H 4457 Session 109 (1991-1992)
H 4457 General Bill, By J.L.M. Cromer, D.W. Beatty, A.W. Byrd, Cobb-Hunter,
D.N. Holt, Inabinett, H.H. Keyserling, Lanford, S.G. Manly, A.C. McGinnis,
Neilson, Scott, R. Smith, C.H. Stone, C.Y. Waites and C.C. Wells
A Bill to amend Chapter 1, Title 37, Code of Laws of South Carolina, 1976,
relating to general provisions and definitions in the Consumer Protection
Code, by adding Section 37-1-401 so as to require a consumer credit reporting
agency to accurately report information, verify and update consumer credit
information within thirty days before releasing the information, and reflect
satisfaction of a judgment or a judgment lien against a consumer's realty
within thirty days of the satisfaction, and to provide civil liability for
noncompliance.
02/26/92 House Introduced and read first time HJ-19
02/26/92 House Referred to Committee on Judiciary HJ-19
04/14/92 House Tabled in committee
A BILL
TO AMEND CHAPTER 1, TITLE 37, CODE OF LAWS OF SOUTH
CAROLINA, 1976, RELATING TO GENERAL PROVISIONS AND
DEFINITIONS IN THE CONSUMER PROTECTION CODE, BY
ADDING SECTION 37-1-401 SO AS TO REQUIRE A CONSUMER
CREDIT REPORTING AGENCY TO ACCURATELY REPORT
INFORMATION, VERIFY AND UPDATE CONSUMER CREDIT
INFORMATION WITHIN THIRTY DAYS BEFORE RELEASING
THE INFORMATION, AND REFLECT SATISFACTION OF A
JUDGMENT OR A JUDGMENT LIEN AGAINST A CONSUMER'S
REALTY WITHIN THIRTY DAYS OF THE SATISFACTION, AND
TO PROVIDE CIVIL LIABILITY FOR NONCOMPLIANCE.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Chapter 1, Title 37 of the 1976 Code is amended by
adding:
"Part 4
Consumer Credit Reporting Agencies
Section 37-1-401. (A) A consumer credit reporting agency
which gathers, compiles, and disseminates information on consumers in
accordance with the Federal Consumer Credit Protection Act must be
diligent in accurately reporting this information and within thirty days
before its release must verify and update all information contained in the
report. Whenever a judgment or judgment lien placed against realty of
a consumer is paid and satisfied in full, the consumer credit reporting
agency shall, in its records, files, or information on that consumer,
reflect the satisfaction of the judgment or judgment lien within thirty
days of the satisfaction.
(B) A consumer credit reporting agency which fails to comply
with this section is liable to the consumer for actual damages, attorney's
fees, and court costs."
SECTION 2. This act takes effect upon approval by the Governor.
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