Bill > HR9991

This bill, the Ending Scam Credit Repair Act (ESCRA Act), aims to add additional protections against harmful practices within the credit repair organization industry. The key provisions of the bill include: 1. Clarifying the definition of a "credit repair organization" to exclude certain legal services and add additional entities under the law's purview. 2. Prohibiting credit repair organizations from making untrue or misleading statements to government agencies and law enforcement, and imposing additional restrictions on payment in advance for services and the practice of "jamming" (repeated dispute submissions). 3. Enhancing disclosure requirements for credit repair organizations, including informing consumers that the services they provide are things the consumer can do themselves for free. 4. Requiring credit repair organizations to provide consumers with copies of all communications sent on their behalf. 5. Subjecting credit repair organizations to the law regardless of whether they employ an attorney, and requiring credit repair organizations to be licensed by a state starting in 2026. 6. Establishing new requirements for credit repair organizations' communications with information furnishers, such as disclosing their status as a credit repair organization. 7. Allowing for civil liability of $500 per violation of the Credit Repair Organizations Act.

Business and Industry

https://www.congress.gov/bill/118th-congress/house-bill/9991/all-info