To ensure proper disposal of consumer information and records derived from consumer reports.

1. Adds SEC. 216. DISPOSAL OF CONSUMER REPORT INFORMATION AND RECORDS at the end of title II

   Adds a section

   In S. 1753 · Placed on Calendar Senate

   (C) recommendations for legislative or administrative action that the Commission may determine to be necessary to ensure that credit and credit-based insurances score are used appropriately and fairly.

   Inserted: SEC. 216. DISPOSAL OF CONSUMER REPORT INFORMATION AND RECORDS.

   Inserted: (a) In General.--The Fair Credit Reporting Act (15 U.S.C. 1681m) is amended by adding at the end the following:

   Inserted: "Sec. 627. Disposal of records

   Inserted: "(a) Regulations.--

   Inserted: "(1) In general.--Not later than 1 year after the date of enactment of this section, the Federal Trade Commission shall issue final regulations requiring any person that maintains or otherwise possesses consumer information or any compilation of consumer information derived from consumer reports for a business purpose to properly dispose of any such information or compilation.

   Inserted: "(2) Exemption authority.--In issuing regulations under this section, the Federal Trade Commission may exempt any person or class of persons from application of those regulations, as the Commission deems appropriate to carry out the purpose of this section.

   Inserted: "(b) Rule of Construction.--Nothing in this section may be construed to alter or affect any requirement imposed under any other provision of law to maintain any record.".

   Inserted: (b) Clerical Amendment.--The table of sections for the Fair Credit Reporting Act (15 U.S.C. 1681 et seq.), as amended by this Act, is amended by adding at the end the following:

   Inserted: "627. Disposal of records.".

   Original wording

   At the end of title II, add the following:

Read automatically from the Congressional Record. Check the original before relying on it.

As printed