NJ A3457

Nationwide consumer reporting agencies must annually report to the Division of Consumer Affairs by March 1st the number of free consumer reports furnished to New Jersey residents in the preceding calendar year

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

"Nationwide reporting agency" is defined as a consumer reporting agency that maintains public record information and credit account information on consumers residing nationwide for purposes of furnishing credit reports to third parties

Non-compliance with the annual reporting requirement carries a penalty of $10,000

The bill supplements existing consumer report law (P.L.1997, c.172) and takes effect immediately upon enactment