To amend the Fair Credit Reporting Act to assure the completeness and accuracy of consumer information maintained by credit reporting agencies, to better inform consumers of their rights under the Act, and to improve enforcement, and for other purposes.

openUnited States· United States Congress· EN

Introduced

18 February 1993

Last action

14 June 1994 · Introduced

Status

Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 461.

Summary

TABLE OF CONTENTS: Title I: Amendments to Fair Credit Reporting Act Title II: Credit Repair Organizations Title I: Amendments to Fair Credit Reporting Act - Consumer Reporting Reform Act of 1993 - Amends the Fair Credit Reporting Act (the Act) to specify that the term "credit transaction which is not initiated by the consumer" does not include use of a consumer report (CR) by a person with which the consumer has an account for purposes of reviewing or collecting the account. Allows the furnishing of a CR for: (1) a legitimate business need in connection with a business transaction that is initiated by the consumer; and (2) employment purposes only if certain disclosures are made, the consumer consents, and the information will not be used in violation of any Federal or State equal employment opportunity law or regulation. Prohibits: (1) using or obtaining information from a CR unless it is obtained for an authorized purpose and the purpose is certified under certain provisions of the Act; (2) a consumer reporting agency (CRA) from prohibiting a CR user from disclosing the CR to the consumer if adverse action against the consumer is contemplated; and (3) the furnishing of a CR for use in direct marketing not initiated by the consumer. Requires CRAs to maintain a notification system, including a toll-free telephone number, which permits any consumer to elect to be excluded from lists provided in connection with solicitations of credit not initiated by the consumer. Removes exceptions to prohibitions on reporting obsolete information. (Current law prohibits reporting information which is over a specified number of years old, except for credit transactions, life insurance, or employment involving amounts over specified limits.) Regulates the beginning of the seven-year reporting period for certain types of information. Requires CRAs to: (1) include information received that an account was closed by a consumer in good standing when when closed by the consumer with no outstanding balance; and (2) notify regular information suppliers of the suppliers' responsibilities under the Act. Prohibits a person who procures a CR from reselling the information unless the identity of the end user and the purpose is disclosed to the CRA. Requires a CRA to: (1) disclose to a consumer all information in the consumer's file, certain information about the recipients of a CR, the permissible purpose for which each recipient procured a CR, a record of inquiries in the last six months that identified the consumer in connection with a credit transaction which was not initiated by the consumer, and, with any such disclosures, a summary of the consumer's rights under the Act; and (2) unless the dispute is frivolous or irrelevant to reinvestigate disputed information free of charge or delete the item from the file, to notify the information furnisher, to delete inaccurate, incomplete, or unverifiable information, and to notify the consumer of the results of the reinvestigation. Regulates charges by CRAs for certain disclosures. Requires any person who takes an adverse action with respect to a consumer in connection with a transaction initiated by the consumer or an employment determination to notify the consumer, disclose the identity of the CRA furnishing the report, advise the consumer of certain rights, and give certain information on any credit scoring system or other predictor of credit wothiness used. Subjects any person (currently, any CRA or user of information) to civil liability for willful or negligent noncompliance with the Act. Sets forth: (1) duties of furnishers of information to CRAs, including a prohibition on furnishing information which the furnisher has reasonable cause to believe is incomplete or inaccurate; and (2) provisions regarding investigative consumer reports. Increases criminal penalties for obtaining information under false pretenses. Authorizes State civil actions to enforce the Act, subject to a specified limitation. Requires each CRA which compiles and maintains consumer reports nationwide to maintain a toll-free telephone number. Title II: Credit Repair Organizations - Amends the Consumer Credit Protection Act to provide that specified provisions of that Act may be cited as the Credit Repair Organizations Act. Prohibits: (1) advising any consumer to make an untrue or misleading statement, or to alter the consumer's identification to prevent the display of the consumer's credit record; (2) other fraud or deception; and (3) a credit repair organization (CRO) from charging or receiving valuable consideration for any service before such service is fully performed. Specifies a statement which a CRO must provide to consumers before an agreement is executed regarding the consumer, the CRO, and related rights, powers, and obligations. Requires written, signed contracts covering specified matters in order for a CRO to provide services. Allows a consumer to cancel a contract with a CRO within three business days of making the contract. Declares void any consumer waiver of any protection under this title. Makes an attempt to obtain a waiver a violation of this title. Voids any contract not in compliance with this title. Provides for civil liability for failing to comply with this title, including allowing punitive damages and class actions. Requires enforcement of this title under the Federal Trade Commission Act (FTCA) by the Federal Trade Commission (FTC). Makes: (1) a violation of this title an unfair or deceptive act or practice in violation of specified provisions of the FTCA; and (2) all functions and powers of the FTC available for enforcement of this title. Allows State enforcement through Federal or State courts.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

