1.1                          A bill for an act 
  1.2             relating to consumer protection; regulating consumer 
  1.3             credit; requiring that creditors consider a credit 
  1.4             history in the name of the applicant's spouse; 
  1.5             requiring that creditors report a credit history in 
  1.6             the names of both spouses; providing enforcement; 
  1.7             proposing coding for new law in Minnesota Statutes, 
  1.8             chapter 325G. 
  1.9   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.10     Section 1.  [325G.165] [CONSUMER CREDIT; EQUAL TREATMENT OF 
  1.11  SPOUSES.] 
  1.12     Subdivision 1.  [DEFINITIONS.] (a) Except as otherwise 
  1.13  provided, the terms used in this section have the meanings given 
  1.14  them in Code of Federal Regulations, title 12, part 226.  
  1.15     (b) For purposes of this section, consumer credit includes 
  1.16  credit offered or extended to a consumer for agricultural 
  1.17  purposes. 
  1.18     Subd. 2.  [CONSIDERATION REQUIRED; SPOUSAL CREDIT 
  1.19  HISTORY.] (a) To the extent that a creditor considers credit 
  1.20  history in evaluating the credit worthiness of similarly 
  1.21  qualified consumer credit applicants for a similar type and 
  1.22  amount of credit, in evaluating a consumer credit applicant's 
  1.23  credit worthiness, the creditor shall consider: 
  1.24     (1) the credit history, when available, of accounts 
  1.25  designated as accounts that the applicant and the applicant's 
  1.26  spouse are permitted to use or for which both are contractually 
  1.27  liable; and 
  2.1      (2) at the applicant's request, the credit history, when 
  2.2   available, of any account reported in the name of the 
  2.3   applicant's spouse or former spouse that the applicant can 
  2.4   demonstrate accurately reflects the applicant's credit 
  2.5   worthiness. 
  2.6      (b) In considering a credit history referred to in 
  2.7   paragraph (a), the issuer shall consider it as if the credit 
  2.8   history were reported in the name of the applicant. 
  2.9      (c) This section does not affect the right of a creditor to 
  2.10  decline to issue consumer credit to an applicant who does not 
  2.11  meet the creditor's standards of credit worthiness, other than 
  2.12  credit history. 
  2.13     Subd. 3.  [CREDIT REPORTING; EQUAL TREATMENT OF 
  2.14  SPOUSES.] (a) A creditor that furnishes credit information shall 
  2.15  designate: 
  2.16     (1) any new consumer credit account to reflect the 
  2.17  participation of both spouses if the applicant's spouse is 
  2.18  permitted to use or is contractually liable on the account, 
  2.19  other than as a guarantor, surety, endorser, or similar party; 
  2.20  and 
  2.21     (2) any existing consumer credit account to reflect such 
  2.22  participation, within 90 days after receiving a written request 
  2.23  to do so from one of the spouses.  The issuer shall at least 
  2.24  once per year inform the account holder in writing of the right 
  2.25  to make that request. 
  2.26     (b) If a creditor furnishes credit information to a 
  2.27  consumer reporting agency concerning a consumer credit account 
  2.28  designated to reflect the participation of both spouses, the 
  2.29  creditor shall furnish the information in a manner that will 
  2.30  enable the agency to provide access to the information in the 
  2.31  name of each spouse. 
  2.32     (c) If a creditor furnishes credit information in response 
  2.33  to an inquiry concerning a consumer credit account designated to 
  2.34  reflect the participation of both spouses, the creditor shall 
  2.35  furnish the information in the name of the spouse about whom the 
  2.36  information is requested. 
  3.1      Subd. 4.  [ENFORCEMENT.] Enforcement of this section is 
  3.2   under section 8.31, except that in the private cause of action 
  3.3   under section 8.31, subdivision 3a, the damages are limited to 
  3.4   $1,000 and the plaintiff has no right to recover costs of 
  3.5   investigation and attorney fees.