The State of Texas has outlined specific laws to regulate consumer credit reporting agencies and how they do business with Texas consumers. Credit bureaus must follow these guidelines when reporting information about Texas residents to third-party organizations.

What types of protections for consumers are outlined by Credit Reporting Agency laws?

Among other things, Texas law provides the following protections and guidelines:

  • Credit reporting agencies must furnish a copy of all records in the personal file to the consumer at their request.
  • Credit bureaus must follow specific dispute and correction procedures when a consumer disputes the accuracy of a debt, tradeline, or other item on the credit report.
  • Credit reporting agencies must give the consumer the ability to request a security alert or security freeze on their account at any time.
  • Credit reporting agencies must restrict dissemination of personal information and are allowed to furnish such information only if the organization requesting it falls within the scope of the law. Credit agencies may only furnish information in response to a court order, in accordance with written instructions from the consumer, or to an authorized person or agency for the purposes of employment, extending credit, providing insurance, a legitimate business need, to determine governmental licensing, or for use authorized by the Fair Credit Reporting Act.
  • Credit reporting agencies have a civil liability in the event that they violate the law and may be subject to monetary damages.

Where can i read more about the regulation of consumer reporting agencies in the State of Texas?

Regulation of credit reporting agencies is outlined in the Texas Business & Commerce Code, Chapter 20. Regulation of Consumer Credit Reporting Agencies.