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The USA Patriot Act was enacted in 2001 in response to the 9/11 terrorist acts. The intent is for banks, credit unions and other financial institutions to verify the identity of all people who do business with them.
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The Fair and Accurate Credit Transactions Act (often referred to as the FACT Act, or FACTA) was signed into law in December 2003. The FACT Act, a revision of the Fair Credit Reporting Act (FCRA), requires each of the nationwide consumer reporting companies to provide you with a free copy of your credit report, at your request, once every 12 months through a central source.
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Shared Branching is a national network of credit unions from all over the country that share facilities to give members thousands of convenient locations to perform transactions just as if they were at their home credit union.
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