Report Title:

Consumer Credit History; Free Annual Report

Description:

Requires credit reporting agencies to provide consumers with one free consumer report per twelve-month period.

THE SENATE

S.B. NO.

916

TWENTY-SECOND LEGISLATURE, 2003

 

STATE OF HAWAII

 


 

A BILL FOR AN ACT

 

relating to unfair and deceptive practices.

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. Chapter 481B, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:

"481B-   Consumer credit report; annual free report. (a) Each credit reporting agency shall furnish without charge to any consumer who has requested a copy of the consumer's credit report and who has provided verification of the consumer's identity, one complete consumer credit report per twelve-month period.

(b) For purposes of this section:

"Consumer" means a natural person residing in this State.

"Consumer credit report" includes:

(1) Any written, oral, or other communication of any information by a credit reporting agency bearing on a consumer's credit worthiness, credit standing, or credit capacity, that is used or expected to be used or collected in whole or in part:

(A) To determine the consumer's eligibility for credit or insurance to be used primarily for personal, family, or household purposes; or

(B) For employment purposes;

(2) Any credit score or predictor relating to the consumer in a form and manner that complies with Federal Trade Commission comments and guidelines;

(3) The names of users requesting information pertaining to the customer during the prior twelve-month period and the date of each request; and

(4) A clear and concise explanation of the information in a readable format and in at least ten point type.

"Consumer credit report" does not include information solely pertaining to transactions or experiences between the consumer and the person making the report, or an authorization or approval of a specific extension of credit directly or indirectly by the issuer of a credit card or similar device.

"Credit reporting agency" means any person who, for monetary fees or 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 reports to third parties.

"Employment purposes" means purposes related to the evaluation of a consumer for hiring, promotion, reassignment, or retention as an employee.

"Person" means any individual, corporation, government, governmental subdivision or agency, business trust, estate, trust, partnership, limited liability company, association, joint venture, or any other legal or commercial entity."

SECTION 2. New statutory material is underscored.

SECTION 3. This Act shall take effect upon its approval.

INTRODUCED BY:

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