A. Any credit bureau or user of information that willfully fails to comply with any requirement of Sections 56-3-1 through 56-3-6 NMSA 1978 with respect to any consumer is liable to that consumer in an amount equal to:

(1) any actual damages sustained by the consumer as a result of the failure;

(2) punitive damages as the court may allow; and

(3) in the case of any successful action under this section, costs of the action and reasonable attorney's fees as determined by the court.

B. Any credit bureau or user of information that is negligent in failing to comply with any requirement of Sections 56-3-1 through 56-3-6 NMSA 1978 with respect to any consumer is liable to that consumer in an amount equal to:

(1) any actual damages sustained by the consumer as a result of the failure; and

(2) in the case of any successful action under this section, costs of the action and reasonable attorney's fees as determined by the court.

History: 1953 Comp., § 50-18-7, enacted by Laws 1971, ch. 278, § 2.

Analogous to federal law. — The New Mexico's Credit Bureaus Act operates as a state consumer-protection statute analogous to the Fair Credit Reporting Act, 15 U.S.C. §§ 1681 et seq., not merely a statutory codification of the common-law torts of defamation, invasion of privacy, or negligence. Apodaca v. Discover Fin. Servs., 417 F.Supp.2d 1220 (D.N.M. 2006).

Law reviews. — For comment, "Credit Bureaus and Consumers - Regulation and Remedy in New Mexico," see 10 Nat. Resources J. 171 (1970).

Am. Jur. 2d, A.L.R. and C.J.S. references. — 15A Am. Jur. 2d Collection and Credit Agencies §§ 22 to 29.

Award of attorneys' fees in actions under state deceptive trade practice and consumer protection acts, 35 A.L.R.4th 12.