US HB5446 | 2013-2014 | 113th Congress

Status

Spectrum: Bipartisan Bill
Status: Introduced on September 10 2014 - 25% progression, died in committee
Action: 2014-09-10 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Facilitating Access to Credit Act of 2014 - Amends the Credit Repair Organizations Act to exempt from its coverage any consumer reporting agency (or affiliate or subsidiary) described under the Fair Credit Reporting Act as: one that compiles and maintains files on consumers on a nationwide basis; or any person which, for monetary fees, dues, or on a cooperative nonprofit basis, regularly engages in whole or in part in the practice of assembling or evaluating consumer credit information or other information on consumers in order to furnish consumer reports to third parties, if the person is subject to supervision and examination by the Consumer Financial Protection Bureau (CFPB). Preempts state law and regulations concerning a credit repair organization to the extent they would apply to consumer reporting agencies subject to this Act. Directs the Federal Trade Commission (FTC) to study whether, in addition to these persons, any other person should be exempt from the Credit Repair Organizations Act.

Tracking Information

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Title

Facilitating Access to Credit Act of 2014

Sponsors


History

DateChamberAction
2014-09-10HouseReferred to the House Committee on Financial Services.

Subjects


US Congress State Sources


Bill Comments

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