SB240

Senate Bill 240 amends the Credit Reporting Disclosure Act of 1989 to modify the requirements for a notification of adverse action. Specifically, the bill mandates that such written notifications must include the consumer's Social Security number if that information was previously provided by the consumer to the user of the report or is present in the report received from the consumer reporting agency. The legislation aims to clarify the information that creditors must provide to consumers when an adverse action is taken based on a credit report. By standardizing this requirement, the bill seeks to ensure that consumers receive more detailed disclosures regarding the data used in credit-related decisions. The bill does not alter the fundamental process of credit reporting but updates the specific content mandated in existing legal notices.