Vermont Statutes Title 9 Sec. 2480j
Terms Used In Vermont Statutes Title 9 Sec. 2480j
- agency: means a person who, for fees, dues, or on a cooperative 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 credit report to another person. See
- Consumer: means a natural person other than a protected consumer. See
- Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. Source: OCC
- Credit report: means any written, oral, or other communication of any information by a credit reporting agency bearing on a consumer's credit worthiness, credit standing, credit capacity, character, general reputation, personal characteristics, or mode of living, including an investigative credit report. See
- following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
- Fraud: Intentional deception resulting in injury to another.
- Person: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
- Security freeze: means a notice placed in a credit report, at the request of the consumer, pursuant to section 2480h of this title. See
- services: shall include any objects, wares, goods, commodities, work, labor, intangibles, courses of instruction or training, securities, bonds, debentures, stocks, real estate, or other property or services of any kind. See
§ 2480j. Persons not required to place security freeze
The following persons are not required to place in a credit report a security freeze pursuant to section 2480h of this title; provided, however, that any person that is not required to place a security freeze on a credit report under the provisions of subdivision (3) of this section shall be subject to any security freeze placed on a credit report by another credit reporting agency from which it obtains information:
(1) A check services or fraud prevention services company, which reports on incidents of fraud or issues authorizations for the purpose of approving or processing negotiable instruments, electronic fund transfers, or similar methods of payment.
(2) A deposit account information service company, which issues reports regarding account closures due to fraud, substantial overdrafts, ATM abuse, or similar negative information regarding a consumer to inquiring banks or other financial institutions for use only in reviewing a consumer request for a deposit account at the inquiring bank or financial institution.
(3) A credit reporting agency that:
(A) acts only to resell credit information by assembling and merging information contained in a database of one or more credit reporting agencies; and
(B) does not maintain a permanent database of credit information from which new credit reports are produced. (Added 2003, No. 155 (Adj. Sess.), § 3, eff. July 1, 2005.)