R152. Commerce, Consumer Protection.R152-21. Credit Services Organizations Act Rule.
R152-21-101. Purpose.
The purpose of this rule is to aid the division's administration and enforcement of Title 13, Chapter 21, Credit Services Organizations Act.
R152-21-102. Authority.
This rule is promulgated in accordance with Subsection 13-2-106(1).
R152-21-103. Definitions.
(1) "Challenge" means any act performed by a credit services organization to dispute an entry appearing on the buyer's credit report.
(2) "Inaccurate information" means data that includes a typographical error or similar clerical or technical fault that creates reasonable doubt about the data's reliability.
(3) "Material error" means false or misleading information on a buyer's credit report that could reasonably affect a decision to extend or deny credit to the buyer.
(4) "Material omission" means information that:
(a) should appear on a buyer's credit report but does not; and
(b) could reasonably affect a decision to extend or deny credit to the buyer.
(5) "Outdated information" means information that, in accordance with state or federal law, should not appear on the buyer's credit report because of its age.
(6) "Unverifiable information" means an entry on a credit report that lacks supporting evidence sufficient to convince a reasonable person that the entry is proper.
KEY: credit services, consumer, protection
Date of Last Change: August 19, 2026
Notice of Continuation: October 4, 2023
Authorizing, and Implemented or Interpreted Law: 13-2-5(1)
