(1) As used in this section:

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Terms Used In Utah Code 13-2-10

  • 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
  • Person: means :
         (24)(a) an individual;
         (24)(b) an association;
         (24)(c) an institution;
         (24)(d) a corporation;
         (24)(e) a company;
         (24)(f) a trust;
         (24)(g) a limited liability company;
         (24)(h) a partnership;
         (24)(i) a political subdivision;
         (24)(j) a government office, department, division, bureau, or other body of government; and
         (24)(k) any other organization or entity. See Utah Code 68-3-12.5
     (1)(a) “Division” means the Division of Consumer Protection.
     (1)(b) “Financial institution” means the same as that term is defined in Section 7-1-103.
     (1)(c) “Social credit score” means the same as that term is defined in Section 63G-29-101.
(2) The division shall:

     (2)(a) establish and operate a system to receive consumer reports regarding a financial institution’s or company’s use or creation of a social credit score; and
     (2)(b) before November 1 of each year, submit a written report to the Business and Labor Interim Committee that summarizes the reports received during the immediately preceding year that indicate a financial institution or company used a social credit score to discriminate against, advocate for, or cause adverse or preferential treatment of a person.
(3) The division may:

     (3)(a) make rules in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, to establish and operate the system described in Subsection (2); and
     (3)(b) as appropriate, refer a consumer who provides a report through the system described in Subsection (2) to the Department of Financial Institutions or another agency for investigation of the report or other action.
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