An act TO AMEND THE CREDIT REPORTING DISCLOSURE ACT 10 OF 1989, the official text

Stricken language would be deleted from and underlined language would be added to present law.

1 State of Arkansas             A Bill

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3 Regular Session, 2025                                            SENATE BILL 240

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5 By: Senator Hill

6 By: Representative Beaty Jr.

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8                               For An Act To Be Entitled

9            AN ACT TO AMEND THE CREDIT REPORTING DISCLOSURE ACT

10           OF 1989; TO CLARIFY THE CONTENT REQUIRED FOR A NOTICE

11           OF ADVERSE ACTION; AND FOR OTHER PURPOSES.

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14                              Subtitle

15                       TO AMEND THE CREDIT REPORTING DISCLOSURE

16                       ACT OF 1989; AND TO CLARIFY THE CONTENT

17                       REQUIRED FOR A NOTICE OF ADVERSE ACTION.

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19 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS:

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21  SECTION 1. Arkansas Code � 4-93-104(a), concerning the contents of a

22 notification of adverse action under the Credit Reporting Disclosure Act of

23 1989, is amended to read as follows:

24  (a) The notification of adverse action shall be in writing and shall

25 contain:

26           (1) A statement of the action taken;

27           (2) The name and address of the creditor; and

28           (3) The name and address of the consumer reporting agency making

29 the report; and

30           (4) The Social Security number of the consumer, provided that

31 the Social Security number has been given to the user of the consumer report

32 by the consumer or is contained in the consumer report received from the

33 consumer reporting agency.

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    *ANS006*                                               02/17/2025 11:28:53 AM ANS006