
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 15USC1681c]

 
                      TITLE 15--COMMERCE AND TRADE
 
                 CHAPTER 41--CONSUMER CREDIT PROTECTION
 
                SUBCHAPTER III--CREDIT REPORTING AGENCIES
 
Sec. 1681c. Requirements relating to information contained in 
        consumer reports
        

(a) Information excluded from consumer reports

    Except as authorized under subsection (b) of this section, no 
consumer reporting agency may make any consumer report containing any of 
the following items of information:
    (1) cases \1\ under title 11 or under the Bankruptcy Act that, from 
the date of entry of the order for relief or the date of adjudication, 
as the case may be, antedate the report by more than 10 years.
---------------------------------------------------------------------------
    \1\ So in original. Probably should be capitalized.
---------------------------------------------------------------------------
    (2) Civil suits, civil judgments, and records of arrest that, from 
date of entry, antedate the report by more than seven years or until the 
governing statute of limitations has expired, whichever is the longer 
period.
    (3) Paid tax liens which, from date of payment, antedate the report 
by more than seven years.
    (4) Accounts placed for collection or charged to profit and loss 
which antedate the report by more than seven years.
    (5) Any other adverse item of information, other than records of 
convictions of crimes which antedates the report by more than seven 
years.

(b) Exempted cases

    The provisions of subsection (a) of this section are not applicable 
in the case of any consumer credit report to be used in connection 
with--
        (1) a credit transaction involving, or which may reasonably be 
    expected to involve, a principal amount of $150,000 or more;
        (2) the underwriting of life insurance involving, or which may 
    reasonably be expected to involve, a face amount of $150,000 or 
    more; or
        (3) the employment of any individual at an annual salary which 
    equals, or which may reasonably be expected to equal $75,000, or 
    more.

(c) Running of reporting period

                           (1) In general

        The 7-year period referred to in paragraphs (4) and (6) of 
    subsection (a) of this section shall begin, with respect to any 
    delinquent account that is placed for collection (internally or by 
    referral to a third party, whichever is earlier), charged to profit 
    and loss, or subjected to any similar action, upon the expiration of 
    the 180-day period beginning on the date of the commencement of the 
    delinquency which immediately preceded the collection activity, 
    charge to profit and loss, or similar action.

                         (2) Effective date

        Paragraph (1) shall apply only to items of information added to 
    the file of a consumer on or after the date that is 455 days after 
    September 30, 1996.

(d) Information required to be disclosed

    Any consumer reporting agency that furnishes a consumer report that 
contains information regarding any case involving the consumer that 
arises under title 11 shall include in the report an identification of 
the chapter of such title 11 under which such case arises if provided by 
the source of the information. If any case arising or filed under title 
11 is withdrawn by the consumer before a final judgment, the consumer 
reporting agency shall include in the report that such case or filing 
was withdrawn upon receipt of documentation certifying such withdrawal.

(e) Indication of closure of account by consumer

    If a consumer reporting agency is notified pursuant to section 
1681s-2(a)(4) of this title that a credit account of a consumer was 
voluntarily closed by the consumer, the agency shall indicate that fact 
in any consumer report that includes information related to the account.

(f) Indication of dispute by consumer

    If a consumer reporting agency is notified pursuant to section 
1681s-2(a)(3) of this title that information regarding a consumer who 
\2\ was furnished to the agency is disputed by the consumer, the agency 
shall indicate that fact in each consumer report that includes the 
disputed information.
---------------------------------------------------------------------------
    \2\ So in original. Probably should be ``which''.
---------------------------------------------------------------------------

(Pub. L. 90-321, title VI, Sec. 605, as added Pub. L. 91-508, title VI, 
Sec. 601, Oct. 26, 1970, 84 Stat. 1129; amended Pub. L. 95-598, title 
III, Sec. 312(b), Nov. 6, 1978, 92 Stat. 2676; Pub. L. 104-208, div. A, 
title II, Sec. 2406(a)-(e)(1), Sept. 30, 1996, 110 Stat. 3009-434, 3009-
435; Pub. L. 105-347, Sec. 5, Nov. 2, 1998, 112 Stat. 3211.)

                       References in Text

    The Bankruptcy Act, referred to in subsec. (a)(1), was act July 1, 
1898, ch. 541, 30 Stat. 544, as amended, which was classified to section 
1 et seq. of former Title 11, Bankruptcy, prior to its repeal by Pub. L. 
95-598, Nov. 6, 1978, 92 Stat. 2549, section 101 of which enacted 
revised Title 11.


                               Amendments

    1998--Subsec. (a)(2). Pub. L. 105-347, Sec. 5(1), which directed the 
amendment of par. (2) by substituting ``Civil suits, civil judgments, 
and records of arrest that'' for ``Suits and Judgments which'', was 
executed by making the substitution for ``Suits and judgments which'' to 
reflect the probable intent of Congress.
    Subsec. (a)(5), (6). Pub. L. 105-347, Sec. 5(2)-(4), redesignated 
par. (6) as (5), inserted ``, other than records of convictions of 
crimes'' after ``of information'', and struck out former par. (5) which 
read as follows: ``Records of arrest, indictment, or conviction of crime 
which, from date of disposition, release, or parole, antedate the report 
by more than seven years.''
    1996--Pub. L. 104-208, Sec. 2406(e)(1), amended section catchline.
    Subsec. (a). Pub. L. 104-208, Sec. 2406(a)(1), inserted heading.
    Subsec. (b). Pub. L. 104-208, Sec. 2406(a)(2), substituted 
``$150,000'' for ``$50,000'' in pars. (1) and (2) and ``$75,000'' for 
``$20,000'' in par. (3).
    Subsec. (c). Pub. L. 104-208, Sec. 2406(b), added subsec. (c).
    Subsec. (d). Pub. L. 104-208, Sec. 2406(c), added subsec. (d).
    Subsecs. (e), (f). Pub. L. 104-208, Sec. 2406(d), added subsecs. (e) 
and (f).
    1978--Subsec. (a)(1). Pub. L. 95-598 substituted ``cases under title 
11 or under the Bankruptcy Act that, from the date of entry of the order 
for relief or the date of adjudication, as the case may be, antedate the 
report by more than 10 years'' for ``Bankruptcies which, from date of 
adjudication of the most recent bankruptcy, antedate the report by more 
than fourteen years''.


                    Effective Date of 1998 Amendment

    Amendment by Pub. L. 105-347 deemed to have same effective date as 
amendments made by section 2403 of Pub. L. 104-208, see section 7 of 
Pub. L. 105-347, set out as a note under section 1681a of this title.


                    Effective Date of 1996 Amendment

    Amendment by Pub. L. 104-208 effective 365 days after Sept. 30, 
1996, with special rule for early compliance, see section 2420 of Pub. 
L. 104-208, set out as a note under section 1681a of this title.


                    Effective Date of 1978 Amendment

    Amendment by Pub. L. 95-598 effective Oct. 1, 1979, see section 
402(a) of Pub. L. 95-598, set out as an Effective Date note preceding 
section 101 of Title 11, Bankruptcy.

                  Section Referred to in Other Sections

    This section is referred to in sections 1681e, 1681g, 1681t of this 
title; title 20 sections 1080a, 1087cc.
