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AR SB240

Bill

Official Source

Status

Passed

3/20/2025

Primary Sponsor

Ricky Hill

Click for details

Origin

Senate

95th General Assembly (2025 Regular)

AI Summary

  • Amends Arkansas Code § 4-93-104(a) under the Credit Reporting Disclosure Act of 1989 regarding adverse action notifications
  • Removes the previous requirement that creditors include the consumer's Social Security number in written adverse action notices
  • Adverse action notices must still contain: a statement of the action taken, the creditor's name and address, and the consumer reporting agency's name and address
  • Approved on March 20, 2025

Legislative Description

To Amend The Credit Reporting Disclosure Act Of 1989; And To Clarify The Content Required For A Notice Of Adverse Action.

Last Action

Notification that SB240 is now Act 343

3/20/2025

Committee Referrals

Insurance and Commerce2/24/2025
Insurance & Commerce2/17/2025

Full Bill Text

No bill text available