B&C News Briefs Æ Mortgage lenders will face several new credit reporting and fraud prevention requirements next month, under a timetable for implementation of the Fair and Accurate Credit Transactions Act of 2003 issued by the Federal Trade Commission and the Federal Reserve Board. Enacted in December, FACT made permanent national standards for credit reporting while creating new disclosure requirements, streamlining the dispute process, and making it easier for consumers to access their credit reports