Consumer credit report: sale of property: natural disasters.

Assembly Member Calderon's consumer credit protection measure prohibits credit reporting agencies from including information about property sales in areas where the Governor has declared a state of emergency due to natural disasters that rendered the properties uninhabitable. The legislation amends California's Consumer Credit Reporting Agencies Act to add these disaster-related property sales to the list of items excluded from consumer credit reports.

The bill also bars creditors and financial institutions from using such property sales as a negative factor when making credit decisions. This provision mirrors existing protections for medical debt in consumer credit evaluations. Under the amended law, credit reporting agencies must omit these property sales from their reports, similar to current exclusions for certain bankruptcies, paid tax liens, and other specified information.