N.Y. General Business Law 380-K – Compliance procedures
§ 380-k. Compliance procedures. Every consumer or reporting agency shall maintain reasonable procedures designed to avoid violations of sections three hundred eighty-b, three hundred eighty-j and three hundred eighty-t of this article and to limit the furnishing of consumer reports to the purposes listed under said section three hundred eighty-b. These procedures shall require all prospective users of the information to identify themselves, certify the purposes for which the information is sought, and certify that the information will be used for no other purpose. Every consumer reporting agency shall make a reasonable effort to verify the identity of a new prospective user and the uses certified by such prospective user prior to furnishing such user a consumer report. No consumer reporting agency may furnish a consumer report to any person if it has reasonable grounds for believing that the consumer report will not be used for a purpose listed in section three hundred eighty-b of this article.
Terms Used In N.Y. General Business Law 380-K
- consumer: means an individual. See N.Y. General Business Law 380-A
- consumer report: means any written, oral, or other communication of any information by a consumer reporting agency bearing on a consumer's credit worthiness, credit standing, credit capacity, character, general reputation, personal characteristics, or mode of living which is used or expected to be used or collected in whole or part for the purpose of serving as a factor in establishing the consumer's eligibility for (i) credit or insurance to be used primarily for personal, family, or household purposes, (ii) employment purposes, or (iii) other purposes authorized under section three hundred eighty-b of this article. See N.Y. General Business Law 380-A
- consumer reporting agency: means any person who, for monetary fees, dues, or on a cooperative nonprofit basis, regularly engages in whole or in part in the practice of assembling or evaluating consumer credit information or other information on consumers for the purpose of furnishing consumer reports or investigative consumer reports to third parties. See N.Y. General Business Law 380-A
- person: means any individual, partnership, corporation, trust, estate, co-operative, association, government or governmental subdivision, agency or other entity. See N.Y. General Business Law 380-A