Senate File 209 - Introduced



                                       SENATE FILE       
                                       BY  McCOY


    Passed Senate, Date               Passed House,  Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act relating to consumer access to consumer credit reports,
  2    and providing a private right of action.
  3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  4 TLSB 2946SS 81
  5 rh/sh/8

PAG LIN



  1  1                            ARTICLE 9
  1  2                     CONSUMER CREDIT REPORTS
  1  3    Section 1.  NEW SECTION.  537.9101  PROVISION OF CONSUMER
  1  4 CREDIT REPORTS.
  1  5    1.  For purposes of this section, unless the context
  1  6 otherwise requires:
  1  7    a.  "Consumer" means an individual who obtains or has
  1  8 obtained a financial product or service from a financial
  1  9 institution that is to be used primarily for personal, family,
  1 10 or household purposes, or that individual's legal
  1 11 representative.
  1 12    b.  "Consumer report" means any written or other form of
  1 13 communication of any information by a consumer reporting
  1 14 agency bearing on a consumer's creditworthiness, credit
  1 15 standing, or credit capacity which is used or intended to be
  1 16 used or collected, in whole or in part, for the purpose of
  1 17 serving as a factor in establishing the consumer's eligibility
  1 18 for either of the following:
  1 19    (1)  Credit or insurance to be used primarily for personal,
  1 20 family, or household purposes.
  1 21    (2)  Employment, promotion, reassignment, or retention as
  1 22 an employee.
  1 23    c.  "Consumer reporting agency" means any person that, for
  1 24 monetary fees, dues, or on a cooperative nonprofit basis,
  1 25 regularly engages, in whole or in part, in the practice of
  1 26 assembling or evaluating consumer credit information or other
  1 27 information pertaining to consumers for the purpose of
  1 28 furnishing consumer reports to third parties.
  1 29    2.  a.  A consumer reporting agency that compiles and
  1 30 maintains files on consumers on a nationwide basis shall
  1 31 furnish to any consumer who has provided appropriate
  1 32 verification of the consumer's identity one complete consumer
  1 33 report per calendar year, upon the written request of the
  1 34 consumer and without charge to the consumer.
  1 35    b.  The report required under this section must be
  2  1 furnished by the consumer reporting agency to a requesting
  2  2 consumer within ten calendar days of the consumer reporting
  2  3 agency's receipt of the consumer's request.
  2  4    3.  A consumer who requests and is not provided a consumer
  2  5 report pursuant to this section shall have a cause of action
  2  6 against the consumer reporting agency that fails to furnish
  2  7 the requested report within ten calendar days of the request
  2  8 to obtain both of the following:
  2  9    a.  The greater of actual monetary damages or two hundred
  2 10 fifty dollars.
  2 11    b.  Reasonable attorney fees and court costs.
  2 12                           EXPLANATION
  2 13    This bill provides that a consumer reporting agency shall
  2 14 provide a consumer with one free copy of the consumer's credit
  2 15 report annually, upon the consumer's written request, within
  2 16 10 days of receipt of the request.  If the consumer reporting
  2 17 agency fails to provide the requested copy, the consumer may
  2 18 bring an action for the greater of actual damages or $250, as
  2 19 well as attorney fees and court costs.
  2 20    The bill also defines "consumer", "consumer report", and
  2 21 "consumer reporting agency".
  2 22 LSB 2946SS 81
  2 23 rh:nh/sh/8