Kentucky Statutes 367.363 – Definitions for KRS 367.363 to 367.365
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As used in KRS § 367.363 to KRS § 367.365, unless the context requires otherwise:
(1) “Clear and proper identification” means information generally deemed sufficient to identify a person. If the consumer is unable to reasonably identify himself or herself with such information, a consumer reporting agency may require additional information to verify his or her identity;
(2) “Consumer report” means a consumer report, as defined in the federal Fair Credit
Reporting Act, 15 U.S.C. § 1681a(d);
(3) “Consumer reporting agency” means a consumer reporting agency as defined by the federal Fair Credit Reporting Act, 15 U.S.C. § 1681a(f). “Consumer reporting agency” shall not mean a check acceptance service which provides check approval and guarantees services to merchants; and
(4) “Security freeze” means a notice placed on a consumer file, at the request of the consumer and subject to certain exceptions, that prohibits a consumer reporting agency from releasing the consumer’s consumer report or credit score relating to the extension of credit without the express authorization of the consumer.
Effective: July 12, 2006
History: Created 2006 Ky. Acts ch. 42, sec. 1, effective July 12, 2006.
(1) “Clear and proper identification” means information generally deemed sufficient to identify a person. If the consumer is unable to reasonably identify himself or herself with such information, a consumer reporting agency may require additional information to verify his or her identity;
Terms Used In Kentucky Statutes 367.363
- 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
- Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. Source: OCC
- Federal: refers to the United States. See Kentucky Statutes 446.010
(2) “Consumer report” means a consumer report, as defined in the federal Fair Credit
Reporting Act, 15 U.S.C. § 1681a(d);
(3) “Consumer reporting agency” means a consumer reporting agency as defined by the federal Fair Credit Reporting Act, 15 U.S.C. § 1681a(f). “Consumer reporting agency” shall not mean a check acceptance service which provides check approval and guarantees services to merchants; and
(4) “Security freeze” means a notice placed on a consumer file, at the request of the consumer and subject to certain exceptions, that prohibits a consumer reporting agency from releasing the consumer’s consumer report or credit score relating to the extension of credit without the express authorization of the consumer.
Effective: July 12, 2006
History: Created 2006 Ky. Acts ch. 42, sec. 1, effective July 12, 2006.