Prohibiting credit bureaus and other consumer reporting agencies from selling consumer information to third party financing entities

HB 3097 prohibits credit services organizations from selling consumer information to third-party financing entities. The bill specifically bans these organizations from furnishing consumer reports for credit transactions not initiated by the consumer. It directly affects credit services organizations and consumers whose data they handle, preventing the sale of personal financial information for external financing purposes. The key provision (section 7 of §46A-6C-3) creates a clear legal barrier against this data-sharing practice.