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Preemption
LAWDOG is intended to assist in the understanding of basic concepts. See Disclaimer. Always obtain legal advice from legal professionals.
State laws which regulate prescreening, adverse action notices, affilliate sharing of information (except in Vermont) and furnisher liability (except Massachusetts and California) are preempted by the respective sections of the Fair Credit Reporting Act as amended by the Consumer Credit Reporting Reform Act of 1996, until January 1, 2004. "Preempted" means essentially that the Federal law takes the place of, or replaces State laws in these subject areas.
After that date, state legislators may make changes, but they must enact new laws after January 1, 2004, to do so. The new laws must state explicitly that it is intended to "supplement" the Federal law, and, must give greater protection to consumers than is provided under the Fair Credit Reporting Act as amended by the Consumer Credit Reporting Reform Act of 1996.
