Adopted

AMENDMENT NO 1 PROPOSED TO

House Bill No.  934

BY: Representative Yancey

AMEND by deleting lines 10 through 17 in their entirety, and inserting the following language in lieu thereof:

     "SECTION 1.  (1)  As used in this act, the following terms have the meanings as defined in this section, unless the context clearly indicates otherwise:

          (a)  "Insured credit union" has the meaning given in Section 101 of the Federal Credit Union Act (12 USC 1752).

          (b)  "Insured depository institution" has the meaning given in Section 3 of the Federal Deposit Insurance Act (12 USC 1813(c)).

          (c)  "Residential mortgage loan" has the meaning given in Section 1503 of the S.A.F.E. Mortgage Licensing Act of 2008 (12 USC 5102).

          (d)  "Servicer" has the meaning given in Section 6(i) of the Real Estate Settlement Procedures Act of 1974 (12 USC 2605(i)).

     (2)  If a person requests a consumer report from a consumer reporting agency in connection with a credit transaction involving a residential mortgage loan, that agency may not, solely on the basis of that request, furnish that consumer report to another person unless that other person:

          (a)  Has submitted documentation to that agency certifying that such other person has the authorization of the consumer to whom the consumer report relates; or

          (b)  (i)  Has originated the current residential mortgage loan of the consumer;

              (ii)  Is the servicer of the current residential mortgage loan of the consumer; or

              (iii)  1.  Is an insured depository institution or insured credit union; and

                   2.  Holds a current account for the consumer to whom the consumer report relates."

AMEND further the title to conform.