Page:United States Statutes at Large Volume 104 Part 5.djvu/1087

 PUBLIC LAW 101-625—NOV. 28, 1990 104 STAT. 4409 servicer regarding other information sought by the borrower. "(2) ACTION WITH RESPECT TO INQUIRY.— Not later than 60 days (excluding legal public holidays, Saturdays, and Sundays) after the receipt from any borrower of any qualified written request under paragraph (1) and, if applicable, before taking any action with respect to the inquiry of the borrower, the servicer shall— "(A) make appropriate corrections in the account of the borrower, including the crediting of any late charges or penalties, and transmit to the borrower a written notification of such correction (which shall include the name and telephone number of a representative of the servicer who can provide assistance to the borrower); "(B) after conducting an investigation, provide the borrower with a written explanation or clarification that includes— "(i) to the extent applicable, a statement of the reasons for which the servicer believes the account of the borrower is correct as determined by the servicer; and "(ii) the name and telephone number of an individual employed by, or the office or department of, the servicer who can provide assistance to the borrower; or "(C) after conducting an investigation, provide the borrower with a written explanation or clarification that includes— "(i) information requested by the borrower or an explanation of why the information requested is unavailable or cannot be obtained by the servicer; and "(ii) the name and telephone number of an individual employed by, or the office or department of, the servicer who can provide Eissistance to the borrower. "(3) PROTECTION OF CREDIT RATING. —During the 60-day period beginning on the date of the servicer's receipt from any borrower of a qualified written request relating to a dispute regarding the borrower's payments, a servicer may not provide information regarding any overdue pa3anent, owed by such borrower and relating to such period or qualified written request, to any consumer reporting agency (as such term is defined under section 603 of the Fair Credit Reporting Act). "(f) DAMAGES AND COSTS.—Whoever fails to comply with any provision of this section shall be liable to the borrower for each such failure in the following amounts: "(1) INDIVIDUALS. —In the case of any action by an individual, an amount equal to the sum of— "(A) any actual damages to the borrower as a result of the failure; and "(B) any additional damages, as the court may allow, in the case of a pattern or practice of noncompliance with the requirements of this section, in an amount not to exceed $1,000. "(2) CLASS ACTIONS. — In the case of a class action, an amount equal to the sum of— "(A) any actual damages to each of the borrowers in the class as a result of the failure; and "(B) any additional damages, as the court may allow, in the case of a pattern or practice of noncompliance with the requirements of this section, in an amount not greater than

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