Texas Business and Commerce Code 20.03 – Disclosures to Consumers
(a) On request and proper identification provided by a consumer, a consumer reporting agency shall disclose to the consumer in writing all information pertaining to the consumer in the consumer reporting agency’s files at the time of the request, including:
(1) the name of each person requesting credit information about the consumer during the preceding six months and the date of each request;
(2) a set of instructions describing how information is presented on the consumer reporting agency’s written disclosure of the consumer file; and
(3) if the consumer reporting agency compiles and maintains files on a nationwide basis, a toll-free number at which personnel are available to consumers during normal business hours for use in resolving a dispute if the consumer submits a written dispute to the consumer reporting agency.
(b) The information must be disclosed in a clear, accurate manner that is understandable to a consumer.
Terms Used In Texas Business and Commerce Code 20.03
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- 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
- in writing: includes any representation of words, letters, or figures, whether by writing, printing, or other means. See Texas Government Code 312.011
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
(c) A consumer reporting agency shall provide a copy of the consumer’s file to the consumer on the request of the consumer and on evidence of proper identification, as directed by the Fair Credit Reporting Act (15 U.S.C. § 1681 et seq.), as amended, and regulations adopted under that Act.
(d) Any written disclosure to a consumer by a consumer reporting agency under this chapter must include a written statement that explains in clear and simple language the consumer’s rights under this chapter and includes:
(1) the process for receiving a consumer report or consumer file;
(2) the process for requesting or removing a security alert or freeze;
(3) the toll-free telephone number for requesting a security alert;
(4) applicable fees;
(5) dispute procedures;
(6) the process for correcting a consumer file or report; and
(7) information on a consumer’s right to bring an action in court or arbitrate a dispute.