10 §1313-B. Requirements relating to information contained in consumer reports - Maine Statutes

Title 10: COMMERCE AND TRADE

Part 3: REGULATION OF TRADE

Chapter 210: FAIR CREDIT REPORTING ACT

§1313-B. Requirements relating to information contained in consumer reports

1. Information excluded from consumer reports; prohibited items. Except as authorized under subsection 2, a consumer reporting agency may not make any consumer reports containing any of the following items of information:

A. Cases under federal law, Title 11 or under the federal 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; [2001, c. 371, §12 (NEW).]

B. Civil suits, civil judgments and records of arrest that, from date of entry, antedate the report by more than 7 years or until the governing statute of limitations has expired, whichever is the longer period; [2001, c. 371, §12 (NEW).]

C. Paid tax liens that, from date of payment, antedate the report by more than 7 years; [2001, c. 371, §12 (NEW).]

D. Accounts placed for collection or charged to profit and loss that antedate the report by more than 7 years; or [2001, c. 371, §12 (NEW).]

E. Any other adverse item of information, other than records of conviction of crimes, that antedates the report by more than 7 years. [2001, c. 371, §12 (NEW).]

[ 2001, c. 371, §12 (NEW) .]

2. Exempted cases. The provisions of subsection 1 are not applicable in the case of any consumer credit report to be used in connection with:

A. A credit transaction involving, or that may reasonably be expected to involve, a principal amount of $150,000 or more; [2001, c. 371, §12 (NEW).]

B. The underwriting of life insurance involving, or that may reasonably be expected to involve, a face amount of $150,000 or more; or [2001, c. 371, §12 (NEW).]

C. The employment of any individual at an annual salary that equals, or that may reasonably be expected to equal, $75,000 or more. [2001, c. 371, §12 (NEW).]

[ 2001, c. 371, §12 (NEW) .]

3. Running of reporting period. The reporting period for consumer reports runs as follows.

A. The 7-year period referred to in subsection 1, paragraphs D and E begins with respect to any delinquent account that is placed for collection, internally or by referral to a 3rd party, whichever is earlier, charged to profit and loss or subjected to any similar action upon the expiration of a 180-day period beginning on the date of the commencement of the delinquency that immediately preceded the collection activity, charge to profit and loss or similar action. [2001, c. 371, §12 (NEW).]

B. Paragraph A applies only to items of information added to the file of a consumer on or after December 30, 1997. [2001, c. 371, §12 (NEW).]

[ 2001, c. 371, §12 (NEW) .]

4. Information required to be disclosed. Any consumer reporting agency that furnishes a consumer report that contains information regarding any case involving a consumer that arises under federal law or Title 11 shall include in the report an identification of the chapter of Title 11 under which the 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 the case or filing was withdrawn upon receipt of documentation certifying the withdrawal.

[ 2001, c. 371, §12 (NEW) .]

5. Indication of closure of account by consumer. If a consumer reporting agency is notified pursuant to section 1320-A, subsection 4 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.

[ 2001, c. 371, §12 (NEW) .]

6. Indication of dispute by consumer. If a consumer reporting agency is notified pursuant to section 1320-A, subsection 3 that information regarding a consumer that 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.

[ 2001, c. 371, §12 (NEW) .]

SECTION HISTORY

2001, c. 371, §12 (NEW).