Browse Arkansas Code titles and sections
23-67-412. Fair Credit Reporting Act.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-67-412. Fair Credit Reporting Act.
The provisions of this subchapter shall be subject to the Fair Credit Reporting Act, 15 U.S.C. § 1681 et seq.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-67-412
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:23-67-412
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 3ae05594129709f4f32b251fbeeb3400c4cff954c525bdee97cd912eeadaddc2
Source location: content.xml paragraph 39361
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23-67-412. Fair Credit Reporting Act.
The provisions of this subchapter shall be subject to the Fair Credit Reporting Act, 15 U.S.C. § 1681 et seq.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Accuracy and fairness of credit reporting** 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) Reasonable procedures** It is the purpose of this subchapter 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 subchapter.
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 1681
Stored review status: release_metadata_unconfirmed. The source passage cites 15 U.S.C. § 1681. This identifies an authority to review, not proof of applicability.
Federal law — U.S. Code and appendices · legal_authorities
Page 1556
TITLE 15—COMMERCE AND TRADE
§ 1679i
(iii) to file petitions for appeal.
(3) Investigatory powers
For purposes of bringing any action under
this subsection, nothing in this subsection
shall prevent the chief law enforcement offi-
cer, or an official or agency designated by a
State, from exercising the powers conferred on
the chief law enforcement officer or such offi-
cial by the laws of such State to conduct in-
vestigations or to administer oaths or affirma-
tions or to compel the attendance of witnesses
or the production of documentary and other
evidence.
(4) Limitation
Whenever the Federal Trade Commission has
instituted a civil action for violation of this
subchapter, no State may, during the pend-
ency of such action, bring an action under this
section against any defendant named in the
complaint of the Commission for any violation
of this subchapter that is alleged in that com-
plaint.
(Pub. L. 90–321, title IV, § 410, as added Pub. L.
104–208, div. A, title II, § 2451, Sept. 30, 1996, 110
Stat. 3009–460.)
Editorial Notes
REFERENCES IN TEXT
The Federal Trade Commission Act, referred to in
subsecs. (a) and (b), is act Sept. 26, 1914, ch. 311, 38 Stat.
717, which is classified generally to subchapter I (§ 41 et
seq.) of chapter 2 of this title. For complete classifica-
tion of this Act to the Code, see section 58 of this title
and Tables.
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE
Section applicable after the end of the 6-month pe-
riod beginning on Sept. 30, 1996, except with respect to
contracts entered into by a credit repair organization
before the end of such period, see section 413 of Pub. L.
90–321, as added by Pub. L. 104–208, set out as a note
under section 1679 of this title.
§ 1679i. Statute of limita
Source: Supplied 2024 U.S. Code historical extraction · 15 U.S.C. § 1681
Stored review status: historical_2024_not_currentness_verified. The source passage cites 15 U.S.C. § 1681. This identifies an authority to review, not proof of applicability.