Current Status Bill Number:3032 Type of Legislation:General Bill GB Introducing Body:House Introduced Date:19950110 Primary Sponsor:L. Whipper All Sponsors:L. Whipper, Haskins, Cromer, Knotts, S. Whipper, Moody-Lawrence, Lloyd, Clyburn, Richardson Drafted Document Number:JIC\5134AC.95 Residing Body:House Current Committee:Labor, Commerce and Industry Committee 26 HLCI Subject:Consumer credit reporting agencies
Body Date Action Description Com Leg Involved
______ ________ _______________________________________ _______ ____________
House 19950110 Introduced, read first time, 26 HLCI
referred to Committee
House 19941214 Prefiled, referred to Committee 26 HLCI
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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:
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.