Today, the U.S. House of Representatives passed H.R. 3621, the Comprehensive credit scoring Enhancement, Disclosure, Innovation, and Transparency Act of 2020 (“Comprehensive CREDIT Act”), legislation sponsored by Rep. Ayanna Pressley (D-MA), with a vote of 221 to 189.
H.R. 3621 would overhaul the credit system that is reporting empowering customers with additional control over their information and requiring customer reporting agencies (CRAs) like Equifax, TransUnion, and Experian, to higher make sure that the info on credit rating reports is accurate and complete.
See below for Chairwoman Waters’ floor statement from the bill.
As Prepared for Distribution
Mr. Chairman, we increase in strong support of H.R. 3621, the Comprehensive Credit Reporting Enhancement, Disclosure, Innovation, and Transparency Act, legislation sponsored by Representative Ayanna Pressley of Massachusetts today. This package of bills develops upon reforms that Members of the Financial solutions Committee have now been developing for a number of Congresses.
Mr. Chairman, credit scoring is unlike virtually any company. Individuals are maybe perhaps not clients of credit rating agencies—they will be the item. Credit scoring agencies package up consumers’ data to sell to loan providers, companies along with other companies. Leer más «Pr announcements Home Passes Pressley Bill to Reform Cracked Credit Rating System»