FACT Act Rulewriting Improvement Act of 2007

Summary

FACT Act Rulewriting Improvement Act of 2007 - Amends the Fair Credit Reporting Act to confer responsibility upon the Federal Trade Commission (FTC) alone to establish accuracy guidelines and prescribe regulations (according to the Fair and Accurate Credit Transactions Act of 2003, or the FACT Act of 2003): (1) for furnishers of information to consumer reporting agencies; and (2) about the circumstances under which such a furnisher shall be required to reinvestigate a dispute concerning the accuracy of information in a consumer report, based on a consumer's direct request. (Currently the FTC, the federal banking agencies, and the National Credit Union Administration are jointly required to establish such guidelines and prescribe such regulations.) Directs the federal banking agencies and the National Credit Union Administration to establish guidelines and prescribe regulations within their respective jurisdictions that are the same or substantially similar to those prescribed by the FTC.

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Timeline

1. 14 September 2007

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

2. 14 September 2007

   Introduced

   Introduced in House

   Source: IntroReferral

3. 14 September 2007

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 14 September 2007 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 14 September 2007

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 14 September 2007

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 14 September 2007

  Open at official source

Sponsors

• Rep. Frank, Barney [D-MA-4] · D · Sponsor
• · hsba00 · Standing

Related records

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