093_HB2344eng

 
HB2344 Engrossed                     LRB093 06708 AMC 06842 b

 1        AN ACT concerning business practices.

 2        Be it enacted by the People of  the  State  of  Illinois,
 3    represented in the General Assembly:

 4        Section  5.  The  Consumer  Fraud  and Deceptive Business
 5    Practice Act is amended by adding Section 2MM as follows:

 6        (815 ILCS 505/2MM new)
 7        Sec. 2MM.  Fair credit reporting.
 8        (a)  A credit reporting agency shall,  upon  request  and
 9    proper identification of any consumer, clearly and accurately
10    disclose  to  the consumer all information available to users
11    at the time  of  the  request  pertaining  to  the  consumer,
12    including all of the following:
13             (1)  Any  credit  score or predictor relating to the
14        consumer in a form and manner  that  complies  with  such
15        comments  or  guidelines  as may be issued by the Federal
16        Trade Commission.
17             (2)  The  names  of  users  requesting   information
18        pertaining  to  the  consumer  during  the prior 12-month
19        period and the date of each request.
20             (3)  A  clear  and  concise   explanation   of   the
21        information.
22        (b)  As  frequently  as  new  telephone  directories  are
23    published,  the  credit  reporting  agency  shall cause to be
24    listed its  name  and  number  in  each  telephone  directory
25    published  to  serve communities of this State. In accordance
26    with rules  adopted  by  the  Attorney  General,  the  credit
27    reporting  agency  shall  make  provision  for  consumers  to
28    request by telephone the information required to be disclosed
29    pursuant  to subsection (a) of this Section at no cost to the
30    consumer.
31        (c)  Any time a credit reporting agency  is  required  to
 
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 1    make  a written disclosure to consumers pursuant to 15 U.S.C.
 2    1681g, it shall disclose the following:

 3                    "NOTICE TO ILLINOIS CONSUMERS
 4        (1)  Under Illinois law, you are allowed to  receive  one
 5    free  copy  of  your  credit report every 12 months from each
 6    credit reporting agency. If you would  like  to  obtain  your
 7    free  credit report from (insert name of company), you should
 8    contact us by  writing  to  the  following  address:  (insert
 9    address  for  obtaining  free  credit  report) or calling the
10    following number: (insert telephone number for obtaining free
11    credit report), or both.
12        (2)  If you believe  a  law  regulating  consumer  credit
13    reporting  has  been  violated, you may file a complaint with
14    the Illinois Attorney General."

15        (d)  The information required to  be  disclosed  by  this
16    Section  shall  be  disclosed  in  writing.  The  information
17    required  to  be disclosed pursuant to subsection (c) of this
18    Section  shall  be  disclosed  on  one  side  of  a  separate
19    document, with text no smaller than that  prescribed  by  the
20    Federal  Trade  Commission  for  the notice required under 15
21    U.S.C.  1681q.  The  information  required  to  be  disclosed
22    pursuant to subsection (c) of  this  Section  may  accurately
23    reflect  changes in numerical items that change over time and
24    remain in compliance.
25        (e)  A credit reporting agency shall not impose a  charge
26    for  providing the information required to be disclosed under
27    subsection (a) once every 12 months or notifying  any  person
28    designated by the consumer pursuant to 15 U.S.C. 1681i of the
29    deletion  of  information  that  is found to be inaccurate or
30    that can no longer be verified. For all other disclosures  to
31    consumers of information available to users pertaining to the
32    consumer, the credit reporting agency may impose a reasonable
33    charge, not to exceed $7.50, on the consumer.
 
HB2344 Engrossed            -3-      LRB093 06708 AMC 06842 b
 1        (f)  A credit reporting agency that violates this Section
 2    commits an unlawful practice within the meaning of this Act.