Bill 141 — Third Session, 16Th Legislature, 19 Elizabeth Ii the Legislative Asse~ Uf Alberta Bill 141 An Act Respecting Consumer Credit Disclosure (Legislature 16, Session 3)

L16 S3 4833

Alberta — Bills

1970 Bill 141 Third Session, 16th Legislature, 19 Elizabeth II THE LEGISLATIVE ASSE~ UF ALBERTA BILL 141

An Act respecting Consumer Credit Disclosure MR. WERRY First Reading ............................. . Second Reading ........................... . Third Reading ............................. - Printed by L. S. Wall, Queen's Printer, Edmonton

BILL 141 1970

An Act respecting Consumer Credit Disclosure (Assented to , 1970) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts as follows: 1. This Act may be cited as The Consumer Credit Dis closure A ct. 2.

In this Act, (a) "firm" means a proprietor, partnership, corpora tion, trust, estate, co-operative, association, gov ernment or governmental subdivision or agency, or other entity; (b) "consumer" means an individual; (c) "consumer report" means any written, oral or other communication of any information by a consumer reporting agency bearing on a consumer's credit worthiness, credit standing, credit capacity, char acter, general reputation, personal interviews with neighbours, friends or associates of the consumer reported on or with others with whom he is acquainted or who may have knowledge concern ing any such items or information; (d) "consumer-reporting agency" means any person who assembles or evaluates information for the purpose of furnishing consumer reports to third parties; (e) "file" when used in connection with information on any consumer, means all of the information on that consumer recorded and retained by a con sumer-reporting agency, regardless of how the information is stored. 3.

Every consumer-reporting agency shall, upon request and proper identification of any consumer, and without charge, clearly and accurately disclose to the consumer: (1) the nature and substance of all information in its file on the consumer at the time of request;

Explanatory Notes I.

Short title. 2.

Interpretation. 3. Provides for the right of a consumer to have access to a file containing information on himself in the files of a consumer re porting agency.

(2) the sources of the information; (3) the recipients of any consumer reports on the con sumer which it has furnished within the six month period preceding the request. 4. Every consumer who is rejected following an applica tion for credit, insurance or employment by reason of a consumer report shall be informed by the person to whom the application was made to the name and address of the consumer-reporting agency. 5. Where the consumer establishes that information con tained in his file held by a consumer-reporting agency is inaccurate, the information shall be corrected. 6.

If the completeness or accuracy of any item of in formation contained in his file is disputed by a consumer, and such dispute is directly conveyed to the consumer reporting agency shall within a reasonable period of time re-investigate and record the current status of that in formation unless it has reasonable grounds to believe that the dispute by the consumer is frivolous or irrelevant. If after such re-investigation such information is found to be inaccurate or cannot be verified, the consumer-report ing agency shall promptly delete such information. 7.

If the re-investigation does not resolve the dispute, the consumer may file a brief statement setting forth the nature of the dispute. 8. Whenever a statement of a dispute is filed, unless there are reasonable grounds to believe that it is frivolous or irrelevant, the consumer-reporting agency shall, in any subsequent consumer report containing the information in question, clearly note that it is disputed by the consumer and provide either the consumer's statement or a clear and accurate codification or

summary thereof. 9. No application for credit, employment, or insurance completed by a consumer may be used for any other pur pose, or transmitted to any other person or to a credit reporting agency without the prior written permission of the consumer. 10. Information supplied by a consumer-reporting agency to a firm on a consumer shall be confidential and used only for legitimate business purposes of that firm. 2

4. Provides for the right of a consumer who is rejected for credit, insurance or employment because of a consumer report, to be informed of the name and address of the consumer-reporting agency. 5. Information contained in a file held by a consumer-reporting agency to be corrected when consumer establishes the information is inaccurate. 6. Incomplete and inaccurate information contained in a file held by a consumer-reporting agency to be re-investigated if disputed by a consumer. 7. Consumer may file a brief statement regarding disputed in formation in his file after re-investigation. 8. Consumer-reporting agency must note the item of dispute and include accurate

summary thereof. 9. Credit, employment or insurance application shall not be used for other person or credit-reporting agency. 10. Consumer credit report shall be kept confidential. 2

11. Adverse information regarding a consun1er held on file by a consumer-reporting agency shall be deleted after five years, or, in the case of bankruptcies, ten years. 1.2. Information held on file by a consumer-reporting agency shall be factual and, in the case of adverse informa tion obtained from newspapers, periodicals and personal interviews, must be verified before placing in a file. 13. A consumer-reporting agency shall maintain only one file on a consumer which file must contain all informa tion pertaining to the said person. 14. Any person who contravenes any of the sections of this Act is guilty of an offence and liable on

summary conviction (

a) for the first offence to a fine of not more than $100.00, and (

b) for any subsequent offence to a fine of not more than $1,000.00 or to imprisonment for a term of not more than one year, or to both the fine and imprisonment. 15. This Act comes into force on the day upon which it is assented to. 3

II. Information to be deleted after five years or in the case of bankruptcies, ten years. 12. Information held on file by a consumer-crediting agency shall be factual. 13. Maintenance of only one file on a person by a credit reporting agency. 14. Offences and penalties. 3 Title: 1970 (16th, 3rd) Bill 141,

An Act respecting Consumer Credit Disclosure

Document details

Collection	Alberta — Bills
Citation	L16 S3 4833
Type	bill
Volume / chapter	L16 S3 4833
Language	en
Format	json
Source	PROVINCIAL
Identifier	4b889357e3d7b76c2414ec7f353ca01341ff77f4

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