Bill Summaries: S357 (2015-2016 Session)

  • Summary date: Mar 23 2015 - View summary

    Enacts new GS 75-57 in Article 2, "Prohibited Acts by Debt Collectors," of GS Chapter 75 (Monopolies, Trusts, and Consumer Protections) as the title indicates. Imposes a duty on debt collectors to (1) verify the accuracy of and (2) correct inaccurate information in any report by the debt collector to a credit reporting agency upon a consumer's notification that the information is incorrect.Makes failing to comply with this section within 60 days of receiving written notification of the inaccurate information from the consumer an unfair and deceptive trade practice under GS 75-1.1.

    Enacts new GS 58-70-170 and creates new Part 6, "Miscellaneous Provisions," to add the identical provision as it concerns collection agencies to Article 70, "Collection Agencies," of GS Chapter 58 (Insurance).

    Effective October 1, 2015.