Consumer Credit Reporting Reform Act of 1991

Summary

Consumer Credit Reporting Reform Act of 1991 - Amends the Fair Credit Reporting Act to place additional restrictions on the permissible purposes of consumer reports. Allows a consumer reporting agency (CRA) to furnish a consumer report, and a person to use such a report, for employment purposes, if the employment requires a security clearance, a fidelity bond, or other fiduciary reason. Requires the person who obtains such report to certify to the CRA that disclosures regarding it have been made to the affected prospective or existing employee, except in the case of wrongful activity. Allows a CRA to furnish a consumer report in connection with any credit transaction which is not initiated by the consumer only if: (1) the consumer authorizes the CRA to provide such report; or (2) the consumer has received a certain notice that information from the consumer's file may be used and the consumer has had the opportunity to notify the agency of non-consent on the use of such information. Requires CRAs which furnish such reports to maintain a notification system which permits the consumer to elect to have his name and address removed from any list of names and addresses provided by such agency with respect to such reports. Requires CRAs which compile and maintain reports on a nationwide basis to establish a nationwide notification system. Allows CRAs to establish joint nationwide notification systems. Repeals exemptions to obsolete information reporting prohibitions relating to credit, life insurance, or employment involving amounts over specified sums. Requires, in a bankruptcy case, that a description of the chapter under which such case arises be included in a consumer report. Provides, with respect to the ban on reporting certain information on delinquent accounts more than seven years old, that such seven-year period commence not later than the end of the 180-day period beginning on the date the account becomes past due. Prohibits the disclosure of personal credit information which antedates the credit report by more than ten years or which cannot be included because of provisions regarding reporting obsolete information. Prohibits a CRA from prohibiting any report user from disclosing the contents of a report to the consumer. Requires a CRA to notify users and providers of information of their responsibilities. Requires a CRA to maintain certain records regarding: (1) the identity of users; and (2) the certified purpose for which any information relating to any consumer is requested by any person. Requires the disclosure of all information in the consumer's file at the time of the consumer's request, including any credit score and any medical information. Allows the provision of information in such file in a form other than in writing at the request of the consumer. Requires that: (1) certain disclosures by a CRA to a consumer required by current law be in writing; (2) certain information be disclosed to the consumer regarding identification of any person who had access to any information in the consumer's file; and (3) any disclosure by a CRA to any consumer under specified provisions include a summary of all the consumer's rights and remedies under the Fair Credit Reporting Act. Requires that such a summary be included in disclosures relating to: (1) investigative consumer reports; and (2) reports focusing on public record information for employment purposes. Requires reinvestigations in case of disputed accuracy to be completed within 30 days. (Current law requires completion within a reasonable time.) Requires prompt notice (within 5 days) of the dispute to the provider of the information. Sets forth requirements regarding: (1) notice upon a determination that a dispute is frivolous or irrelevant; (2) deletion of inaccurate or unverifiable information; and (3) notice of the results of a reinvestigation. Sets a dollar limit on charges which may be imposed by a CRA for certain disclosures and requires such disclosures to be made within 60 days (currently, 30 days). Revises the duties of users of consumer reports, including requiring the user to provide: (1) written notice of any adverse action; (2) the written summary of the consumer's rights and remedies prepared under specified provisions; and (3) a toll-free telephone number of the CRA. Sets forth duties of users who make solicitations on the basis of information contained in consumer files. Makes any person who furnishes information to any CRA (as well as CRAs and users of reports) civilly liable for willful noncompliance and for negligent noncompliance with the Act. Sets forth factors to be taken into account by the court in considering punitive damages. Sets forth procedures to ensure the maximum possible accuracy of information furnished to CRAs. Requires furnishers of information to provide complete and accurate information. Sets forth the duties of furnishers of information upon notice of a dispute on such completeness and accuracy. Requires any person who regularly furnishes information to a CRA to give notice of such fact in writing to the consumer before providing information about the consumer to the CRA. Increases criminal penalties for any person who obtains information from a CRA under false pretenses. Makes all functions and powers of the Federal Trade Commission (FTC) under the Federal Trade Commission Act (FTCA) available to the FTC to enforce compliance. (Current law links enforcement to specified provisions of the FTCA.)

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4 official files

• Reported in House (text)

  Reported in House · EN

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• Introduced in House (text)

  Introduced in House · EN

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• Reported to House with amendment(s)

  summary · EN · 23 July 1992

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• Introduced in House

  summary · EN · 22 October 1991

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