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15 U.S.C. § 1681m — Requirements on users of consumer reports
Federal law — U.S. Code and appendices · legal_authorities
**(a) Duties of users taking adverse actions on basis of information contained in consumer reports** If any person takes any adverse action with respect to any consumer that is based in whole or in part on any information contained in a consumer report, the person shall—
(1) provide oral, written, or electronic notice of the adverse action to the consumer;
(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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1681g/f/2/A&num=0&edition=prelim) 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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1681g/f/1&num=0&edition=prelim);
(3) provide to the consumer orally, in writing, or electronically—
(A) the name, address, and telephone number of the consumer reporting agency (including a toll-free telephone number established by the agency if the agency compiles and maintains files on consumers on a nationwide basis) that furnished the report to the person; and
(B) a statement that the consumer reporting agency did not make the decision to take the adverse action and is unable to provide the consumer the specific reasons why the adverse action was taken; and
(4) provide to the consumer an oral, written, or electronic notice of the consumer’s right—
(A) to obtain, under [section 1681j of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1681j&num=0&edition=prelim), a free copy of a consumer report on the consumer
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Source file: Laws/federal/codes/united-states-code/title-15/section-1681m-requirements-on-users-of-consumer-reports--40bdc34afd.md
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Source location: Title 15, Chapter 41, § 1681m; chapter-041-consumer-credit-protection.md
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**(a) Duties of users taking adverse actions on basis of information contained in consumer reports** If any person takes any adverse action with respect to any consumer that is based in whole or in part on any information contained in a consumer report, the person shall—
(1) provide oral, written, or electronic notice of the adverse action to the consumer;
(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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1681g/f/2/A&num=0&edition=prelim) 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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1681g/f/1&num=0&edition=prelim);
(3) provide to the consumer orally, in writing, or electronically—
(A) the name, address, and telephone number of the consumer reporting agency (including a toll-free telephone number established by the agency if the agency compiles and maintains files on consumers on a nationwide basis) that furnished the report to the person; and
(B) a statement that the consumer reporting agency did not make the decision to take the adverse action and is unable to provide the consumer the specific reasons why the adverse action was taken; and
(4) provide to the consumer an oral, written, or electronic notice of the consumer’s right—
(A) to obtain, under [section 1681j of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1681j&num=0&edition=prelim), a free copy of a consumer report on the consumer from the consumer reporting agency referred to in paragraph (3), which notice shall include an indication of the 60-day period under that section for obtaining such a copy; and
(B) to dispute, under [section 1681i of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1681i&num=0&edition=prelim), with a consumer reporting agency the accuracy or completeness of any information in a consumer report furnished by the agency.
**(b) Adverse action based on information obtained from third parties other than consumer reporting agencies**
(1) **In general** — 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.
(2) **Duties of person taking certain actions based on information provided by affiliate**
(A) *Duties, generally* — If a person takes an action described in subparagraph (B) with respect to a consumer, based in whole or in part on information described in subparagraph (C), the person shall—
(i) notify the consumer of the action, including a statement that the consumer may obtain the information in accordance with clause (ii); and
(ii) upon a written request from the consumer received within 60 days after transmittal of the notice required by clause (i), disclose to the consumer the nature of the information upon which the action is based by not later than 30 days after receipt of the request.
(B) *Action described* — An action referred to in subparagraph (A) is an adverse action described in [section 1681a(k)(1)(A) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1681a/k/1/A&num=0&edition=prelim), taken in connection with a transaction initiated by the consumer, or any adverse action described in clause (i) or (ii) of [section 1681a(k)(1)(B) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1681a/k/1/B&num=0&edition=prelim).
(C) *Information described* — Information referred to in subparagraph (A)—
(i) except as provided in clause (ii), is information that—
(I) is furnished to the person taking the action by a person related by common ownership or affiliated by common corporate control to the person taking the action; and
(II) bears on the credit worthiness, credit standing, credit capacity, character, general reputation, personal characteristics, or mode of living of the consumer; and
(ii) does not include—
(I) information solely as to transactions or experiences between the consumer and the person furnishing the information; or
(II) information in a consumer report.
