NJ A2254

Nationwide consumer reporting agencies must submit annual reports to the Division of Consumer Affairs by March 1st detailing the number of free consumer reports provided to New Jersey residents in the preceding calendar year

Reports must specify how many New Jersey consumers received one free consumer report versus two free consumer reports during the year

The bill defines covered agencies as those that regularly compile and maintain public record information and credit account information on consumers nationwide for the purpose of furnishing credit reports to third parties

Reporting agencies that fail to submit the required annual report face a $10,000 penalty