18 February 1993
Introduced
Referred to the House Committee on Banking, Finance + Urban Affrs.
Source: IntroReferral
18 February 1993
Introduced
Sponsor introductory remarks on measure. (CR E372)
Source: IntroReferral
18 February 1993
Introduced
Introduced in House
Source: IntroReferral
18 February 1993
Introduced
Introduced in House
Source: IntroReferral
17 March 1993
Referred
Referred to the Subcommittee on Consumer Credit and Insurance.
Source: Committee
20 October 1993
Committee
Subcommittee Hearings Held.
Source: Committee
19 November 1993
Vote
Forwarded by Subcommittee to Full Committee (Amended) by the Yeas and Nays: 17 - 12.
Source: Committee
19 November 1993
Committee
Subcommittee Consideration and Mark-up Session Held.
Source: Committee
9 February 1994
Committee
Committee Consideration and Mark-up Session Held.
Source: Committee
3 March 1994
Vote
Ordered to be Reported (Amended) by the Yeas and Nays: 29 - 20.
Source: Committee
3 March 1994
Committee
Committee Consideration and Mark-up Session Held.
Source: Committee
28 April 1994
Calendars
Placed on the Union Calendar, Calendar No. 271.
Source: Calendars
28 April 1994
Reported
Reported (Amended) by the Committee on Banking, Finance + Urban Affrs. H. Rept. 103-486.
Source: Committee
28 April 1994
Reported
Reported (Amended) by the Committee on Banking, Finance + Urban Affrs. H. Rept. 103-486.
Source: Committee
13 June 1994
Passed
Motion to reconsider laid on the table Agreed to without objection.
Source: Floor
13 June 1994
Passed
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
Source: Floor
13 June 1994
Passed
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
Source: Floor
13 June 1994
Floor
DEBATE - The House proceeded with forty minutes of debate.
Source: Floor
13 June 1994
Floor
Considered under suspension of the rules. (consideration: CR H4355-4367)
Source: Floor
13 June 1994
Floor
Mr. Gonzalez moved to suspend the rules and pass the bill, as amended.
Source: Floor
14 June 1994
Introduced
Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 461.
Source: Calendars

Votes

No vote records are attached yet.

Versions

Placed on Calendar Senate · 14 June 1994 · Download file
Engrossed in House · 13 June 1994 · Download file
Reported in House · 28 April 1994 · Download file
Introduced in House · 18 November 1993 · Download file

Documents

10 official files

Placed on Calendar Senate (text)

View file Download file

This file cannot be previewed here. Use View or Download.

Leesvertaling

Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

Vertaal naar

Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Placed on Calendar Senate (text)
Placed on Calendar Senate · EN · 14 June 1994
View Download Open at official source
Placed on Calendar Senate (PDF)
Placed on Calendar Senate · EN · 14 June 1994
View Download Open at official source
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Vertaal naar
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.
Engrossed in House (text)
Engrossed in House · EN · 13 June 1994
View Download Open at official source
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Vertaal naar
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.
Engrossed in House (PDF)
Engrossed in House · EN · 13 June 1994
View Download Open at official source
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Vertaal naar
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.
Passed House amended
summary · EN · 13 June 1994
Open at official source
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Vertaal naar
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.
Reported in House (text)
Reported in House · EN · 28 April 1994
View Download Open at official source
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Vertaal naar
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.
Reported in House (PDF)
Reported in House · EN · 28 April 1994
View Download Open at official source
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Vertaal naar
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.
Introduced in House (text)
Introduced in House · EN · 18 November 1993
View Download Open at official source
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Vertaal naar
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.
Introduced in House (PDF)
Introduced in House · EN · 18 November 1993
View Download Open at official source
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Vertaal naar
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.
Introduced in House
summary · EN · 18 February 1993
Open at official source
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Vertaal naar
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Related records

related to ← Consumer Reporting Reform Act of 1994

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/103rd-congress/house-bill/1015
Open data entity: https://api.congress.gov/v3/bill/103/hr/1015
us · 103-hr-1015 · source updated 6 February 2024