10 §1320-A. Responsibilities of persons who furnish information to consumer reporting agencies - Maine Statutes

Title 10: COMMERCE AND TRADE

Part 3: REGULATION OF TRADE

Chapter 210: FAIR CREDIT REPORTING ACT

§1320-A. Responsibilities of persons who furnish information to consumer reporting agencies

1. Duty of furnishers of information to provide accurate information. A person who furnishes information to consumer reporting agencies has the following duties.

A. A person may not furnish any information relating to a consumer to any consumer reporting agency if the person knows or has reason to know that the information is inaccurate. [1997, c. 155, Pt. B, §10 (NEW); 1997, c. 155, Pt. B, §13 (AFF).]

B. A person may not furnish information relating to a consumer to any consumer reporting agency if:

(1) The person has been notified by the consumer, at the address specified by the person for such notices, that specific information is inaccurate; and

(2) The information is, in fact, inaccurate. [1997, c. 155, Pt. B, §10 (NEW); 1997, c. 155, Pt. B, §13 (AFF).]

C. A person who clearly and conspicuously specifies to the consumer an address for notices referred to in paragraph B is not subject to paragraph A; however, nothing in paragraph B requires a person to specify such an address. [1997, c. 155, Pt. B, §10 (NEW); 1997, c. 155, Pt. B, §13 (AFF).]

[ 1997, c. 155, Pt. B, §10 (NEW); 1997, c. 155, Pt. B, §13 (AFF) .]

2. Duty to correct and update information. A person who regularly and in the ordinary course of business furnishes information to one or more consumer reporting agencies about the person's transactions or experiences with any consumer and who has furnished to a consumer reporting agency information that the person determines is not complete or accurate has a duty to:

A. Promptly notify the consumer reporting agency of that determination and provide to the agency any corrections to that information, or any additional information, that is necessary to make the information provided by the person to the agency complete and accurate; and [1997, c. 155, Pt. B, §10 (NEW); 1997, c. 155, Pt. B, §13 (AFF).]

B. May not thereafter furnish to the agency any of the information that remains incomplete and inaccurate. [1997, c. 155, Pt. B, §10 (NEW); 1997, c. 155, Pt. B, §13 (AFF).]

[ 1997, c. 155, Pt. B, §10 (NEW); 1997, c. 155, Pt. B, §13 (AFF) .]

3. Duty to provide notice of dispute. If the completeness or accuracy of information furnished by a person to a consumer reporting agency is disputed to the person by a consumer, the person may not furnish the information to any consumer reporting agency without notice that the information is disputed by the consumer.

[ 1997, c. 155, Pt. B, §10 (NEW); 1997, c. 155, Pt. B, §13 (AFF) .]

4. Duty to provide notice of closed accounts. A person who regularly and in the ordinary course of business furnishes information to a consumer reporting agency regarding a consumer who has a credit account with that person shall notify the agency of the voluntary closure of the account by the consumer, in information regularly furnished for the period in which the account is closed.

[ 1997, c. 155, Pt. B, §10 (NEW); 1997, c. 155, Pt. B, §13 (AFF) .]

5. Duty to provide notice of delinquency of accounts. A person who furnishes information to a consumer reporting agency regarding a delinquent account being placed for collection, charged to profit or loss or subjected to any similar action shall, not later than 90 days after furnishing the information, notify the agency of the month and year of the commencement of the delinquency that immediately preceded the action.

[ 1997, c. 155, Pt. B, §10 (NEW); 1997, c. 155, Pt. B, §13 (AFF) .]

6. Duties of furnishers of information upon notice of dispute. After receiving notice of a dispute with regard to the completeness or accuracy of information provided by a person to a consumer reporting agency, the person shall:

A. Conduct an investigation with respect to the disputed information; and [1997, c. 155, Pt. B, §10 (NEW); 1997, c. 155, Pt. B, §13 (AFF).]

B. Review all relevant information provided by the consumer reporting agency. [1997, c. 155, Pt. B, §10 (NEW); 1997, c. 155, Pt. B, §13 (AFF).]

[ 1997, c. 155, Pt. B, §10 (NEW); 1997, c. 155, Pt. B, §13 (AFF) .]

7. Deadline. A person shall complete all investigations, reviews and reports required under subsection 6 regarding information provided by the person to a consumer reporting agency before the expiration of the period under section 1317 within which the consumer reporting agency is required to complete actions required by that section regarding that information.

[ 1997, c. 155, Pt. B, §10 (NEW); 1997, c. 155, Pt. B, §13 (AFF) .]

8. Limitation on liability. Sections 1322 and 1323 do not apply to any failure to comply with this section, except as provided in section 1328.

[ 1997, c. 155, Pt. B, §10 (NEW); 1997, c. 155, Pt. B, §13 (AFF) .]

9. Limitation on enforcement. This section must be enforced exclusively under section 1328 by the administrator.

[ 1997, c. 155, Pt. B, §10 (NEW); 1997, c. 155, Pt. B, §13 (AFF) .]

SECTION HISTORY

1997, c. 155, §B10 (NEW). 1997, c. 155, §B13 (AFF).