Indiana Code 24-5-24-8. Application treated as incomplete by third party; notification of security freeze
(1) a security freeze has been placed on the consumer’s consumer report;
Terms Used In Indiana Code 24-5-24-8
- consumer: means an individual:
Indiana Code 24-5-24-1
- consumer report: means any written, oral, or other communication of any information that:
Indiana Code 24-5-24-2
- consumer reporting agency: means any person that, for monetary fees or dues, or on a cooperative nonprofit basis, regularly engages in whole or in part in the practice of assembling or evaluating information concerning a consumer's credit or other information for the purpose of furnishing a consumer report to another person. See Indiana Code 24-5-24-3
- Credit Score: A number, roughly between 300 and 800, that measures an individual's credit worthiness. The most well-known type of credit score is the FICO score. This score represents the answer from a mathematical formula that assigns numerical values to various pieces of information in your credit report. Source: OCC
- security freeze: means a designation placed on a consumer's consumer report:
Indiana Code 24-5-24-4
(3) the consumer reporting agency refuses to release the consumer report to the third party based on subdivisions (1) and (2).
(b) A consumer reporting agency that refuses under subsection (a)(3) to release a consumer report shall notify the third party requesting the consumer report of the existence of a security freeze as the basis for the refusal to release the consumer report to the third party.
(c) A consumer reporting agency shall not:
(1) state; or
(2) otherwise imply;
to a third party that the consumer’s security freeze under this chapter reflects a negative credit score, history, report, or rating.
As added by P.L.104-2007, SEC.1.