15 U.S.C. § 1666a — Regulation of credit reports
submitted 52 years ago by Pub. L. 90-321 to r/title-15-COMMERCE-AND-TRADE · 291 words · no verdicts yet
After a billing-error notice, a creditor may not threaten adverse credit reporting or report the disputed amount as delinquent until it completes the required process and gives the obligor the allowed payment time. Further reporting must identify the dispute and notify the obligor of recipients.
(a) After notice under section 1666(a), a creditor* may not threaten adverse credit* reporting or report the disputed amount delinquent until complying with section 1666 and allowing the obligor the same payment period, at least 10 days, allowed for undisputed amounts.
(b) If the obligor timely says in writing that the amount remains disputed, the creditor may report delinquency only if it also reports the dispute and gives the obligor each recipient’s name and address.
(c) The creditor must report any later resolution to the parties that received the report.
After receiving a notice from an obligor as provided in section 1666(a) of this title, a creditor or his agent may not directly or indirectly threaten to report to any person* adversely on the obligor’s credit* rating or credit standing because of the obligor’s failure to pay the amount indicated by the obligor under section 1666(a)(2) of this title, and such amount may not be reported as delinquent to any third party until the creditor has met the requirements of section 1666 of this title and has allowed the obligor the same number of days (not less than ten) thereafter to make payment as is provided under the credit agreement with the obligor for the payment of undisputed amounts.
If a creditor receives a further written notice from an obligor that an amount is still in dispute within the time allowed for payment under subsection (a) of this section, a creditor may not report to any third party that the amount of the obligor is delinquent because the obligor has failed to pay an amount which he has indicated under section 1666(a)(2) of this title, unless the creditor also reports that the amount is in dispute and, at the same time, notifies the obligor of the name and address of each party to whom the creditor is reporting information concerning the delinquency.
A creditor shall report any subsequent resolution of any delinquencies reported pursuant to subsection (b) to the parties to whom such delinquencies were initially reported.
Source credit: (Pub. L. 90–321, title I, § 162, as added Pub. L. 93–495, title III, § 306, Oct. 28, 1974, 88 Stat. 1513.)
- 1974Enacted · Pub. L. 90-321 · 88 Stat. 1513
A history note hasn’t been published yet. The record shows enactment by Pub. L. 90-321 on 1974-10-28.
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