Amendments to the Fair Credit Reporting Act: Hearing Before the Subcommittee on Consumer Affairs and Coinage of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, One Hundred First Congress, Second Session, June 12, 1990 |
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Page 5
... action on the part of the consumer ? Mr. RINALDO . That is correct . I feel in too many instances credit reports are used for marketing purposes and a whole variety of purposes . I cited some of those in my testimony . I think that prac ...
... action on the part of the consumer ? Mr. RINALDO . That is correct . I feel in too many instances credit reports are used for marketing purposes and a whole variety of purposes . I cited some of those in my testimony . I think that prac ...
Page 6
... action that is needed to correct these reports . And they should be doing that . If they can't do it , they shouldn't be in the business . It is that simple . Chairman LEHMAN . Thank you . Mr. Hiler , I mentioned at the outset I would ...
... action that is needed to correct these reports . And they should be doing that . If they can't do it , they shouldn't be in the business . It is that simple . Chairman LEHMAN . Thank you . Mr. Hiler , I mentioned at the outset I would ...
Page 10
... action , we would require consumers be told at a minimum the name of the bureau that fur- nished the responsible credit report and his or her rights and reme- dies under the Act . We support requiring credit grantors to let consumers ...
... action , we would require consumers be told at a minimum the name of the bureau that fur- nished the responsible credit report and his or her rights and reme- dies under the Act . We support requiring credit grantors to let consumers ...
Page 31
... action . In the case of disputes that prove to be the result of mis- takes by the subscriber , we believe that the consumer should be en- titled to free disclosure of his file from any and all of the credit bureaus to which inaccurate ...
... action . In the case of disputes that prove to be the result of mis- takes by the subscriber , we believe that the consumer should be en- titled to free disclosure of his file from any and all of the credit bureaus to which inaccurate ...
Page 42
... action in the event the creditor seeks to recover the balance due on the delinquent account . That is not warranted . Consumers already have substantial rights to dis- pute their account balance under the Fair Credit Billing Act provi ...
... action in the event the creditor seeks to recover the balance due on the delinquent account . That is not warranted . Consumers already have substantial rights to dis- pute their account balance under the Fair Credit Billing Act provi ...
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Common terms and phrases
addition adverse action Affairs and Coinage AFSA amended application banks believe broker CBA and ABA Chairman LEHMAN charge complaints Congress Consumer Affairs consumer credit consumer reporting agency consumer's credit consumer's file copy correct cost credit bureaus credit card credit file credit grantors credit history credit information credit repair organization Credit Reporting Act credit reporting agencies credit scoring creditors customers denied credit direct marketing disclosure dispute enforcement ensure Equifax errors Fair Credit Reporting FCRA Federal Trade Commission GUITON HILER Honorable Richard inaccurate information inquiries legislation limit loan Lotus MarketPlace mailing mortgage NOONAN notice notify obtain opt-out payment permissible purpose person pre-approved problem procedures prohibit proposed protection receive records reinvestigation reporting companies request require response Rinaldo Schumer Section 604 solicitation statement Subcommittee on Consumer subscriber subsection sumer testimony Trans Union transaction U.S. PIRG users violation
Popular passages
Page 72 - consumer credit report" means any written, oral or other communication of any information by a consumer reporting agency bearing on a consumer's credit worthiness, credit standing, credit capacity, character, general reputation, personal characteristics or mode of living...
Page 672 - ... shall be fined not more than $5,000, or imprisoned for not more than one year, or both.
Page 94 - ... (2) in accordance with the written instructions of the consumer to whom it relates; (3) to a person which it has reason to believe: (a) intends to use the information in connection with a credit transaction involving the consumer on whom the information is to be furnished and involving the extension of credit to, or review or collection of an account...
Page 775 - There must be a way for an individual to prevent information about him that was obtained for one purpose from being used or made available for other purposes without his consent.
Page 767 - I hope this information will be helpful to you, and if I can be of any further assistance, please do not hesitate to call on me.
Page 88 - The views expressed in this statement represent the views of the Commission. My oral presentation and responses to questions are my own and do not necessarily represent the views of the Commission or any Commissioner.
Page 676 - Following: any deletion of information which is found to be Inaccurate or whose accuracy can no longer be verified or any notation as to disputed information, the consumer reporting: agency shall, at the request of the consumer, furnish notification that the Item has been deleted or the statement, codification or summary pursuant to subsection (b) or (c...
Page 403 - State bank, a federally chartered depository institution (including a national bank) or a depository institution whose deposits and accounts are insured by the Federal Deposit Insurance Corporation, the Federal Savings and Loan Insurance Corporation, or the National Credit Union Administration...
Page 246 - ... (2) not less than $100 or more than $1,000; except that in any case where the defendant establishes that the overcharge was not intentional...
Page 310 - Expenses of occasional public service efforts may be met, in part, by nonrestrictive, noncommercial contributions, grants and fees. In addition to reports on Consumers Union's own product testing, Consumer Reports.