Arkansas Credit Reporting Disclosures
Title 4 Business and Commercial Law
Subtitle 7 Consumer Protection
Chapter 93 Credit Reporting Disclosures
This chapter may be known and cited as the "Credit Reporting Disclosure Act of 1989".
As used in this chapter, the terms "consumer", "consumer report", "consumer reporting agency", and "person" have the same meaning as used in the federal Fair Credit Reporting Act, 15 U.S.C. § 1681, 84 Stat. 1128.
Whenever credit, the further extension of existing credit, or the increase in limits of existing credit for personal, family, or household purposes is denied either wholly or partly because of information contained in a consumer report from a consumer reporting agency, the user of the consumer report shall so advise the consumer against whom such adverse action has been taken.
(a) The notification of adverse action shall be in writing and shall contain:
(1) A statement of the action taken;
(2) The name and address of the creditor;
(3) The name and address of the consumer reporting agency making the report; and
(4) The social security number of the consumer, provided that the social security number has been given to the user of the consumer report by the consumer or is contained in the consumer report received from the consumer reporting agency.
(b) Any person who fails to provide the notification required by this chapter shall be liable to the injured party for actual damages.
AR Arkansas Official State Statutes
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