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2001 SESSION

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018909416
SENATE BILL NO. 971 Offered January 10, 2001 Prefiled January 9, 2001 A BILL to amend the Code of Virginia by adding in Title 59.1 a chapter numbered 35.1, consisting of sections numbered 59.1-444.1, 59.1-444.2 and 59.1-444.3, relating to consumer credit reporting. ---------- Patron-- Couric ---------- Referred to Committee on Commerce and Labor ----------

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding in Title 59.1 a chapter numbered 35.1, consisting of sections numbered 59.1-444.1, 59.1-444.2 and 59.1-444.3, as follows:

CHAPTER 35.1. CONSUMER CREDIT REPORTING.

§ 59.1-444.1. Definitions.

As used in this chapter:

"Consumer" means an individual.

"Consumer credit 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 that 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 credit or insurance to be used primarily for personal, family or household purposes. The term "consumer credit report" does not include any (i) report containing information solely on transactions or experiences between the consumer and the person making the report; communication of that information among persons related by common ownership or affiliated by corporate control; or communication of other information among persons related by common ownership or affiliated by corporate control, if it is clearly and conspicuously disclosed to the consumer that the information may be communicated among those persons and the consumer is given the opportunity, before the time that the information is initially communicated, to direct that the information not be communicated among those persons; (ii) authorization or approval of a specific extension of credit directly or indirectly by the issuer of a credit card or similar device; (iii) 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 that request, if the third party advises the consumer of the name and address of the person to whom the request was made, and the person makes the disclosures to the consumer required under 15 U.S.C. § 1681 m; or (iv) communication excluded from the definition of consumer credit report pursuant to subsection (o) of section 603 of the federal act.

"Consumer reporting agency" means any person who, for monetary fees, dues, or on a cooperative nonprofit basis, regularly engages, in whole or in part, in the practice of assembling or evaluating consumer credit information or other information on consumers for the purpose of furnishing consumer credit reports to third parties, and who uses any means or facility for the purpose of preparing or furnishing consumer credit reports.

"Federal act" means the federal Fair Credit Reporting Act, 15 U.S.C. § 1681 et seq.

"File" means, when used in connection with information on any consumer, all of the information on that consumer recorded and retained by a consumer reporting agency regardless of how the information is stored.

§ 59.1-444.2. Disclosures to consumer.

A. Every consumer reporting agency shall, upon request and proper identification of any consumer, clearly and accurately disclose to the consumer:

1. All information in the consumer's file at the time of the request.

2. The sources of the information.

3. The identification of each person who procured a consumer credit report during the one-year period preceding the date on which the request is made.

4. An identification of a person under subdivision 3 that shall include (i) the name of the person, or, if applicable, the trade name written in full under which the person conducts business; and (ii) upon request of the consumer, the address and telephone number of the person.

5. The dates, original payees, and amounts of any checks upon which is based any adverse characterization of the consumer, included in the file at the time of the disclosure.

6. A record of all inquiries received by the agency during the one-year period preceding the request that identified the consumer in connection with a credit or insurance transaction that was not initiated by the consumer.

B. A consumer reporting agency shall make such disclosures during normal business hours and on reasonable notice. The disclosures shall be made to the consumer:

1. In person if the consumer appears in person and furnishes proper identification; or

2. By telephone if the consumer has made a written request, with proper identification, for telephone disclosure, and the toll charge, if any, for the telephone call is prepaid by or charged directly to the consumer.

§ 59.1-444.3. Charges to consumer.

In addition to any disclosures to a consumer for which the federal act prohibits a consumer reporting agency from charging the consumer, upon the request of the consumer, a consumer reporting agency shall make all disclosures required pursuant to § 59.1-444.2 once during any twelve-month period without charge to the consumer. For the second or subsequent request in a twelve-month period, a consumer reporting agency may charge a consumer for making a disclosure pursuant to § 59.1-444.2; however, the amount charged shall not exceed the amount permitted under the federal act.