SENATE BILL 59

53rd legislature - STATE OF NEW MEXICO - second session, 2018

INTRODUCED BY

Cisco McSorley

AN ACT

RELATING TO CREDIT REPORTS; CHANGING THE DEFINITION OF "CONSUMER" TO SPECIFICALLY ALLOW PARENTS OR GUARDIANS TO REQUEST A SECURITY FREEZE OF A MINOR'S OR PROTECTED PERSON'S CREDIT REPORT.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:

     SECTION 1. Section 56-3A-2 NMSA 1978 (being Laws 2007, Chapter 106, Section 2, as amended) is amended to read:

     "56-3A-2. DEFINITIONS.--As used in the Fair Credit Reporting and Identity Security Act:

          A. "consumer" means an individual who is a resident of New Mexico, including:

                (1) the parent or guardian of a person who is a minor at the time a request for the placement of a security freeze is made;

                (2) an incapacitated person or a protected person for whom a guardian or conservator has been appointed; or

                (3) an individual who is under the jurisdiction of the children, youth and families department and is in foster care at the time a request for placement of a security freeze is made;

          B. "consumer reporting agency" means any person that, for monetary fees, dues or on a cooperative nonprofit basis, regularly engages in the practice of assembling or evaluating consumer credit information or other information on consumers for the purpose of furnishing credit reports to third parties;

          C. "credit report" means a written, oral or other communication of information by a consumer reporting agency bearing on a consumer's [credit worthiness] creditworthiness, credit standing, credit capacity, character, general reputation, personal characteristics or mode of living that is used or expected to be used or collected for the purpose of serving as a factor in establishing the consumer's eligibility for credit, insurance, investment, benefit, employment or other purpose as authorized by the federal Fair Credit Reporting Act, 15 U.S.C. Section 1681a;

          D. "declaration of removal" means an identity theft report with a sworn affidavit that is delivered by regular or certified mail or facsimile or delivered electronically to a consumer reporting agency that operates within New Mexico and which affidavit states:

                (1) that the consumer is entitled to removal of information in the consumer reporting agency's files on grounds that the consumer is the victim of identity theft; and

                (2) the address at which the consumer is available for service of process by the consumer reporting agency and proper identifying information by which the consumer can be identified by the consumer reporting agency;

          E. "person" means an individual, corporation, firm, association, organization, trust, estate, cooperative, business, partnership, limited liability company, joint venture, governmental agency or subdivision or any legal or commercial entity;

          F. "security freeze" means a notice placed in a consumer's credit report, at the request of the consumer and subject to certain exceptions, that prohibits a consumer reporting agency from releasing the consumer's credit report or score relating to the extension of credit or the opening of new accounts without the express authorization of the consumer; and

          G. "operates within New Mexico" means accepting or maintaining a credit report on a person that resides within New Mexico."

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