsibility falls to the bank’s federal regulator (such as the OCC, Federal Reserve, FDIC, or NCUA), not just the FTC. This mix ensures both consumer protection and proper regulation of financial institutions are addressed.