Source: https://law.justia.com/codes/us/2010/title15/chap41/subchapiii/sec1681m/
Timestamp: 2018-03-24 02:33:15
Document Index: 349672260

Matched Legal Cases: ['§615', '§601', '§2411', '§114', '§213', '§311', '§811', '§1088', '§2', '§1681', '§615', '§601', '§2411', '§114', '§213', '§311', '§811', '§1088', '§2', '§1088', '§213', '§811', '§2411', '§114', '§2411', '§154', '§155', '§311', '§2411', '§2411', '§2411', '§2411', '§2411', '§811', '§2', '§213']

15 U.S.C. 1681m - Sec. 1681m - Requirements on users of consumer reports :: 2010 US Code :: US Codes and Statutes :: US Law :: Justia
Justia US Law US Codes and Statutes US Code 2010 US Code Title 15 - COMMERCE AND TRADE CHAPTER 41 - CONSUMER CREDIT PROTECTION SUBCHAPTER III - CREDIT REPORTING AGENCIES Sec. 1681m - Requirements on users of consumer reports
Sec. 1681m - Requirements on users of consumer reports
Contains section 1681m
Source Credit Pub. L. 90-321, title VI, §615, as added Pub. L. 91-508, title VI, §601, Oct. 26, 1970, 84 Stat. 1133; amended Pub. L. 104-208, div. A, title II, §2411, Sept. 30, 1996, 110 Stat. 3009-443; Pub. L. 108-159, title I, §§114, 154(b), 155, title II, §213(a), title III, §311(a), title VIII, §811(h), Dec. 4, 2003, 117 Stat. 1960, 1967, 1978, 1988, 2012; Pub. L. 111-203, title X, §§1088(a)(2)(C), (7)-(9), 1100F, July 21, 2010, 124 Stat. 2087, 2088, 2112; Pub. L. 111-319, §2(a), Dec. 18, 2010, 124 Stat. 3457.
Statutes at Large References 84 Stat. 1133
110 Stat. 3009-443
117 Stat. 1960, 1979
124 Stat. 2087, 3457, 3458
Public Law References Public Law 90-321, Public Law 91-508, Public Law 104-208, Public Law 108-159, Public Law 111-203, Public Law 111-319
§1681m. Requirements on users of consumer reports
(2) provide to the consumer orally, in writing, or electronically—
(3) provide to the consumer an oral, written, or electronic notice of the consumer's right—
(A) to obtain, under section 1681j of this title, a free copy of a consumer report on the consumer from the consumer reporting agency referred to in paragraph (2), which notice shall include an indication of the 60-day period under that section for obtaining such a copy; and
Whenever credit for personal, family, or household purposes involving a consumer is denied or the charge for such credit is increased either wholly or partly because of information obtained from a person other than a consumer reporting agency bearing upon the consumer's credit worthiness, credit standing, credit capacity, character, general reputation, personal characteristics, or mode of living, the user of such information shall, within a reasonable period of time, upon the consumer's written request for the reasons for such adverse action received within sixty days after learning of such adverse action, disclose the nature of the information to the consumer. The user of such information shall clearly and accurately disclose to the consumer his right to make such written request at the time such adverse action is communicated to the consumer.
Any person who uses a consumer report on any consumer in connection with any credit or insurance transaction that is not initiated by the consumer, that is provided to that person under section 1681b(c)(1)(B) of this title, shall provide with each written solicitation made to the consumer regarding the transaction a clear and conspicuous statement that—
(A) include the address and toll-free telephone number of the appropriate notification system established under section 1681b(e) of this title; and
(B) be presented in such format and in such type size and manner as to be simple and easy to understand, as established by the Commission, by rule, in consultation with the Federal banking agencies and the National Credit Union Administration.
The Federal banking agencies, the National Credit Union Administration, and the Commission shall jointly, with respect to the entities that are subject to their respective enforcement authority under section 1681s of this title—
(ii) furnishes information to consumer reporting agencies, as described in section 1681s–2 of this title, in connection with a credit transaction; or
(C) include a statement informing the consumer that the consumer may obtain a copy of a consumer report from that consumer reporting agency without charge; and
(D) include the contact information specified by that consumer reporting agency for obtaining such consumer reports (including a toll-free telephone number established by the agency in the case of a consumer reporting agency described in section 1681a(p) of this title).
The Commission and the Board shall jointly prescribe rules.
(Pub. L. 90–321, title VI, §615, as added Pub. L. 91–508, title VI, §601, Oct. 26, 1970, 84 Stat. 1133; amended Pub. L. 104–208, div. A, title II, §2411, Sept. 30, 1996, 110 Stat. 3009–443; Pub. L. 108–159, title I, §§114, 154(b), 155, title II, §213(a), title III, §311(a), title VIII, §811(h), Dec. 4, 2003, 117 Stat. 1960, 1967, 1978, 1988, 2012; Pub. L. 111–203, title X, §§1088(a)(2)(C), (7)–(9), 1100F, July 21, 2010, 124 Stat. 2087, 2088, 2112; Pub. L. 111–319, §2(a), Dec. 18, 2010, 124 Stat. 3457.)
