A bill to amend the Fair Credit Reporting Act dealing with insurance institutions and privacy.

Summary

Amends the Fair Credit Reporting Act to impose restrictions on insurance institutions and insurance support organizations on the collection, use, and disclosure of consumer information. Requires any such institution to develop and maintain procedures to assure the accuracy of information it collects or discloses about an individual. Requires an insurance institution, upon request, to inform an individual whether it has recorded information pertaining to him and to permit such person to see, copy, and request correction or amendment of such information. Restricts disclosure of medical record information by an institution to another insurance institution or insurance support organization. Requires an institution which obtains an investigative report on an applicant to inform such person that he may be interviewed in connection with preparation of such report. Requires an institution to disclose to any individual who is the subject of an adverse underwriting decision: (1) the specific reason for the adverse decision; (2) the specific information relied upon, including identification of institutional sources; (3) the individual's right to inspect and copy such information; (4) amendment procedures; and (5) rights provided under the Fair Credit Reporting Act. Requires an institution, before collecting information about an insured individual or applicant, to disclose to such person specific information, including all types of information which may be collected and all types of sources of information. Prohibits an insurance institution or insurance support organization from disclosing individually identifiable information without authorization, with specified exceptions. Authorizes the Federal Trade Commission to prescribe regulations to carry out this Act and to enforce compliance.

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Documents

1 official file

• Introduced in House

  summary · EN · 22 January 1981

  Open at official source

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