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Can you summarize WVCO Chapter 46A, Article 6L?
WEST VIRGINIA CONSUMER CREDIT AND PROTECTION ACT. > THEFT OF CONSUMER IDENTITY PROTECTIONS.
Short Summary
This legal document governs the process of placing a security freeze on a consumer’s credit report. It applies to consumer-reporting agencies and consumers. Consumer-reporting agencies are required to allow consumers to place a security freeze on their credit report either through a written request or a secure electronic method. The agency must place the security freeze within five business days of receiving the request. The consumer-reporting agency must provide a written confirmation of the security freeze to the consumer and a unique personal identification number or password for authorizing the distribution of credit information. If the consumer wants to temporarily lift the freeze, they can request it by providing proper identification, the unique personal identification number or password, and the desired time period. The agency must comply with the request within three business days. The security freeze remains in place until the consumer requests its removal. Certain entities, such as those reviewing accounts, investigating fraud, collecting taxes, prescreening, credit file monitoring, providing a copy of credit report, and insurance purposes, are exempt from the security freeze requirement. A reasonable fee, not exceeding $5, may be charged for placing, removing, or temporarily lifting a security freeze, except for victims of identity theft who provide appropriate documentation.
Whom does it apply to?
Consumer-reporting agencies and consumers
What does it govern?
The process of placing a security freeze on a consumer's credit report
What are exemptions?
Entities reviewing accounts, investigating fraud, collecting taxes, prescreening, credit file monitoring, providing a copy of credit report, and insurance purposes
What are the Penalties?
For negligent violations: notification, ability to file a complaint, and the right to file a civil action seeking injunctive relief, actual damages, and reasonable expenses. For willful violations: similar rights with higher potential damages.
Jurisdiction
West Virginia