Consumer reporting agencies, under 15 U.S.C.A. § 1681e, must require that prospective users of consumer reports:
identify themselves,
certify the purposes for which the information is sought, and
certify that the information will be used for no other purpose.
Title: South Dakota Prospective User's Certification of Purposes For Which Consumer Reports Will Be Used Description: The South Dakota Prospective User's Certification of Purposes For Which Consumer Reports Will Be Used is a legal document that outlines the various purposes for which consumer reports will be used by prospective users in the state of South Dakota. Consumer reports, which contain sensitive personal and financial information, must be used responsibly and ethically, with the consent of the consumers involved. Keywords: South Dakota, prospective user's certification, consumer reports, purposes, legal document, personal information, financial information, responsible use, ethical use, consent Types of South Dakota Prospective User's Certification of Purposes For Which Consumer Reports Will Be Used: 1. Employment Screening: This type of certification is used by employers or hiring agencies to verify the qualifications, background, and track records of potential employees. The certification outlines the specific purposes for which consumer reports will be used in the hiring process, ensuring a fair and informed decision-making process. 2. Creditworthiness Assessment: Financial institutions, lenders, and credit agencies may require prospective users to submit this certification to obtain consumer reports for assessing an individual's creditworthiness. This certification clearly outlines that the information obtained will be used solely for evaluating credit applications, extending credit, or managing existing credit relationships. 3. Tenant Screening: Property owners, landlords, and property management companies often request this certification for accessing consumer reports to screen potential tenants. The document specifies that the information from consumer reports will be used to determine an applicant's suitability as a tenant, assess rental history, and mitigate risks associated with renting property. 4. Insurance Eligibility: Insurance companies and underwriters may require this certification to access consumer reports and evaluate an individual's insurability or eligibility for certain insurance policies. The certification details the specific purposes for which consumer reports will be utilized, such as determining premium rates, assessing risk levels, and investigating claims history. 5. Professional Licensing: Individuals applying for professional licenses, such as doctors, lawyers, or real estate agents, may need to provide a certification indicating the intended use of consumer reports. This certification ensures that the information obtained from consumer reports will be used solely for assessing an individual's background, qualifications, and character, as required for obtaining or renewing professional licenses. 6. Business Due Diligence: Companies engaging in mergers, acquisitions, or partnerships may require this certification to access consumer reports on potential business partners or other companies. This certification explicitly states that consumer reports will be used solely for the purpose of conducting due diligence investigations, evaluating business risks, or assessing financial viability. It is essential for prospective users in South Dakota to complete and submit the appropriate type of certification, relevant to their specific purposes for accessing consumer reports. This ensures compliance with state laws and regulations, privacy protection of individuals, and responsible handling of sensitive personal and financial information.
