Consumer Control Of Consumer Credit Information

Section 1 of the bill authorizes a consumer to require a consumer reporting agency to obtain the consumer's consent:

• Before furnishing a consumer report concerning the consumer to a third party, except where the consumer reporting agency furnishes the consumer report in response to a court order; or
• To sell, provide a copy of, or otherwise furnish to a third party any information in the file that the consumer reporting agency has on the consumer.

The consumer reporting agency must provide notice to the consumer of the consumer's right to require such consent.

Section 2 requires a consumer reporting agency to develop procedures by which a consumer, whose consumer or personal information has been hacked, altered, or otherwise compromised as a result of a security breach that occurred on or after January 1, 2017, at the consumer reporting agency, may request that the consumer reporting agency, free of charge:

• Turn over to the consumer the consumer's file and any consumer reports that the consumer reporting agency has developed in relation to the consumer;
• Purge from its physical and electronic records any information in the consumer's file and any consumer reports developed in connection with the consumer; and
• No longer record and retain any information related to the consumer.

Section 2 further provides that the procedures a consumer reporting agency develops would not apply to publicly available information in a consumer's file and may include procedures for handling third-party requests for credit scoring, creditworthiness, or other information related to the consumer.

(Note: This summary applies to this bill as introduced.)