Bill Text: AZ HB2273 | 2010 | Forty-ninth Legislature 2nd Regular | Introduced

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Bill Title: Consumer reporting agencies; information sales

Spectrum: Partisan Bill (Democrat 10-0)

Status: (Introduced - Dead) 2010-01-25 - Referred to House BI Committee [HB2273 Detail]

Download: Arizona-2010-HB2273-Introduced.html

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REFERENCE TITLE: consumer reporting agencies; information sales

 

 

 

State of Arizona

House of Representatives

Forty-ninth Legislature

Second Regular Session

2010

 

 

HB 2273

 

Introduced by

Representatives Ableser, Campbell CH, Chabin, Garcia M, Sinema: Fleming, Lopes, Pancrazi, Young Wright

 

 

AN ACT

 

amending title 44, chapter 11, article 6, Arizona Revised Statutes, by adding section 44-1699; relating to consumer reporting agencies.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it enacted by the Legislature of the State of Arizona:

Section 1.  Title 44, chapter 11, article 6, Arizona Revised Statutes, is amended by adding section 44-1699, to read:

START_STATUTE44-1699.  Sale of information prohibited; exceptions

A.  A business entity, including A consumer reporting agency, shall not sell to or exchange with a third party the existence of a credit inquiry arising from a consumer mortgage loan application if the sale or exchange is triggered by an inquiry made in response to an application for credit.

B.  This section does not apply:

1.  If the third party holds an existing mortgage loan on the property.

2.  To information provided by a mortgage originator or servicer to a third party providing services in connection with any of the following:

(a)  The mortgage loan origination or servicing.

(b)  A proposed or actual securitization.

(c)  A secondary market sale, including sales of servicing rights.

(d)  Transactions that are similar to those described in subdivisions (a), (b) and (c) and that are related to the consumer mortgage loan. END_STATUTE