US Congress House Bill 5479 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on September 16 2014 - 25% progression, died in committee
Action: 2014-09-16 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Amends the Fair Credit Reporting Act (FCRA) to require any person (any individual, partnership, corporation, trust, estate, cooperative, association, government or governmental agency, or other entity) who develops a tool or system for deriving a credit score to make such tool or system available to the public, including on such person's website. Removes provisions that prohibit FCRA from being construed to require: (1) a consumer reporting agency to disclose to a consumer any information concerning credit scores or any other risk scores or predictors relating to the consumer, or (2) a consumer reporting agency that distributes credit scores developed by another person or entity to provide a further explanation of such scores or to process a dispute regarding the accuracy of a consumer's file. Requires a person or entity who furnishes information to a consumer reporting agency with respect to a debt of a consumer to notify the consumer reporting agency of any settlement agreement that the person or entity has entered into with the consumer regarding such debt within 30 days of any such agreement.

To amend the Fair Credit Reporting Act to require public disclosure of the method used to calculate consumer credit scores and inclusion of debt settlement agreements in consumer reports.

Rep. Kerry Bentivolio [R-MI]

Date	Chamber	Action
2014-09-16	House	Referred to the House Committee on Financial Services.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/house-bill/5479/all-info
Text	https://www.congress.gov/113/bills/hr5479/BILLS-113hr5479ih.pdf