Pub. L. 111–203, title X, §§1088(a)(2)(C), (7)–(9), 1100F, 1100H, July 21, 2010, 124 Stat. 2087, 2088, 2112, 2113, provided that, effective on the designated transfer date, this section is amended as follows:
(1) by striking “the Commission” each place that term appears, other than in subsection (e), and inserting “the Bureau”;
(A) by redesignating paragraphs (2) and (3) as paragraphs (3) and (4), respectively;
“(2) provide to the consumer written or electronic disclosure—
“(A) of a numerical credit score as defined in section 1681g(f)(2)(A) of this title used by such person in taking any adverse action based in whole or in part on any information in a consumer report; and
“(B) of the information set forth in subparagraphs (B) through (E) of section 1681g(f)(1) of this title;”; and
(C) in paragraph (4) (as so redesignated), by striking “paragraph (2)” and inserting “paragraph (3)”;
(3) in subsection (d)(2)(B), by striking “the Federal banking agencies” and inserting “the Federal Trade Commission, the Federal banking agencies,”;
(4) in subsection (e)(1), by striking “and the Commission” and inserting “the Federal Trade Commission, the Commodity Futures Trading Commission, and the Securities and Exchange Commission”;
(5) in subsection (h)(5)—
(A) in subparagraph (C), by striking “; and” and inserting a semicolon;
(B) in subparagraph (D), by striking the period and inserting “; and”; and
“(E) include a statement informing the consumer of—
“(i) a numerical credit score as defined in section 1681g(f)(2)(A) of this title, used by such person in making the credit decision described in paragraph (1) based in whole or in part on any information in a consumer report; and
“(ii) the information set forth in subparagraphs (B) through (E) of section 1681g(f)(1) of this title.”; and
(6) in subsection (h)(6), by striking subparagraph (A) and inserting the following:
“(A) Rules required
“The Bureau shall prescribe rules to carry out this subsection.”
2010—Subsec. (e)(4). Pub. L. 111–319 added par. (4).
2003—Subsec. (d)(2). Pub. L. 108–159, §213(a), amended heading and text of par. (2) generally. Prior to amendment, text read as follows: “A statement under paragraph (1) shall include the address and toll-free telephone number of the appropriate notification system established under section 1681b(e) of this title.”
Subsec. (e). Pub. L. 108–159, §811(h), repealed Pub. L. 104–208, §2411(c). See 1996 Amendment note below.
Pub. L. 108–159, §114, added subsec. (e) and struck out former subsec. (e) designation that had been added with no heading or text by Pub. L. 104–208, §2411(c). See note above and 1996 Amendment note below.
Subsec. (f). Pub. L. 108–159, §154(b), added subsec. (f).
Subsec. (g). Pub. L. 108–159, §155, added subsec. (g).
Subsec. (h). Pub. L. 108–159, §311(a), added subsec. (h).
1996—Subsec. (a). Pub. L. 104–208, §2411(a), inserted heading and amended text of subsec. (a) generally. Prior to amendment, text read as follows: “Whenever credit or insurance for personal, family, or household purposes, or employment involving a consumer is denied or the charge for such credit or insurance is increased either wholly or partly because of information contained in a consumer report from a consumer reporting agency, the user of the consumer report shall so advise the consumer against whom such adverse action has been taken and supply the name and address of the consumer reporting agency making the report.”
Subsec. (b). Pub. L. 104–208, §2411(e), inserted subsec. heading, designated existing provisions as par. (1) and inserted heading, and added par. (2).
Subsec. (c). Pub. L. 104–208, §2411(d), substituted “this section” for “subsections (a) and (b) of this section”.
Subsec. (d). Pub. L. 104–208, §2411(b), added subsec. (d).
Subsec. (e). Pub. L. 104–208, §2411(c), which added subsec. (e) containing subsec. designation, but no heading or text, was repealed by Pub. L. 108–159, §811(h).
Pub. L. 111–319, §2(b), Dec. 18, 2010, 124 Stat. 3458, provided that: “The amendment made by this section [amending this section] shall become effective on the date of enactment of this Act [Dec. 18, 2010].”
Pub. L. 108–159, title II, §213(b), Dec. 4, 2003, 117 Stat. 1979, provided that: “Regulations required by section 615(d)(2) of the Fair Credit Reporting Act [15 U.S.C. 1681m(d)(2)], as amended by this section, shall be issued in final form not later than 1 year after the date of enactment of this Act [Dec. 4, 2003].”