(a) No individual, firm, association, corporation or other entity may engage in the business of a consumer credit reporting agency in New York by furnishing a consumer credit report on a New York consumer to any individual or entity without having a valid registration as a consumer credit reporting agency filed with section 201.2 of this Part unless the individual, firm, association, corporation or other entity is not required to be registered pursuant to section 201.2(a) of this Part.

(b) No regulated person may pay any fee or other compensation to any consumer credit reporting agency that is required to be registered pursuant to section 201.2(a) of this Part but fails to possess the required registration.

(c) No regulated person may transmit any information about a resident of New York State to a consumer credit reporting agency that is required to be registered pursuant to section 201.2(a) of this Part but fails to possess the required registration.