Current through Register Vol. 51, No. 19, September 20, 2024
A. During
the time period established by the Commissioner under §B of this
regulation, each consumer reporting agency shall:
(1) Obtain and maintain a valid unique
identifier issued by NMLS when an account is created with NMLS; and
(2) Transfer registration information to
NMLS.
B. The
Commissioner shall establish a time period that is not less than 2 months after
the effective date of these regulations within which a registrant must transfer
registration information to NMLS.
C. At least 30 days before the transfer
period begins, the Commissioner shall:
(1)
Notify all registrants of the transfer period; and
(2) Provide instructions for the transfer of
registration information to NMLS.
D. Subject to §A of this regulation, a
consumer credit reporting agency submitting an initial registration or a
registration renewal shall apply for the initial registration or registration
renewal through NMLS on or after November 1 of the year in which these
regulations are effective and annually thereafter.
E. To register, the consumer reporting agency shall
provide all information required by the Commissioner through NMLS, including:
(1) The address of
(a) The the principal executive
office
(2) The name of a
responsible official of the consumer reporting agency who is available to
respond expeditiously to inquiries or complaints referred by the Commissioner
or the Commissioner's designee;
(3)
A toll-free telephone number for use by the Commissioner or the Commissioner's
designee, at which the responsible official required to be identified in this
section may be reached;
(4) A
toll-free telephone number or numbers maintained by the consumer reporting
agency which is available to all Maryland residents for making
inquiries;
(5) A certification by
a control person that the consumer reporting agency has trained personnel
sufficient to promptly and properly investigate and respond to consumer
complaints and inquiries available;
(6) The mailing address or addresses to which a
consumer may correspond with the consumer reporting agency in order to:
(a) Obtain a copy of their consumer report,
and
(b) File written complaints or
disputes about the accuracy of information contained in their consumer
report;
(7) A
certification by a control person who has primary oversight responsibility for
the consumer reporting agency's technology system that the consumer reporting
agency is in compliance with all applicable data security requirements,
including the requirements of the Fair Credit Reporting Act (15 U.S.C. § 1681 et seq.) and, if applicable, the
Gramm-Leach-Bliley Act (15
U.S.C. § 6801 et seq.) and their
respective implementing regulations;
(8) A copy of the declaration page,
certificate of liability, or similarly summarized coverage page of the consumer
reporting agency's cyber risk insurance policy, if applicable;
(9) A list of all websites and web
applications where there is consumer access to a service offered by the
consumer reporting agency;
(10) The
total number of consumer reports the consumer reporting agency assembled or
evaluated over the previous 12 months; and
(11) The name of any third-party technology
vendor that the consumer reporting agency utilizes to assemble, evaluate, or
store consumer reports prepared by the consumer reporting agency.
F. If, except for the information
required in §E(10) and (11) of this regulation, the information supplied
in a consumer reporting agency's registration becomes inaccurate at any time
during the calendar year, the consumer reporting agency shall immediately
submit the changes to the Commissioner through NMLS.
