Indiana Code 24-5-24-11. “Energy utility”; “specialized credit reporting tool”; persons excluded from security freeze requirements
(b) As used in this section, “specialized credit reporting tool” means a scoring model that:
Terms Used In Indiana Code 24-5-24-11
- consumer: means an individual:
Indiana Code 24-5-24-1
- consumer report: means any written, oral, or other communication of any information that:
Indiana Code 24-5-24-2
- consumer reporting agency: means any person that, for monetary fees or dues, or on a cooperative nonprofit 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 consumer report to another person. See Indiana Code 24-5-24-3
- Fraud: Intentional deception resulting in injury to another.
- security freeze: means a designation placed on a consumer's consumer report:
Indiana Code 24-5-24-4
(2) is used by the energy utility to validate a consumer‘s identity and creditworthiness.
(c) The following persons are not required to place a security freeze on a consumer’s consumer report:
(1) A consumer reporting agency that acts only as a reseller (as defined in 15 U.S.C. § 1681a(u)) of information. However, a consumer reporting agency must honor any security freeze placed on a consumer’s consumer report by another consumer reporting agency.
(2) A:
(A) check services; or
(B) fraud prevention services;
company that 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.
(3) A deposit account information service company that issues reports concerning account closures due to:
(A) fraud;
(B) substantial overdrafts;
(C) ATM abuse; or
(D) similar negative information concerning a consumer;
to inquiring financial institutions for use only in reviewing a consumer’s request for a deposit account at the inquiring financial institution.
(4) A consumer reporting agency that furnishes specialized credit reporting tools to an energy utility.
As added by P.L.104-2007, SEC.1.