Consumer Credit Protection Act Amendments of 2003

Summary

Consumer Credit Protection Act Amendments of 2003 - Amends the Fair Credit Reporting Act to set forth impermissible uses of consumer credit scores by an insurance provider with respect to a consumer or insurance applicant. Mandates that any credit scoring system used to generate any risk or credit score be in compliance with the Equal Credit Opportunity Act. Requires a consumer reporting agency, upon request, to disclose to the consumer clearly and accurately all information in the consumer's file, including: (1) credit consumer reports and any information concerning reports and credit scores; (2) any other risk scores or predictors, including any credit scores used; and (3) a clear, concise summary of how the scores and predictors are derived. Cites circumstances that require a consumer reporting agency to furnish free disclosures upon request. Requires every consumer reporting agency taking adverse action based upon a consumer report to: (1) provide a copy of such report, including other risk scores or predictors, and credit scores used; and (2) provide a written summary of all consumer rights and how to exercise them.

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Timeline

1. 18 July 2003

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

2. 18 July 2003

   Introduced

   Introduced in House

   Source: IntroReferral

3. 18 July 2003

   Introduced

   Introduced in House

   Source: IntroReferral

4. 4 August 2003

   Referred

   Referred to the Subcommittee on Financial Institutions and Consumer Credit.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 18 July 2003 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 18 July 2003

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 18 July 2003

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 18 July 2003

  Open at official source

Sponsors

• Bennie Thompson · D · Sponsor
• · hsba00 · Standing

Related records

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