§ 1681c. — Requirements relating to information contained in consumer reports.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC1681c]
TITLE 15--COMMERCE AND TRADE
CHAPTER 41--CONSUMER CREDIT PROTECTION
SUBCHAPTER III--CREDIT REPORTING AGENCIES
Sec. 1681c. Requirements relating to information contained in
consumer reports
(a) Information excluded from consumer reports
Except as authorized under subsection (b) of this section, no
consumer reporting agency may make any consumer report containing any of
the following items of information:
(1) cases \1\ under title 11 or under the Bankruptcy Act that, from
the date of entry of the order for relief or the date of adjudication,
as the case may be, antedate the report by more than 10 years.
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\1\ So in original. Probably should be capitalized.
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(2) Civil suits, civil judgments, and records of arrest that, from
date of entry, antedate the report by more than seven years or until the
governing statute of limitations has expired, whichever is the longer
period.
(3) Paid tax liens which, from date of payment, antedate the report
by more than seven years.
(4) Accounts placed for collection or charged to profit and loss
which antedate the report by more than seven years.
(5) Any other adverse item of information, other than records of
convictions of crimes which antedates the report by more than seven
years.
(b) Exempted cases
The provisions of subsection (a) of this section are not applicable
in the case of any consumer credit report to be used in connection
with--
(1) a credit transaction involving, or which may reasonably be
expected to involve, a principal amount of $150,000 or more;
(2) the underwriting of life insurance involving, or which may
reasonably be expected to involve, a face amount of $150,000 or
more; or
(3) the employment of any individual at an annual salary which
equals, or which may reasonably be expected to equal $75,000, or
more.
(c) Running of reporting period
(1) In general
The 7-year period referred to in paragraphs (4) and (6) of
subsection (a) of this section shall begin, with respect to any
delinquent account that is placed for collection (internally or by
referral to a third party, whichever is earlier), charged to profit
and loss, or subjected to any similar action, upon the expiration of
the 180-day period beginning on the date of the commencement of the
delinquency which immediately preceded the collection activity,
charge to profit and loss, or similar action.
(2) Effective date
Paragraph (1) shall apply only to items of information added to
the file of a consumer on or after the date that is 455 days after
September 30, 1996.
(d) Information required to be disclosed
Any consumer reporting agency that furnishes a consumer report that
contains information regarding any case involving the consumer that
arises under title 11 shall include in the report an identification of
the chapter of such title 11 under which such case arises if provided by
the source of the information. If any case arising or filed under title
11 is withdrawn by the consumer before a final judgment, the consumer
reporting agency shall include in the report that such case or filing
was withdrawn upon receipt of documentation certifying such withdrawal.
(e) Indication of closure of account by consumer
If a consumer reporting agency is notified pursuant to section
1681s-2(a)(4) of this title that a credit account of a consumer was
voluntarily closed by the consumer, the agency shall indicate that fact
in any consumer report that includes information related to the account.
(f) Indication of dispute by consumer
If a consumer reporting agency is notified pursuant to section
1681s-2(a)(3) of this title that information regarding a consumer who
\2\ was furnished to the agency is disputed by the consumer, the agency
shall indicate that fact in each consumer report that includes the
disputed information.
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\2\ So in original. Probably should be ``which''.
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(Pub. L. 90-321, title VI, Sec. 605, as added Pub. L. 91-508, title VI,
Sec. 601, Oct. 26, 1970, 84 Stat. 1129; amended Pub. L. 95-598, title
III, Sec. 312(b), Nov. 6, 1978, 92 Stat. 2676; Pub. L. 104-208, div. A,
title II, Sec. 2406(a)-(e)(1), Sept. 30, 1996, 110 Stat. 3009-434, 3009-
435; Pub. L. 105-347, Sec. 5, Nov. 2, 1998, 112 Stat. 3211.)
References in Text
The Bankruptcy Act, referred to in subsec. (a)(1), was act July 1,
1898, ch. 541, 30 Stat. 544, as amended, which was classified to section
1 et seq. of former Title 11, Bankruptcy, prior to its repeal by Pub. L.
95-598, Nov. 6, 1978, 92 Stat. 2549, section 101 of which enacted
revised Title 11.
Amendments
1998--Subsec. (a)(2). Pub. L. 105-347, Sec. 5(1), which directed the
amendment of par. (2) by substituting ``Civil suits, civil judgments,
and records of arrest that'' for ``Suits and Judgments which'', was
executed by making the substitution for ``Suits and judgments which'' to
reflect the probable intent of Congress.
Subsec. (a)(5), (6). Pub. L. 105-347, Sec. 5(2)-(4), redesignated
par. (6) as (5), inserted ``, other than records of convictions of
crimes'' after ``of information'', and struck out former par. (5) which
read as follows: ``Records of arrest, indictment, or conviction of crime
which, from date of disposition, release, or parole, antedate the report
by more than seven years.''
1996--Pub. L. 104-208, Sec. 2406(e)(1), amended section catchline.
Subsec. (a). Pub. L. 104-208, Sec. 2406(a)(1), inserted heading.
Subsec. (b). Pub. L. 104-208, Sec. 2406(a)(2), substituted
``$150,000'' for ``$50,000'' in pars. (1) and (2) and ``$75,000'' for
``$20,000'' in par. (3).
Subsec. (c). Pub. L. 104-208, Sec. 2406(b), added subsec. (c).
Subsec. (d). Pub. L. 104-208, Sec. 2406(c), added subsec. (d).
Subsecs. (e), (f). Pub. L. 104-208, Sec. 2406(d), added subsecs. (e)
and (f).
1978--Subsec. (a)(1). Pub. L. 95-598 substituted ``cases under title
11 or under the Bankruptcy Act that, from the date of entry of the order
for relief or the date of adjudication, as the case may be, antedate the
report by more than 10 years'' for ``Bankruptcies which, from date of
adjudication of the most recent bankruptcy, antedate the report by more
than fourteen years''.
Effective Date of 1998 Amendment
Amendment by Pub. L. 105-347 deemed to have same effective date as
amendments made by section 2403 of Pub. L. 104-208, see section 7 of
Pub. L. 105-347, set out as a note under section 1681a of this title.
Effective Date of 1996 Amendment
Amendment by Pub. L. 104-208 effective 365 days after Sept. 30,
1996, with special rule for early compliance, see section 2420 of Pub.
L. 104-208, set out as a note under section 1681a of this title.
Effective Date of 1978 Amendment
Amendment by Pub. L. 95-598 effective Oct. 1, 1979, see section
402(a) of Pub. L. 95-598, set out as an Effective Date note preceding
section 101 of Title 11, Bankruptcy.
Section Referred to in Other Sections
This section is referred to in sections 1681e, 1681g, 1681t of this
title; title 20 sections 1080a, 1087cc.
