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An Act To Allow Consumers To Shop for Credit without Damaging Their Credit Scores
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 10 MRSA §1310-H, sub-§3, as enacted by PL 2013, c. 228, §1, is amended to read:
 
3. Nonliability.   A person may not be held liable for any violation of this section if the person shows by a preponderance of the evidence that at the time of the alleged violation the person maintained reasonable procedures to ensure compliance with the provisions of subsections 1 and, 2 and 4.
Sec. 2.  10 MRSA §1310-H, sub-§4  is enacted to read:
 
4.  Consideration of credit inquiries.     Notwithstanding any provision of federal law, a consumer reporting agency may not consider the number of credit inquiries made by a consumer or on behalf of a consumer as a factor in the calculation of a consumer's credit score.
 
SUMMARY
This bill prohibits a consumer reporting agency from considering the number of credit inquiries made by a consumer or on behalf of a consumer as a factor in the calculation of a consumer's credit score.