summary
Introduced
07/05/2019
07/05/2019
In Committee
07/11/2019
07/11/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
To amend the Fair Credit Reporting act to restore the impaired credit of victims of predatory activities and unfair consumer reporting practices, to expand access to tools to protect vulnerable consumers from identity theft, fraud, or a related crime, and protect victims from further harm, and for other purposes. This bill revises requirements regarding consumer credit information included by a consumer reporting agency on a credit report, including by requiring removal of adverse information that resulted from specified fraudulent lending activity, shortening the time period adverse information stays on reports, and limiting the inclusion of certain medical debt on reports. The bill also requires a consumer reporting agency to provide free credit monitoring and identity theft protection services to certain consumers, including victims of fraud, active duty military, and those 65 years of age and older.
AI Summary
This bill amends the Fair Credit Reporting Act to restore the impaired credit of victims of predatory activities and unfair consumer reporting practices, expand access to tools to protect vulnerable consumers from identity theft, fraud, or a related crime, and protect victims from further harm. Key provisions include shortening the time period that most adverse credit information stays on consumer reports, mandating expedited removal of fully paid or settled debt, imposing restrictions on the appearance of medical collections, providing credit restoration for victims of predatory mortgage lending and proprietary education fraud, establishing the right for victims of financial abuse to have adverse information removed, prohibiting treatment of credit restoration as adverse information, enhancing fraud alert protections, establishing the right to free credit monitoring and identity theft protection services for certain consumers, and voiding certain contracts that are against the public interest.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Placed on the Union Calendar, Calendar No. 287. (on 12/23/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
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