(a) Information excluded from
consumer reports. Except as authorized under subsection (b),
no consumer reporting agency may make any consumer report containing
any of the following items of information:
(1) Cases under title 11 of the United
States Code or under the Bankruptcy Act that, from the date of entry
of the order for relief or the date of adjudication, as the case may
be, antedate the report by more than 10 years.
(2) Civil suits, civil judgments, and records
of arrest that, from date of entry, antedate the report by more than
seven years or until the governing statute of limitations has expired,
whichever is the longer period.
(3) Paid tax liens which, from date of payment, antedate the report
by more than seven years.
(4) Accounts
placed for collection or charged to profit and loss which antedate
the report by more than seven years.
(5) Any other adverse item of information, other than records of
convictions of crimes, which antedates the report by more than seven
years.
(6) The name, address, and
telephone number of any medical information furnisher that has notified
the agency of its status, unless—
(A) such name, address, and telephone number
are restricted or reported using codes that do not identify, or provide
information sufficient to infer, the specific provider or the nature
of such services, products, or devices to a person other than the
consumer; or
(B) the report is
being provided to an insurance company for a purpose relating to engaging
in the business of insurance other than property and casualty insurance.
(b) The provisions of paragraphs (1) through
(5) of subsection (a) are not applicable in the case of any consumer
credit report to be used in connection with—
(1) a credit transaction involving, or
which may reasonably be expected to involve, a principal amount of
$150,000 or more;
(2) the underwriting
of life insurance involving, or which may reasonably be expected to
involve, a face amount of $150,000 or more; or
(3) the employment of any individual at
an annual salary which equals, or which may reasonably be expected
to equal $75,000, or more.
6-1555.1
(c) Running of reporting period.
(1) The 7-year period referred to in paragraphs
(4) and (6) of subsection (a) shall begin, with respect to any delinquent
account that is placed for collection (internally or by referral to
a third party, whichever is earlier), charged to profit and loss,
or subjected to any similar action, upon the expiration of the 180-day
period beginning on the date of the commencement of the delinquency
which immediately preceded the collection activity, charge to profit
and loss, or similar action.
(2)
Paragraph (1) shall apply only to items of information added to the
file of a consumer on or after the date that is 455 days after the
date of enactment of the Consumer Credit Reporting Reform Act of 1996.
(d) Information required
to be disclosed.
(1) Any consumer reporting agency that furnishes a consumer report
that contains information regarding any case involving the consumer
that arises under title 11, United States Code, shall include in the
report an identification of the chapter of such title 11 under which
such case arises if provided by the source of the information. If
any case arising or filed under title 11, United States Code, is withdrawn
by the consumer before a final judgment, the consumer reporting agency
shall include in the report that such case or filing was withdrawn
upon receipt of documentation certifying such withdrawal.
(2) Any consumer reporting agency that
furnishes a consumer report that contains any credit score or any
other risk score or predictor on any consumer shall include in the
report a clear and conspicuous statement that a key factor (as defined
in section 609(f)(2)(B)) that adversely affected such score or predictor
was the number of enquiries, if such a predictor was in fact a key
factor that adversely affected such score. This paragraph shall not
apply to a check services company, acting as such, which issues authorizations
for the purpose of approving or processing negotiable instruments,
electronic fund transfers, or similar methods of payments, but only
to the extent that such company is engaged in such activities.
6-1555.2
(e) Indication of closure of account
by consumer. If a consumer reporting agency is notified pursuant
to section 623(a)(4) that a credit account of a consumer was voluntarily
closed by the consumer, the agency shall indicate that fact in any
consumer report that includes information related to the account.
(f) Indication of dispute by consumer. If a consumer reporting agency is notified pursuant to section 623(a)(3)
that information regarding a consumer who was furnished to the agency
is disputed by the consumer, the agency shall indicate that fact in
each consumer report that includes the disputed information.
6-1555.21
(g) Truncation of credit card and debit card numbers.
(1) Except as otherwise
provided in this subsection, no person that accepts credit cards or
debit cards for the transaction of business shall print more than
the last 5 digits of the card number or the expiration date upon any
receipt provided to the cardholder at the point of the sale or transaction.
(2) This subsection shall apply only
to receipts that are electronically printed, and shall not apply to
transactions in which the sole means of recording a credit card or
debit card account number is by handwriting or by an imprint or copy
of the card.
(3) This subsection
shall become effective—
(A) 3 years after the date of enactment of this subsection, with
respect to any cash register or other machine or device that electronically
prints receipts for credit card or debit card transactions that is
in use before January 1, 2005; and
(B) 1 year after the date of enactment of this subsection, with respect
to any cash register or other machine or device that electronically
prints receipts for credit card or debit card transactions that is
first put into use on or after January 1, 2005.
6-1555.22
(h) Notice of discrepancy in address.
(1) If a person has
requested a consumer report relating to a consumer from a consumer
reporting agency described in section 603(p), the request includes
an address for the consumer that substantially differs from the addresses
in the file of the consumer, and the agency provides a consumer report
in response to the request, the consumer reporting agency shall notify
the requester of the existence of the discrepancy.
(2)(A) The Bureau shall,
in consultation with the Federal banking agencies, the National Credit
Union Administration, and the Federal Trade Commission, prescribe
regulations providing guidance regarding reasonable policies and procedures
that a user of a consumer report should employ when such user has
received a notice of discrepancy under paragraph (1).
(B) The regulations prescribed under
subparagraph (A) shall describe reasonable policies and procedures
for use by a user of a consumer report—
(i) to form a reasonable belief that the user
knows the identity of the person to whom the consumer report pertains;
and
(ii) if the user establishes a
continuing relationship with the consumer, and the user regularly
and in the ordinary course of business furnishes information to the
consumer reporting agency from which the notice of discrepancy pertaining
to the consumer was obtained, to reconcile the address of the consumer
with the consumer reporting agency by furnishing such address to such
consumer reporting agency as part of information regularly furnished
by the user for the period in which the relationship is established.
[15 USC 1681c. As amended
by acts of Nov. 6, 1978 (92 Stat. 2676); Sept. 30, 1996 (110 Stat.
3009-434, 435); Nov. 2, 1998 (112 Stat. 3211); Dec. 4, 2003 (117 Stat.
1959, 1977, 1966, 2002); and July 21, 2010 (124 Stat. 2087).]
