CONSUMER DISCLOSURES.

SEC. 2408. CONSUMER DISCLOSURES. (a) All Information in Consumer’s File Required To Be Disclosed.— Section 609(a)(1) of the Fair Credit Reporting Act (15 U.S.C. 1681g(a)(1)) is amended to read as follows: “(1) All information in the consumer’s file at the time of the request, except that nothing in this paragraph shall be construed to require a consumer reporting agency to disclose to a consumer any information concerning credit scores or any other risk scores or predictors relating to the consumer.”. (b) More Information Concerning Recipients of Reports Required.— Section 609(a)(3) of the Fair Credit Reporting Act (15 U.S.C. 1681g(a)) is amended to read as follows: 110 STAT. 3009–437 “(3) (A) Identification of each person (including each end-user identified under section 607(e)(1)) that procured a consumer report— “(i) for employment purposes, during the 2-year period preceding the date on which the request is made; or “(ii) for any other purpose, during the 1-year period preceding the date on which the request is made. “(B) An identification of a person under subparagraph (A) shall include— “(i) the name of the person or, if applicable, the trade name (written in full) under which such person conducts business; and “(ii) upon request of the consumer, the address and telephone number of the person.”. (c) Information Regarding Inquiries.— Section 609(a) of the Fair Credit Reporting Act (15 U.S.C. 1681g(a)) is amended by adding at the end the following new paragraph: “(5) A record of all inquiries received by the agency during the 1-year period preceding the request that identified the consumer in connection with a credit or insurance transaction that was not initiated by the consumer.”. (d) Summary of Rights Required To Be Included With Disclosure.— (1) In general.— Section 609 of the Fair Credit Reporting Act (15 U.S.C. 1681g) is amended by adding at the end the following new subsection: “(c) Summary of Rights Required To Be Included With Disclosure.— “(1) Summary of rights.— A consumer reporting agency shall provide to a consumer, with each written disclosure by the agency to the consumer under this section— “(A) a written summary of all of the rights that the consumer has under this title; and “(B) in the case of a consumer reporting agency that compiles and maintains files on consumers on a nationwide basis, a toll-free telephone number established by the agency, at which personnel are accessible to consumers during normal business hours. “(2) Specific items required to be included.— The summary of rights required under paragraph (1) shall include— “(A) a brief description of this title and all rights of consumers under this title; “(B) an explanation of how the consumer may exercise the rights of the consumer under this title; “(C) a list of all Federal agencies responsible for enforcing any provision of this title and the address and any appropriate phone number of each such agency, in a form that will assist the consumer in selecting the appropriate agency; “(D) a statement that the consumer may have additional rights under State law and that the consumer may wish to contact a State or local consumer protection agency or a State attorney general to learn of those rights; and “(E) a statement that a consumer reporting agency is not required to remove accurate derogatory information from a consumer’s file, unless the information is outdated under section 605 or cannot be verified. 110 STAT. 3009–438 “(3) Form of summary of rights.— For purposes of this subsection and any disclosure by a consumer reporting agency required under this title with respect to consumers’ rights, the Federal Trade Commission (after consultation with each Federal agency referred to in section 621(b)) shall prescribe the form and content of any such disclosure of the rights of consumers required under this title. A consumer reporting agency shall be in compliance with this subsection if it provides disclosures under paragraph (1) that are substantially similar to the Federal Trade Commission prescription under this paragraph. “(4) Effectiveness.— No disclosures shall be required under this subsection until the date on which the Federal Trade Commission prescribes the form and content of such disclosures under paragraph (3).”. (2) Technical amendment.— Section 606(a)(1)(B) of the Fair Credit Reporting Act (15 U.S.C. 1681d(a)(1)(B)) is amended by inserting “and the written summary of the rights of the consumer prepared pursuant to section 609(c)” before the semi-colon. (e) Form of Disclosures.— (1) In general.— Subsections (a) and (b) of section 610 of the Fair Credit Reporting Act (15 U.S.C. 1681h) are amended to read as follows: “(a) In General.— “(1) Proper identification.— A consumer reporting agency shall require, as a condition of making the disclosures required under section 609, that the consumer furnish proper identification. “(2) Disclosure in writing.— Except as provided in subsection (b), the disclosures required to be made under section 609 shall be provided under that section in writing. “(b) Other Forms of Disclosure.— “(1) In general.— If authorized by a consumer, a consumer reporting agency may make the disclosures required under 609— “(A) other than in writing; and “(B) in such form as may be— “(i) specified by the consumer in accordance with paragraph (2); and “(ii) available from the agency. “(2) Form.— A consumer may specify pursuant to paragraph (1) that disclosures under section 609 shall be made— “(A) in person, upon the appearance of the consumer at the place of business of the consumer reporting agency where disclosures are regularly provided, during normal business hours, and on reasonable notice; “(B) by telephone, if the consumer has made a written request for disclosure by telephone; “(C) by electronic means, if available from the agency; or “(D) by any other reasonable means that is available from the agency.”. (2) Simplified disclosure.— Not later than 90 days after the date of enactment of this Act, each consumer reporting agency shall develop a form on which such consumer reporting agency shall make the disclosures required under section 609(a) 110 STAT. 3009–439of the Fair Credit Reporting Act, for the purpose of maximizing the comprehensibility and standardization of such disclosures. (3) Goals.— The Federal Trade Commission shall take appropriate action to assure that the goals of comprehensibility and standardization are achieved in accordance with paragraph (2). (4) Defamation.— Section 610(e) of the Fair Credit Reporting Act (15 U.S.C. 1681h(e)) is amended by inserting “or based on information disclosed by a user of a consumer report to or for a consumer against whom the user has taken adverse action, based in whole or in part on the report” before “except”. (5) Conforming amendments.— The Fair Credit Reporting Act (15 U.S.C. 1681 et seq.) is amended— (A) in section 609(a), in the matter preceding paragraph (1), by striking “and proper identification of any consumer” and inserting “, and subject to section 610(a)(1)”; (B) in section 610, in the section heading, by inserting “AND FORM” after “CONDITIONS”; and (C) in the table of sections at the beginning of that Act, in the item relating to section 610, by inserting “and form” after “conditions”.