**(c) Reasonable procedures to assure compliance** No person shall be held liable for any violation of this section if he shows by a preponderance of the evidence that at the time of the alleged violation he maintained reasonable procedures to assure compliance with the provisions of this section.
**(d) Duties of users making written credit or insurance solicitations on basis of information contained in consumer files**
(1) **In general** — 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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1681b/c/1/B&num=0&edition=prelim), shall provide with each written solicitation made to the consumer regarding the transaction a clear and conspicuous statement that—
(A) information contained in the consumer’s consumer report was used in connection with the transaction;
(B) the consumer received the offer of credit or insurance because the consumer satisfied the criteria for credit worthiness or insurability under which the consumer was selected for the offer;
(C) if applicable, the credit or insurance may not be extended if, after the consumer responds to the offer, the consumer does not meet the criteria used to select the consumer for the offer or any applicable criteria bearing on credit worthiness or insurability or does not furnish any required collateral;
(D) the consumer has a right to prohibit information contained in the consumer’s file with any consumer reporting agency from being used in connection with any credit or insurance transaction that is not initiated by the consumer; and
(E) the consumer may exercise the right referred to in subparagraph (D) by notifying a notification system established under [section 1681b(e) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1681b/e&num=0&edition=prelim).
(2) **Disclosure of address and telephone number; format** — A statement under paragraph (1) shall—
(A) include the address and toll-free telephone number of the appropriate notification system established under [section 1681b(e) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1681b/e&num=0&edition=prelim); 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 Bureau, by rule, in consultation with the Federal Trade Commission, the Federal banking agencies, and the National Credit Union Administration.
(3) **Maintaining criteria on file** — A person who makes an offer of credit or insurance to a consumer under a credit or insurance transaction described in paragraph (1) shall maintain on file the criteria used to select the consumer to receive the offer, all criteria bearing on credit worthiness or insurability, as applicable, that are the basis for determining whether or not to extend credit or insurance pursuant to the offer, and any requirement for the furnishing of collateral as a condition of the extension of credit or insurance, until the expiration of the 3-year period beginning on the date on which the offer is made to the consumer.
(4) **Authority of Federal agencies regarding unfair or deceptive acts or practices not affected** — This section is not intended to affect the authority of any Federal or State agency to enforce a prohibition against unfair or deceptive acts or practices, including the making of false or misleading statements in connection with a credit or insurance transaction that is not initiated by the consumer.
**(e) Red flag guidelines and regulations required**
(1) **Guidelines** — The Federal banking agencies, the National Credit Union Administration, the Federal Trade Commission, the Commodity Futures Trading Commission, and the Securities and Exchange Commission shall jointly, with respect to the entities that are subject to their respective enforcement authority under [section 1681s of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1681s&num=0&edition=prelim)—
(A) establish and maintain guidelines for use by each financial institution and each creditor regarding identity theft with respect to account holders at, or customers of, such entities, and update such guidelines as often as necessary;
(B) prescribe regulations requiring each financial institution and each creditor to establish reasonable policies and procedures for implementing the guidelines established pursuant to subparagraph (A), to identify possible risks to account holders or customers or to the safety and soundness of the institution or customers; and
(C) prescribe regulations applicable to card issuers to ensure that, if a card issuer receives notification of a change of address for an existing account, and within a short period of time (during at least the first 30 days after such notification is received) receives a request for an additional or replacement card for the same account, the card issuer may not issue the additional or replacement card, unless the card issuer, in accordance with reasonable policies and procedures—
(i) notifies the cardholder of the request at the former address of the cardholder and provides to the cardholder a means of promptly reporting incorrect address changes;
(ii) notifies the cardholder of the request by such other means of communication as the cardholder and the card issuer previously agreed to; or
(iii) uses other means of assessing the validity of the change of address, in accordance with reasonable policies and procedures established by the card issuer in accordance with the regulations prescribed under subparagraph (B).
(2) **Criteria**
(A) *In general* — In developing the guidelines required by paragraph (1)(A), the agencies described in paragraph (1) shall identify patterns, practices, and specific forms of activity that indicate the possible existence of identity theft.
(B) *Inactive accounts* — In developing the guidelines required by paragraph (1)(A), the agencies described in paragraph (1) shall consider including reasonable guidelines providing that when a transaction occurs with respect to a credit or deposit account that has been inactive for more than 2 years, the creditor or financial institution shall follow reasonable policies and procedures that provide for notice to be given to a consumer in a manner reasonably designed to reduce the likelihood of identity theft with respect to such account.
(3) **Consistency with verification requirements** — Guidelines established pursuant to paragraph (1) shall not be inconsistent with the policies and procedures required under section 5318(l) of title 31.
(4) **Definitions** — As used in this subsection, the term “creditor”—
(A) means a creditor, as defined in [section 1691a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1691a&num=0&edition=prelim), that regularly and in the ordinary course of business—
(i) obtains or uses consumer reports, directly or indirectly, in connection with a credit transaction;
(ii) furnishes information to consumer reporting agencies, as described in [section 1681s–2 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1681s-2&num=0&edition=prelim), in connection with a credit transaction; or
(iii) advances funds to or on behalf of a person, based on an obligation of the person to repay the funds or repayable from specific property pledged by or on behalf of the person;
(B) does not include a creditor described in subparagraph (A)(iii) that advances funds on behalf of a person for expenses incidental to a service provided by the creditor to that person; and
(C) includes any other type of creditor, as defined in that [section 1691a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1691a&num=0&edition=prelim), as the agency described in paragraph (1) having authority over that creditor may determine appropriate by rule promulgated by that agency, based on a determination that such creditor offers or maintains accounts that are subject to a reasonably foreseeable risk of identity theft.
**(f) Prohibition on sale or transfer of debt caused by identity theft**
(1) **In general** — No person shall sell, transfer for consideration, or place for collection a debt that such person has been notified under [section 1681c–2 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1681c-2&num=0&edition=prelim) has resulted from identity theft.
(2) **Applicability** — The prohibitions of this subsection shall apply to all persons collecting a debt described in paragraph (1) after the date of a notification under paragraph (1).
(3) **Rule of construction** — Nothing in this subsection shall be construed to prohibit—
(A) the repurchase of a debt in any case in which the assignee of the debt requires such repurchase because the debt has resulted from identity theft;
(B) the securitization of a debt or the pledging of a portfolio of debt as collateral in connection with a borrowing; or
(C) the transfer of debt as a result of a merger, acquisition, purchase and assumption transaction, or transfer of substantially all of the assets of an entity.
**(g) Debt collector communications concerning identity theft** If a person acting as a debt collector (as that term is defined in subchapter V) on behalf of a third party that is a creditor or other user of a consumer report is notified that any information relating to a debt that the person is attempting to collect may be fraudulent or may be the result of identity theft, that person shall—
(1) notify the third party that the information may be fraudulent or may be the result of identity theft; and
(2) upon request of the consumer to whom the debt purportedly relates, provide to the consumer all information to which the consumer would otherwise be entitled if the consumer were not a victim of identity theft, but wished to dispute the debt under provisions of law applicable to that person.
**(h) Duties of users in certain credit transactions**
(1) **In general** — Subject to rules prescribed as provided in paragraph (6), if any person uses a consumer report in connection with an application for, or a grant, extension, or other provision of, credit on material terms that are materially less favorable than the most favorable terms available to a substantial proportion of consumers from or through that person, based in whole or in part on a consumer report, the person shall provide an oral, written, or electronic notice to the consumer in the form and manner required by regulations prescribed in accordance with this subsection.
(2) **Timing** — The notice required under paragraph (1) may be provided at the time of an application for, or a grant, extension, or other provision of, credit or the time of communication of an approval of an application for, or grant, extension, or other provision of, credit, except as provided in the regulations prescribed under paragraph (6).
(3) **Exceptions** — No notice shall be required from a person under this subsection if—
(A) the consumer applied for specific material terms and was granted those terms, unless those terms were initially specified by the person after the transaction was initiated by the consumer and after the person obtained a consumer report; or
(B) the person has provided or will provide a notice to the consumer under subsection (a) in connection with the transaction.
(4) **Other notice not sufficient** — A person that is required to provide a notice under subsection (a) cannot meet that requirement by providing a notice under this subsection.
(5) **Content and delivery of notice** — A notice under this subsection shall, at a minimum—
(A) include a statement informing the consumer that the terms offered to the consumer are set based on information from a consumer report;
(B) identify the consumer reporting agency furnishing the report;
(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;
(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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1681a/p&num=0&edition=prelim)); 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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1681g/f/2/A&num=0&edition=prelim), 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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1681g/f/1&num=0&edition=prelim).
(6) **Rulemaking**
(A) *Rules required* — The Bureau shall prescribe rules to carry out this subsection.
(B) *Content* — Rules required by subparagraph (A) shall address, but are not limited to—
(i) the form, content, time, and manner of delivery of any notice under this subsection;
(ii) clarification of the meaning of terms used in this subsection, including what credit terms are material, and when credit terms are materially less favorable;
(iii) exceptions to the notice requirement under this subsection for classes of persons or transactions regarding which the agencies determine that notice would not significantly benefit consumers;
(iv) a model notice that may be used to comply with this subsection; and
(v) the timing of the notice required under paragraph (1), including the circumstances under which the notice must be provided after the terms offered to the consumer were set based on information from a consumer report.
(7) **Compliance** — A person shall not be liable for failure to perform the duties required by this section if, at the time of the failure, the person maintained reasonable policies and procedures to comply with this section.
(8) **Enforcement**
(A) *No civil actions* — Sections 1681n and 1681o of this title shall not apply to any failure by any person to comply with this section.
(B) *Administrative enforcement* — This section shall be enforced exclusively under [section 1681s of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1681s&num=0&edition=prelim) by the Federal agencies and officials identified in that section.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Enforcement by Federal Trade Commission**
(1) **In general** — The Federal Trade Commission shall be authorized to enforce compliance with the requirements imposed by this subchapter under the Federal Trade Commission Act ([15 U.S.C. 41](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section41&num=0&edition=prelim) et seq.), with respect to consumer reporting agencies and all other persons subject thereto, except to the extent that enforcement of the requirements imposed under this subchapter is specifically committed to some other Government agency under any of subparagraphs (A) through (G) of subsection (b)(1), and subject to subtitle B of the Consumer Financial Protection Act of 2010 [[12 U.S.C. 5511](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5511&num=0&edition=prelim) et seq.], subsection (b).11 So in original. For the purpose of the exercise by the Federal Trade Commission of its functions and powers under the Federal Trade Commission Act, a violation of any requirement or prohibition imposed under this subchapter shall constitute an unfair or deceptive act or practice in commerce, in violation of section 5(a) of the Federal Trade Commission Act ([15 U.S.C. 45(a)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section45/a&num=0&edition=prelim)), and shall be subject to enforcement by the Federal Trade Commission under section 5(b) of that Act [[15 U.S.C. 45(b)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section45/b&num=0&edition=prelim)] with respect to any consumer reporting agency or person that is subject to enforcement by the Federal Trade Commission pursuant to this subsection, irrespective of whether that person is engaged in commerce or meets any ot
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 1681s
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** The definitions and rules of construction set forth in this section are applicable for the purposes of this subchapter.
**(b)** The term “applicant” means any person who applies to a creditor directly for an extension, renewal, or continuation of credit, or applies to a creditor indirectly by use of an existing credit plan for an amount exceeding a previously established credit limit.
**(c)** The term “Bureau” means the Bureau of Consumer Financial Protection.
**(d)** The term “credit” means the right granted by a creditor to a debtor to defer payment of debt or to incur debts and defer its payment or to purchase property or services and defer payment therefor.
**(e)** The term “creditor” means any person who regularly extends, renews, or continues credit; any person who regularly arranges for the extension, renewal, or continuation of credit; or any assignee of an original creditor who participates in the decision to extend, renew, or continue credit.
**(f)** The term “person” means a natural person, a corporation, government or governmental subdivision or agency, trust, estate, partnership, cooperative, or association.
**(g)** Any reference to any requirement imposed under this subchapter or any provision thereof includes reference to the regulations of the Bureau under this subchapter or the provision thereof in question.
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 1691a
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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
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Free annual disclosure**
(1) **Nationwide consumer reporting agencies**
(A) *In general* — All consumer reporting agencies described in subsections (p) and (w) 11 See References in Text note below. of [section 1681a of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1681a&num=0&edition=prelim) shall make all disclosures pursuant to [section 1681g of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1681g&num=0&edition=prelim) once during any 12-month period upon request of the consumer and without charge to the consumer.
(B) *Centralized source* — Subparagraph (A) shall apply with respect to a consumer reporting agency described in [section 1681a(p) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1681a/p&num=0&edition=prelim) only if the request from the consumer is made using the centralized source established for such purpose in accordance with section 211(c) 1 of the Fair and Accurate Credit Transactions Act of 2003.
(C) *Nationwide specialty consumer reporting agency*
(i) *In general* — The Commission 22 So in original. Probably should be “Bureau”. shall prescribe regulations applicable to each consumer reporting agency described in section 1681a(w) 1 of this title to require the establishment of a streamlined process for consumers to request consumer reports under subparagraph (A), which shall include, at a minimum, the establishment by each such agency of a toll-free telephone number for such requests.
(ii) *Considerations* — In prescribing regulations under clause (i), the Bureau shall consider—
(I) the significant demands that may be placed on consumer reporting agencies in providing such consumer reports;
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 1681j
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** Definitions and rules of construction set forth in this section are applicable for the purposes of this subchapter.
**(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) Consumer Report.—**
(1) **In general.—** — 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 characteristics, 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—
(A) credit or insurance to be used primarily for personal, family, or household purposes;
(B) employment purposes; or
(C) any other purpose authorized under [section 1681b of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1681b&num=0&edition=prelim).
(2) **Exclusions.—** — Except as provided in paragraph (3), the term “consumer report” does not include—
(A) subject to [section 1681s–3 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1681s-3&num=0&edition=prelim), any—
(i) report containing information solely as to transactions or experiences between the consumer and the person making the report;
(ii) communication of that information among persons related by common ownership or affiliated by corporate control; or
(iii) communication of other information among persons related by common ownership or affiliated by corporate control, if it
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 1681a
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Definitions.—** For purposes of this section—
(1) the term “agency” means agency as defined in section 552(e) 11 See References in Text note below. of this title;
(2) the term “individual” means a citizen of the United States or an alien lawfully admitted for permanent residence;
(3) the term “maintain” includes maintain, collect, use, or disseminate;
(4) the term “record” means any item, collection, or grouping of information about an individual that is maintained by an agency, including, but not limited to, his education, financial transactions, medical history, and criminal or employment history and that contains his name, or the identifying number, symbol, or other identifying particular assigned to the individual, such as a finger or voice print or a photograph;
(5) the term “system of records” means a group of any records under the control of any agency from which information is retrieved by the name of the individual or by some identifying number, symbol, or other identifying particular assigned to the individual;
(6) the term “statistical record” means a record in a system of records maintained for statistical research or reporting purposes only and not used in whole or in part in making any determination about an identifiable individual, except as provided by [section 8 of title 13](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title13-section8&num=0&edition=prelim);
(7) the term “routine use” means, with respect to the disclosure of a record, the use of such record for a purpose which is compatible with the purpose for which it was collected;
(8) the term “matching program”—
(A) means any computerized comparison of—
(i) two or more automated systems of records or a system of records with non-Federal records for the purpose
Source: Supplied U.S. Code snapshot — release unconfirmed · 5 U.S.C. § 552a
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Reinvestigations of disputed information**
(1) **Reinvestigation required**
(A) *In general* — Subject to subsection (f) and except as provided in subsection (g), if the completeness or accuracy of any item of information contained in a consumer’s file at a consumer reporting agency is disputed by the consumer and the consumer notifies the agency directly, or indirectly through a reseller, of such dispute, the agency shall, free of charge, conduct a reasonable reinvestigation to determine whether the disputed information is inaccurate and record the current status of the disputed information, or delete the item from the file in accordance with paragraph (5), before the end of the 30-day period beginning on the date on which the agency receives the notice of the dispute from the consumer or reseller.
(B) *Extension of period to reinvestigate* — Except as provided in subparagraph (C), the 30-day period described in subparagraph (A) may be extended for not more than 15 additional days if the consumer reporting agency receives information from the consumer during that 30-day period that is relevant to the reinvestigation.
(C) *Limitations on extension of period to reinvestigate* — Subparagraph (B) shall not apply to any reinvestigation in which, during the 30-day period described in subparagraph (A), the information that is the subject of the reinvestigation is found to be inaccurate or incomplete or the consumer reporting agency determines that the information cannot be verified.
(2) **Prompt notice of dispute to furnisher of information**
(A) *In general* — Before the expiration of the 5-business-day period beginning on the date on which a consumer reporting agency receives notice of a dispute from any consumer or a reseller in accordance with paragrap
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 1681i
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Informed use of credit** The Congress finds that economic stabilization would be enhanced and the competition among the various financial institutions and other firms engaged in the extension of consumer credit would be strengthened by the informed use of credit. The informed use of credit results from an awareness of the cost thereof by consumers. It is the purpose of this subchapter to assure a meaningful disclosure of credit terms so that the consumer will be able to compare more readily the various credit terms available to him and avoid the uninformed use of credit, and to protect the consumer against inaccurate and unfair credit billing and credit card practices.
**(b) Terms of personal property leases** The Congress also finds that there has been a recent trend toward leasing automobiles and other durable goods for consumer use as an alternative to installment credit sales and that these leases have been offered without adequate cost disclosures. It is the purpose of this subchapter to assure a meaningful disclosure of the terms of leases of personal property for personal, family, or household purposes so as to enable the lessee to compare more readily the various lease terms available to him, limit balloon payments in consumer leasing, enable comparison of lease terms with credit terms where appropriate, and to assure meaningful and accurate disclosures of lease terms in advertisements.
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 1601
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Duty of furnishers of information to provide accurate information**
(1) **Prohibition**
(A) *Reporting information with actual knowledge of errors* — A person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate.
(B) *Reporting information after notice and confirmation of errors* — A person shall not furnish information relating to a consumer to any consumer reporting agency if—
(i) the person has been notified by the consumer, at the address specified by the person for such notices, that specific information is inaccurate; and
(ii) the information is, in fact, inaccurate.
(C) *No address requirement* — A person who clearly and conspicuously specifies to the consumer an address for notices referred to in subparagraph (B) shall not be subject to subparagraph (A); however, nothing in subparagraph (B) shall require a person to specify such an address.
(D) *Definition* — For purposes of subparagraph (A), the term “reasonable cause to believe that the information is inaccurate” means having specific knowledge, other than solely allegations by the consumer, that would cause a reasonable person to have substantial doubts about the accuracy of the information.
(E) *Rehabilitation of private education loans*
(i) *In general* — Notwithstanding any other provision of this section, a consumer may request a financial institution to remove from a consumer report a reported default regarding a private education loan, and such information shall not be considered inaccurate, if—
(I) the financial institution chooses to offer a loan rehabilitation program which includes, without limitation, a requirement of the consumer
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 1681s–2
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** Except as provided in subsections (b) and (c), this subchapter does not annul, alter, affect, or exempt any person subject to the provisions of this subchapter from complying with the laws of any State with respect to the collection, distribution, or use of any information on consumers, or for the prevention or mitigation of identity theft, except to the extent that those laws are inconsistent with any provision of this subchapter, and then only to the extent of the inconsistency.
**(b) General exceptions** No requirement or prohibition may be imposed under the laws of any State—
(1) with respect to any subject matter regulated under—
(A) subsection (c) or (e) of [section 1681b of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1681b&num=0&edition=prelim), relating to the prescreening of consumer reports;
(B) [section 1681i of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1681i&num=0&edition=prelim), relating to the time by which a consumer reporting agency must take any action, including the provision of notification to a consumer or other person, in any procedure related to the disputed accuracy of information in a consumer’s file, except that this subparagraph shall not apply to any State law in effect on September 30, 1996;
(C) subsections (a) and (b) of [section 1681m of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1681m&num=0&edition=prelim), relating to the duties of a person who takes any adverse action with respect to a consumer;
(D) [section 1681m(d) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section1681m/d&num=0&edition=prelim), relating to the duties of persons w
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 1681t
Stored review status: release_metadata_unconfirmed. Incoming connection: Explicit cross-reference supplied in source Markdown; currentness and applicability require review.