In the new Blackboard, FACT has been relocated to Tools, shown here:

You can access FACT reporting forms at any time within the Bb page for each course by selecting the link for “Tools” in the toolbar on the left side of your course in Bb. The links in the frame that opens on the right are alphabetical: scroll down to click the link for “FACT Course Roster”. It may take a few moments and load screens before the FACT Roster appears. When it does, hover over the two downward arrows by the student’s NUID and select the red, yellow, or green reporting option. This will take you to the FACT reporting form, which contains additional directions for use. 

If the Tools menu is not available in a Blackboard course, this video shows you how to add it: