Page:United States Statutes at Large Volume 117.djvu/1986

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[117 STAT. 1967]
[117 STAT. 1967]
PUBLIC LAW 107-000—MMMM. DD, 2003

PUBLIC LAW 108–159—DEC. 4, 2003

117 STAT. 1967

from identity theft, to prevent that person from refurnishing such blocked information. ‘‘(B) INFORMATION ALLEGED TO RESULT FROM IDENTITY THEFT.—If a consumer submits an identity theft report to a person who furnishes information to a consumer reporting agency at the address specified by that person for receiving such reports stating that information maintained by such person that purports to relate to the consumer resulted from identity theft, the person may not furnish such information that purports to relate to the consumer to any consumer reporting agency, unless the person subsequently knows or is informed by the consumer that the information is correct.’’. (b) PROHIBITION ON SALE OR TRANSFER OF DEBT CAUSED BY IDENTITY THEFT.—Section 615 of the Fair Credit Reporting Act (15 U.S.C. 1681m), as amended by this Act, is amended by adding at the end the following: ‘‘(f) PROHIBITION ON SALE OR TRANSFER OF DEBT CAUSED BY IDENTITY THEFT.— ‘‘(1) IN GENERAL.—No person shall sell, transfer for consideration, or place for collection a debt that such person has been notified under section 605B has resulted from identity theft. ‘‘(2) APPLICABILITY.—The prohibitions of this subsection shall apply to all persons collecting a debt described in paragraph (1) after the date of a notification under paragraph (1). ‘‘(3) RULE OF CONSTRUCTION.—Nothing in this subsection shall be construed to prohibit— ‘‘(A) the repurchase of a debt in any case in which the assignee of the debt requires such repurchase because the debt has resulted from identity theft; ‘‘(B) the securitization of a debt or the pledging of a portfolio of debt as collateral in connection with a borrowing; or ‘‘(C) the transfer of debt as a result of a merger, acquisition, purchase and assumption transaction, or transfer of substantially all of the assets of an entity.’’. SEC. 155. NOTICE BY DEBT COLLECTORS WITH RESPECT TO FRAUDULENT INFORMATION.

Section 615 of the Fair Credit Reporting Act (15 U.S.C. 1681m), as amended by this Act, is amended by adding at the end the following: ‘‘(g) DEBT COLLECTOR COMMUNICATIONS CONCERNING IDENTITY THEFT.—If a person acting as a debt collector (as that term is defined in title VIII) on behalf of a third party that is a creditor or other user of a consumer report is notified that any information relating to a debt that the person is attempting to collect may be fraudulent or may be the result of identity theft, that person shall— ‘‘(1) notify the third party that the information may be fraudulent or may be the result of identity theft; and ‘‘(2) upon request of the consumer to whom the debt purportedly relates, provide to the consumer all information

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