15 U.S.C. § 1681w — Disposal of records

submitted 23 years ago by Pub. L. 90-321 to r/title-15-COMMERCE-AND-TRADE · 261 words · no verdicts yet

in plain englishAI-generated · not legal advice

This section requires specified Federal regulators to issue rules requiring proper disposal of consumer information obtained from consumer reports for business purposes. The rules must be coordinated and may include exemptions.

(a) The Federal Trade Commission, Securities and Exchange Commission, Commodity Futures Trading Commission, Federal banking agencies, and National Credit Union Administration must issue final regulations, for entities within their enforcement authority, requiring anyone who keeps or possesses consumer information or a compilation derived from consumer reports for business purposes to dispose of it properly. The agencies must consult and coordinate so their rules are as consistent and comparable as possible, and must make them consistent with Public Law 106–102 and other Federal law. They may exempt a person or class when appropriate to carry out this section. (b) This section does not require anyone to keep or destroy a consumer record unless another law requires it, and does not change another law’s record-retention or destruction requirement.

the actual law source: uscode.house.gov ↗public domain

(a) Regulations

(1) In general

The Federal Trade Commission, the Securities and Exchange Commission, the Commodity Futures Trading Commission, the Federal banking agencies, and the National Credit Union Administration, with respect to the entities that are subject to their respective enforcement authority under section 1681s of this title, and in coordination as described in paragraph (2), shall issue final regulations requiring any person that maintains or otherwise possesses consumer information, or any compilation of consumer information, derived from consumer reports for a business purpose to properly dispose of any such information or compilation.

(2) Coordination

Each agency required to prescribe regulations under paragraph (1) shall—

(A)

consult and coordinate with each other such agency so that, to the extent possible, the regulations prescribed by each such agency are consistent and comparable with the regulations by each such other agency; and

(B)

ensure that such regulations are consistent with the requirements and regulations issued pursuant to Public Law 106–102 and other provisions of Federal law.

(3) Exemption authority

In issuing regulations under this section, the agencies identified in paragraph (1) may exempt any person or class of persons from application of those regulations, as such agency deems appropriate to carry out the purpose of this section.

(b) Rule of construction

Nothing in this section shall be construed—

(1)

to require a person to maintain or destroy any record pertaining to a consumer that is not imposed under other law; or

(2)

to alter or affect any requirement imposed under any other provision of law to maintain or destroy such a record.

Source credit: (Pub. L. 90–321, title VI, § 628, as added Pub. L. 108–159, title II, § 216(a), Dec. 4, 2003, 117 Stat. 1985; amended Pub. L. 111–203, title X, § 1088(a)(12), (13), July 21, 2010, 124 Stat. 2091, 2092.)

history & why it existsrecord from the source credit

2003Enacted · Pub. L. 90-321 · 117 Stat. 1985
2010Amended · Pub. L. 111-203 · 124 Stat. 2091, 2092

A history note hasn’t been published yet. The record shows enactment by Pub. L. 90-321 on 2003-12-04.

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