Maine Revised Statutes Title 10 Sec. 1307 – Statement of purpose
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1. Findings. The Legislature makes the following findings.
A. Creditors, insurers and prospective employers are dependent upon fair and accurate consumer reporting. Inaccurate consumer reports directly impair the efficiency of economic decisions, and unfair consumer reporting methods undermine the public confidence that is essential to our economic system. [PL 2013, c. 228, §1 (NEW).]
B. An elaborate mechanism has been developed for investigating and evaluating the creditworthiness, credit standing, credit capacity, character and general reputation of consumers. [PL 2013, c. 228, §1 (NEW).]
C. Consumer reporting agencies have assumed a vital role in assembling and evaluating consumer credit and other information on consumers. [PL 2013, c. 228, §1 (NEW).]
D. There is a need to ensure that consumer reporting agencies exercise their grave responsibilities with fairness, impartiality and a respect for the consumer’s right to privacy. [PL 2013, c. 228, §1 (NEW).]
[PL 2013, c. 228, §1 (NEW).]
Terms Used In Maine Revised Statutes Title 10 Sec. 1307
- Consumer: means an individual about whom a consumer report or an investigative consumer report has been prepared by a consumer reporting agency or an office of a consumer reporting agency. See Maine Revised Statutes Title 10 Sec. 1308
- Dependent: A person dependent for support upon another.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Fair Credit Reporting Act: A federal law, established in 1971 and revised in 1997, that gives consumers the right to see their credit records and correct any mistakes. Source: OCC
- United States: includes territories and the District of Columbia. See Maine Revised Statutes Title 1 Sec. 72
2. Purposes. The purposes of this chapter are to:
A. Require consumer reporting agencies to adopt reasonable procedures for meeting the needs of commerce for consumer credit, personnel, insurance and other information in a manner that is fair and equitable to the consumer, with regard for confidentiality, accuracy, relevancy and proper use of this information in accordance with the requirements of this chapter; and [PL 2013, c. 228, §1 (NEW).]
B. Supplement the provisions of the United States Fair Credit Reporting Act of the United States Consumer Credit Protection Act, 15 United States Code § 1681 et seq. [PL 2013, c. 228, §1 (NEW).]
[PL 2013, c. 228, §1 (NEW).]
SECTION HISTORY
PL 2013, c. 228, §1 (NEW).