The Fair Credit Reporting Act in Arkansas
The state of Arkansas has Arkansas Code 23-67-405 – The Use of Credit Information. This law provides that it is unlawful for an insurance company doing business in Arkansas to use a credit score that is calculated using income, gender, address, zip code, ethnic group, religion, marital status, or nationality of the consumer as a factor; provides that an insurer cannot deny, cancel or refuse to renew a policy; or based renewal rates, solely on the bases of credit information. Section 406 of this same Act provides for a dispute resolution and error correction procedure. However, this latter portion providing for a dispute resolution procedure conflicts with the federal Fair Credit Reporting Act, and therefore would not be of any use. Consumers in Arkansas should still look to the FCRA for protection.
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If you have an error or inaccurate information on your credit report, there are actions that you can take. Contact SmithMarco, P.C., today for a completely free case review.