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ECKW_I22.FIL
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1995-08-01
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TITLE VI -- PROVISIONS RELATING TO CREDIT REPORTING AGENCIES
AMENDMENT OF CONSUMER CREDIT PROTECTION ACT
SEC. 601. The Consumer Credit Protection Act is amended by adding at the
end thereof the following new title:
TITLE VI -- CONSUMER CREDIT REPORTING
SEC.
~~~~
601. Short title.
602. Findings and purpose.
603. Definitions and rules of construction.
604. Permissible purposes of reports.
605. Obsolete information.
606. Disclosure of investigative consumer reports.
607. Compliance procedures.
608. Disclosures to governmental agencies.
609. Disclosures to consumers.
610. Conditions of disclosure to consumers.
611. Procedure in case of disputed accuracy.
612. Charges for certain disclosures.
613. Public record information for employment purposes.
614. Restrictions on investigative consumer reports.
615. Requirements on users of consumer reports.
616. Civil liability for willful noncompliance.
617. Civil liability for negligent noncompliance.
618. Jurisdiction of courts: limitation of actions.
619. Obtaining information under false pretenses.
620. Unauthorized disclosures by officers or employees.
621. Administrative enforcement.
622. Relation to State laws.
* 601. Short title.
This title may be cited as the Fair Credit Reporting Act.
* 602. Findings and purpose.
(a) The Congress makes the following findings:
(1) The banking system is dependent upon fair and accurate credit
reporting. Inaccurate credit reports directly impair the efficiency
of the banking system, and unfair credit reporting methods undermine
the public confidence which is essential to the continued functioning
of the banking system.
(2) An elaborate mechanism has been developed for investigating and
evaluating the credit worthiness, credit standing, credit capacity,
character, and general reputation of consumers.
(3) Consumer reporting agencies have assumed a vital role in assembling
and evaluating consumer credit and other information on consumers.
(4) There is a need to insure that consumer reporting agencies exercise
their grave responsibilities with fairness, impartiality, and a
respect for the consumer's right to privacy.
(b) It is the purpose of this title to require that consumer reporting
agencies adopt reasonable procedures for meeting the needs of commerce
for consumer credit, personnel, insurance, and other information in a
manner which is fair and equitable to the consumer, with regard to the
confidentiality, accuracy, relevancy, and proper utilization of such
information in accordance with the requirements of this title.
*603. Definitions and rules of construction
(a) Definitions and rules of construction set forth in this section are
applicable for the purposes of this title.
(b) The term `person' means any individual, partnership, corporation, trust,
estate, cooperative, association, government or governmental
subdivision or agency, or other entity.
(c) The term `consumer' means an individual.
(d) The term `consumer report' means any written, oral, or other
communication of any information by a consumer reporting agency bearing
on a consumer's credit worthiness, credit standing, credit capacity,
character, general reputation, personal charac teristics, or mode of
living which is used or expected to be used or collected in whole or in
part for the purpose of serving as a factor in establishing the
consumer's eligibility for
(1) credit or insurance to be used primarily for personal, family, or
household purposes, or
(2) employment purposes, or
(3) other purposes authorized under section 604.
The term does not include:
(A) any report containing information solely as to transactions or
experiences between the consumer and the person making the report;
(B) any authorization or approval of a specific extension of credit
directly or indirectly by the issuer of a credit card or similar
device; or
(C) any report in which a person who has been requested by a third
party to make a specific extension of credit directly or indirectly
to a consumer conveys his decision with respect to such request, if
the third party advises the consumer of the name and address of the
person to whom the request was made and such person makes the
disclosures to the consumer required under section 615.
(e) The term `investigative consumer report' means a consumer report or
portion thereof in which information on a consumer's character, general
reputation, personal characteristics, or mode of living is obtained
through personal interviews with neighbo rs, friends, or associates of
the consumer reported on or with others with whom he is acquainted or
who may have knowledge concerning any such items of information.
However, such information shall not include specific factual information
on a consumers c redit record obtained directly from a creditor of the
consumer or from a consumer reporting agency when such information was
obtained directly from a creditor of the consumer or from the consumer.
(f) The term `consumer reporting agency' means any person which, for
monetary fees, dues, or on a cooperative nonprofit basis, regularly
consumer credit information or other information on consumers for the
purpose of furnishing consumer reports to thi rd parties, and which uses
any means or facility of interstate commerce for the purpose of
preparing or furnishing consumer reports.
(g) The term `file', when used in connection with information on any
consumer, means all of the information on that consumer recorded and
retained by a consumer reporting agency regardless of how the
information is stored.
(h) The term `employment purposes' when used in connection with a consumer
report means a report used for the purpose of evaluating a consumer for
employment, promotion, reassignment or retention as an employee.
(i) The term `medical information' means information or records obtained,
with the consent of the individual to whom it relates, from licensed
physicians or medical practitioners, hospitals, clinics, or other
medical or medically related facilities.
*604. Permissible purposes of reports
A consumer reporting agency may furnish a consumer report under the
following circumstances and no other:
(1) In response to the order of a court having jurisdiction to issue such
an order.
(2) In accordance with the written instructions of the consumer to whom it
relates.
(3) To a person which it has reason to believe--
(A) intends to use the information in connection with a credit
transaction involving the consumer on whom the information is to be
furnished and involving the extension of credit to, or review or
collection of an account of, the consumer; or
(B) intends to use the information for employment purposes; or
(C) intends to use the information in connection with the underwriting
of insurance involving the consumer; or
(D) intends to use the information in connection with a determination of
the consumer's eligibility for a license or other benefit granted by
a governmental instrumentality required by law to consider an
applicant's financial responsibility or status; or
(E) otherwise has a legitimate business need for the information