New Mexico Statutes 56-3-7. Civil liability for noncompliance
A. Any credit bureau or user of information that willfully fails to comply with any requirement of Sections 56-3-1 through 56-3-6 N.M. Stat. Ann. with respect to any consumer is liable to that consumer in an amount equal to:
Terms Used In New Mexico Statutes 56-3-7
- Credit bureau: An agency that collects individual credit information and sells it for a fee to creditors so they can make a decision on granting loans. Typical clients include banks, mortgage lenders, credit card companies, and other financing companies. (Also commonly referred to as consumer-reporting agency or credit-reporting agency.) Source: OCC
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
(1) any actual damages sustained by the consumer as a result of the failure; (2) punitive damages as the court may allow; and
(3) in the case of any successful action under this section, costs of the action and reasonable attorney’s fees as determined by the court.
B. Any credit bureau or user of information that is negligent in failing to comply with any requirement of Sections 56-3-1 through 56-3-6 N.M. Stat. Ann. with respect to any consumer is liable to that consumer in an amount equal to:
and (1) any actual damages sustained by the consumer as a result of the failure;
(2) in the case of any successful action under this section, costs of the action and reasonable attorney’s fees as determined by the court.