This bill amends the Code of West Virginia to enhance consumer protection by prohibiting credit service organizations from selling consumer information to third-party financing entities. Specifically, it adds a new provision that explicitly forbids these organizations from selling consumer information 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 service organizations from engaging in deceptive practices, charging fees before services are rendered, and making false representations regarding credit services. The overall aim of the legislation is to safeguard consumer data and ensure that credit service organizations operate transparently and ethically in their dealings with consumers and third parties.

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