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Can you summarize NJST 56:11-51?
Denial, reduction of credit to victims of identity theft, certain, prohibited.
Short Summary
This legal document prohibits creditors from denying credit to, or reducing the credit limit of, individuals solely because they were victims of identity theft. The definition of ‘victim of identity theft’ includes individuals who present a copy of a police report or a properly completed affidavit of identity theft when applying for credit or increasing their credit limit. However, creditors still have the right to deny credit or reduce the credit limit of identity theft victims for other reasons authorized by law. The document does not specify any penalties for non-compliance or violation of its provisions.
Whom does it apply to?
Creditors
What does it govern?
Denial, reduction of credit to victims of identity theft
What are exemptions?
The right of a creditor to deny credit to, or reduce the credit limit of, a victim of identity theft for any other reason authorized by law
What are the Penalties?
No specific penalties mentioned
Jurisdiction
New Jersey