H 3032 Session 111 (1995-1996)
H 3032 General Bill, By L.S. Whipper, Clyburn, J.L.M. Cromer, Haskins, Knotts,
Lloyd, Moody-Lawrence, Richardson and Whipper
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 and to verify and update consumer
credit information within thirty days of releasing the information and to
provide civil liability for noncompliance.
12/14/94 House Prefiled
12/14/94 House Referred to Committee on Labor, Commerce and Industry
01/10/95 House Introduced and read first time HJ-15
01/10/95 House Referred to Committee on Labor, Commerce and
Industry HJ-15
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 AND TO VERIFY
AND UPDATE CONSUMER CREDIT INFORMATION WITHIN
THIRTY DAYS OF RELEASING THE INFORMATION 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 obtained from public records as defined in Section
30-4-20(c) in accordance with the Federal Consumer Credit
Protection Act must verify and update all such information
contained in the report before its release.
(B) A consumer credit reporting agency which inaccurately
reports information obtained from public records because of its
failure to verify and update the information before releasing a
report is liable to the consumer:
(1) in the case of wilful noncompliance, for actual and
punitive damages and attorney's fees;
(2) in the case of negligent noncompliance, for actual
damages and attorney's fees."
SECTION 2. This act takes effect upon approval by the
Governor.
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