S.B. No. 584 amends the Business & Commerce Code by adding a new subsection (c-1) to Section 20.05, which outlines the responsibilities of consumer reporting agencies. The new provision mandates that any consumer reporting agency that prepares a consumer report using information from another consumer reporting agency or a third party must ensure that the information is compiled and furnished in compliance with the relevant consumer reporting laws.

The changes introduced by this bill will only apply to consumer reports that are furnished on or after the effective date of the Act, which is set for September 1, 2025. This legislation aims to enhance the accountability of consumer reporting agencies in their reporting practices, thereby promoting greater consumer protection.

Statutes affected:
Introduced: Commerce Code 20.05 (Commerce Code 20)
Senate Committee Report: Commerce Code 20.05 (Commerce Code 20)
Engrossed: Commerce Code 20.05 (Commerce Code 20)
House Committee Report: Commerce Code 20.05 (Commerce Code 20)