Text: SF00191 Text: SF00193 Text: SF00100 - SF00199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. NEW SECTION. 546A.1 PROVISION OF CONSUMER
1 2 REPORTS.
1 3 1. For purposes of this section, unless the context
1 4 otherwise requires:
1 5 a. "Consumer" means an individual who obtains or has
1 6 obtained a financial product or service from a financial
1 7 institution that is to be used primarily for personal, family,
1 8 or household purposes, or that individual's legal
1 9 representative.
1 10 b. "Consumer report" means any written or other form of
1 11 communication of any information by a consumer reporting
1 12 agency bearing on a consumer's creditworthiness, credit
1 13 standing, or credit capacity which is used or intended to be
1 14 used or collected, in whole or in part, for the purpose of
1 15 serving as a factor in establishing the consumer's eligibility
1 16 for either of the following:
1 17 (1) Credit or insurance to be used primarily for personal,
1 18 family, or household purposes.
1 19 (2) Employment, promotion, reassignment, or retention as
1 20 an employee.
1 21 c. "Consumer reporting agency" means any person that, for
1 22 monetary fees, dues, or on a cooperative nonprofit basis,
1 23 regularly engages, in whole or in part, in the practice of
1 24 assembling or evaluating consumer credit information or other
1 25 information pertaining to consumers for the purpose of
1 26 furnishing consumer reports to third parties.
1 27 2. a. A consumer reporting agency that compiles and
1 28 maintains files on consumers on a nationwide basis shall
1 29 furnish to any consumer who has provided appropriate
1 30 verification of the consumer's identity one complete consumer
1 31 report per calendar year, upon the written request of the
1 32 consumer and without charge to the consumer.
1 33 b. The report required under this section must be
1 34 furnished by the consumer reporting agency to a requesting
1 35 consumer within ten calendar days of the consumer reporting
2 1 agency's receipt of the consumer's request.
2 2 3. A consumer who requests and is not provided a consumer
2 3 report pursuant to this section shall have a cause of action
2 4 against the consumer reporting agency that fails to furnish
2 5 the requested report within ten calendar days of the request
2 6 to obtain both of the following:
2 7 a. The greater of actual monetary damages or two hundred
2 8 fifty dollars.
2 9 b. Reasonable attorney fees and court costs.
2 10 EXPLANATION
2 11 This bill provides that a consumer reporting agency shall
2 12 provide a consumer with one free copy of the consumer's credit
2 13 report annually, upon the consumer's written request, within
2 14 10 days of receipt of the request. If the consumer reporting
2 15 agency fails to provide the requested copy, the consumer may
2 16 bring an action for the greater of actual damages or $250, as
2 17 well as attorney fees and court costs.
2 18 The bill also defines "consumer", "consumer report", and
2 19 "consumer reporting agency".
2 20 LSB 1688XS 80
2 21 jj/sh/8
Text: SF00191 Text: SF00193 Text: SF00100 - SF00199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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