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TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 39-1-90 SO AS TO LIMIT INFORMATION THAT MAY BE INCLUDED IN A CONSUMER CREDIT REPORT OR CONSUMER CREDIT SCORE FURNISHED TO AN AUTHORIZED RECIPIENT IN THIS STATE.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Chapter 1, Title 39 of the 1976 Code is amended by adding:
"Section 39-1-90. (A) As used in this section:
(1) 'Consumer' means an individual person.
(2) 'Consumer credit report' means a written, oral, or other communication of any information produced by a consumer reporting agency that bears on a consumer's creditworthiness, credit standing, credit capacity, character, general reputation, personal characteristics, or mode of living that is used or collected to serve as a factor in establishing the consumer's credit score or eligibility for credit.
(3) 'Consumer credit score' or 'risk predictor' or 'risk score' means a numeric value or categorization derived from a statistical tool or modeling system used to predict the likelihood of a consumer's credit behavior, including default.
(4) 'Consumer credit reporting agency' means an organization that regularly engages in the practice of assembling or evaluating consumer credit information, creating consumer credit reports, or creating consumer credit scores for use by third parties.
(B) In addition to provisions of the Fair Credit Reporting Act, 15 USC Section 1681, et. seq., a consumer credit reporting agency shall not furnish for use of an authorized recipient in this State in connection with a credit, insurance or consumer transaction a consumer credit report or consumer credit score that contains or uses information which is not measurable, objective, and related to the consumer's credit or payment history, or personal information directly pertaining to his credit standing. For this purpose, personal information does not include information pertaining to a consumer's driving record or outstanding parking fines."
SECTION 2. This act takes effect upon approval by the Governor.
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