SENATE BILL REPORT

SB 6791

BYSenator Williams

Requiring specific identifying information for credit reports.

Senate Committee on Financial Institutions & Insurance

Senate Hearing Date(s):February 2, 1990

Majority Report:     Do pass.

     Signed by Senators von Reichbauer, Chairman; Johnson, Vice Chairman; Fleming, McMullen, Matson, Moore, Sellar, Smitherman.

Senate Staff:Gerard Poliquin (786-7403)

                February 10, 1990

AS PASSED SENATE, FEBRUARY 9, 1990

BACKGROUND:

There have been instances where consumers or businesses have been denied credit or experienced difficulties in obtaining credit due to inaccurate credit reports.  The inaccuracies in the credit reports have taken the form of other consumers or businesses credit problems being reported by credit service organizations on the wrong credit report.

SUMMARY:

It is an unfair act or practice for a credit service organization to neglect to use certain identifying information in a credit report. 

A credit services organization shall use, in addition to other identifying information, a buyer's social security number, federal taxpayer information, or other positive identification.

Appropriation:  none

Revenue:   none

Fiscal Note:    none requested

Senate Committee - Testified:   Senator Williams, prime sponsor (pro); Jerry Figloilo, Trans Union Corp.