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09.03.07.00.htm 09.03.07.00. Title 09 DEPARTMENT OF LABOR, LICENSING, AND REGULATION Subtitle 03 COMMISSIONER OF FINANCIAL REGULATION Chapter 07 Credit Reporting Agencies Authority: Business Regulation Article, §2-105; Commercial Law Article, §14-1218(e) Annotated Code of Maryland
09.03.07.01.htm 09.03.07.01. 01 Scope.. This chapter governs certain registration requirements and business operations of consumer reporting agencies who collect credit information and furnish consumer reports on residents of this State. The provisions of this chapter are to promote accuracy in consumer reports.
09.03.07.02.htm 09.03.07.02. 02 Definitions.. A. In this chapter, the following terms have the meanings indicated.. B. Terms Defined.. 1) "Business customer" means a person who supplies to a consumer reporting agency information for inclusion in a consumer report.2) "Collection agency" has the meaning stated in Business Regulation Article, §7-101(c) Annotated Code of Maryland.3) "Commissioner" has the meaning stated in Commercial Law Article, §14-1201(j) Annotated Code of Maryland.4) "Consumer" has the mea
09.03.07.03.htm 09.03.07.03. 03 Annual Registration.. A. This regulation does not require a consumer reporting agency to register each year information previously registered that remains unchanged.B. A consumer reporting agency which issues consumer reports on residents of this State shall register with the Commissioner:1) On or before the effective date of these regulations; and. 2) On or before January 1 of each year after the effective date of these regulations.. C. To register under this
09.03.07.04.htm 09.03.07.04. 04 Operational Procedures.. A. A consumer reporting agency shall devise procedures to identify inaccurate information in consumer credit information submitted to it by its business customers.B. As a part of the procedures required in §A of this regulation, a consumer reporting agency shall:. 1) Inform business customers of the inaccuracies discovered in information which they supplied; and. 2) Take appropriate steps to work with its business customers to correct er
09.03.07.9999.htm 09.03.07.9999. Administrative History Effective date: June 6, 1994 (21:11 Md. R. 950). Chapter recodified from COMAR 09.04.07 to COMAR 09.03.07, April, 1998.
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