Which act allows consumers to request a free credit report annually from major credit reporting companies?

The Fair and Accurate Credit Transactions Act is the correct choice because it specifically mandates that consumers are entitled to request a free credit report from the three major credit reporting agencies (Equifax, Experian, and TransUnion) once every 12 months. This provision was established to promote transparency and allow consumers to monitor their credit histories for accuracy and potential fraudulent activities.

In contrast, the Fair Credit Reporting Act, while foundational in regulating credit reporting agencies and ensuring consumer rights regarding their credit information, does not specifically stipulate the annual free credit report provision; rather, it focuses on broader aspects of credit reporting, including the accuracy and privacy of credit information.

The Privacy Protection Act is more focused on protecting the privacy of individuals and their personal information, rather than specifically addressing credit reporting or the provision of credit reports.

The Consumer Financial Protection Act established the Consumer Financial Protection Bureau, which oversees and regulates various consumer financial products, but does not directly deal with the provision of annual free credit reports. Each of these acts has its own distinct focus, but the Free and Accurate Credit Transactions Act is the one that addresses the ability of consumers to obtain their credit reports at no cost annually.