This bill amends the Code of West Virginia to enhance consumer protections regarding credit services organizations. Specifically, it introduces a new provision that prohibits these organizations from selling consumer information to third-party financing entities or providing consumer reports related to credit transactions that are not initiated by the consumer, particularly when such reports are based on inquiries linked to residential mortgage loans.

In addition to this new prohibition, the bill retains existing regulations that prevent credit services organizations from charging fees before completing agreed-upon services, making misleading representations, engaging in unfair practices, and providing false information about a buyer's creditworthiness. The overall aim of the bill is to safeguard consumer information and ensure transparency in the operations of credit service organizations.

Statutes affected:
Introduced Version: 46A-6C-3