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 10
... customers , so they are in a better position to pro- vide this service than credit bureaus . Our approach is to meet consumers ' demands for fairness in a way that is also fair to industry . This is a complex Act with many facets . But ...
... customers , so they are in a better position to pro- vide this service than credit bureaus . Our approach is to meet consumers ' demands for fairness in a way that is also fair to industry . This is a complex Act with many facets . But ...
Page 14
... customers month- ly through their billings and they can provide other solicitations such as special purchases . We think it would be far easier for the credit grantors to make known that they submit information to the credit bureaus ...
... customers month- ly through their billings and they can provide other solicitations such as special purchases . We think it would be far easier for the credit grantors to make known that they submit information to the credit bureaus ...
Page 23
... customers , and by marketers to produce mail- ing lists for everything from credit cards to time - sharing resort complexes . These technological advances have increased the availability and usage of credit information at the expense of ...
... customers , and by marketers to produce mail- ing lists for everything from credit cards to time - sharing resort complexes . These technological advances have increased the availability and usage of credit information at the expense of ...
Page 42
... customer will be assured of having a new cause of action in the event the creditor seeks to recover the balance due on the delinquent account . That is not warranted . Consumers already ... customers . Thus , it would be a highly anti 42.
... customer will be assured of having a new cause of action in the event the creditor seeks to recover the balance due on the delinquent account . That is not warranted . Consumers already ... customers . Thus , it would be a highly anti 42.
Page 43
... customers . Thus , it would be a highly anti - competitive measure . It would also force creditors to rely on other less reliable sources for lists of potential new customers . Moreover , the prohibition on prescreening would not reduce ...
... customers . Thus , it would be a highly anti - competitive measure . It would also force creditors to rely on other less reliable sources for lists of potential new customers . Moreover , the prohibition on prescreening would not reduce ...
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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.