Goto Section: 1.1917 | 1.1919 | Table of Contents
FCC 1.1918
Revised as of October 1, 2008
Goto Year:2007 |
2009
Sec. 1.1918 Use of consumer reporting agencies.
(a) The term individual means a natural person, and the term consumer
reporting agency has the meaning provided in the Federal Claims Collection
Act, as amended, 31 U.S.C. 3701(a)(3) or the Fair Credit Reporting Act, 15
U.S.C. 168a(f).
(b) The Commission may disclose to a consumer reporting agency, or provide
information to the Treasury who may disclose to a consumer reporting agency
from a system of records, information that an individual is responsible for
a claim. System information includes, for example, name, taxpayer
identification number, business and home address, business and home
telephone numbers, the amount of the debt, the amount of unpaid principle,
the late period, and the payment history. Before the Commission reports the
information, it will:
(1) Provide notice required by section 5 U.S.C. 552a(e)(4) that information
in the system may be disclosed to a consumer reporting agency;
(2) Review the claim to determine that it is valid and overdue;
(3) Make reasonable efforts using information provided by the debtor in
Commission files to notify the debtor, unless otherwise specified under the
terms of a contract or agreement—
(i) That payment of the claim is overdue;
(ii) That, within not less than 60 days from the date of the notice, the
Commission intends to disclose to a consumer reporting agency that the
individual is responsible for that claim;
(iii) That information in the system of records may be disclosed to the
consumer reporting agency; and
(iv) That unless otherwise specified and agreed to in an agreement,
contract, or by the terms of a note and/or security agreement, or that the
debt arises from the nonpayment of a Commission fee, penalty, or other
statutory or regulatory obligations, the individual will be provided with an
explanation of the claim, and, as appropriate, procedures to dispute
information in the records of the agency about the claim, and to
administrative appeal or review of the claim; and
(4) Review Commission records to determine that the individual has not—
(i) Repaid or agreed to repay the claim under a written repayment plan
agreed to and signed by both the individual and the Commission's
representative; or, if eligible; and
(ii) Filed for review of the claim under paragraph (g) of this section;
(c) The Commission shall: (1) Disclose to each consumer reporting agency to
which the original disclosure was made a substantial change in the condition
or amount of the claim;
(2) Verify or correct promptly information about the claim, on request of a
consumer reporting agency for verification of any or all information so
disclosed; and
(3) Obtain assurances from each consumer reporting agency that they are
complying with all laws of the United States relating to providing consumer
credit information.
(d) The Commission shall ensure that information disclosed to the consumer
reporting agency is limited to—
(1) Information necessary to establish the identity of the individual,
including name, address, and taxpayer identification number;
(2) The amount, status, and history of the claim; and
(3) The agency or program under which the claim arose.
(e) All accounts in excess of $100 that have been delinquent more than 31
days will normally be referred to a consumer reporting agency.
(f) Under the same provisions as described in paragraph (b) of this section,
the Commission may disclose to a credit reporting agency, information
relating to a debtor other than a natural person. Such commercial debt
accounts are not covered by the Privacy Act. Moreover, commercial debt
accounts are subject to the Commission's rules concerning debt obligation,
including part 1 rules related to auction debt, and the agreements of the
parties.
Goto Section: 1.1917 | 1.1919
Goto Year: 2007 |
2009
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