An Act To Allow Consumers To Shop for Credit without Damaging Their Credit Scores
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 10 MRSA §1310-H, sub-§3, as enacted by PL 2013, c. 228, §1, is amended to read:
3. Nonliability. A person may not be held liable for any violation of this section if the person shows by a preponderance of the evidence that at the time of the alleged violation the person maintained reasonable procedures to ensure compliance with the provisions of subsections 1 and , 2 and 4.
Sec. 2. 10 MRSA §1310-H, sub-§4 is enacted to read:
4. Consideration of credit inquiries. Notwithstanding any provision of federal law, a consumer reporting agency may not consider the number of credit inquiries made by a consumer or on behalf of a consumer as a factor in the calculation of a consumer's credit score.
summary
This bill prohibits a consumer reporting agency from considering the number of credit inquiries made by a consumer or on behalf of a consumer as a factor in the calculation of a consumer's credit score.