[Pages S1610-S1614]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2185. Mr. SCHATZ (for himself, Mr. Brown, and Mr. Blumenthal) 
submitted an amendment intended to be proposed by him to the bill S. 
2155, to promote economic growth, provide tailored regulatory relief, 
and enhance consumer protections, and for other purposes; which was 
ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC. __. CREDIT LOCKS.

       (a) Credit Locks.--
       (1) In general.--The Fair Credit Reporting Act (15 U.S.C. 
     1681 et seq.) is amended by inserting after section 605B (15 
     U.S.C. 1681c-2) the following:

[[Page S1611]]

  


     ``SEC. 605C. PROTECTION OF CREDIT INFORMATION OF CONSUMERS.

       ``(a) Secure, Convenient, Accessible, and Cost-Free File 
     Locks for Consumers.--
       ``(1) In general.--Subject to paragraph (2), each consumer 
     reporting agency described in section 603(p) shall provide to 
     any consumer a secure, convenient, accessible, and cost-free 
     method that, with the express authorization of the consumer, 
     allows that consumer reporting agency to release, or prevents 
     that consumer reporting agency from releasing, any 
     information in the file of the consumer for the purpose of--
       ``(A) the marketing or extension of credit or insurance; or
       ``(B) opening any financial account.
       ``(2) Prohibitions.--With respect to the method described 
     in paragraph (1)--
       ``(A) the method may not be used by the consumer reporting 
     agency that provides the method, or by any other person, to 
     collect any information on a consumer that is not necessary 
     for the purposes of preventing the release of information 
     described in that paragraph;
       ``(B) no information collected under the method may be used 
     for any purpose other than a purpose described in 
     subparagraph (A);
       ``(C) in offering the method, a credit reporting agency 
     described in section 603(p) may not require a consumer to--
       ``(i) waive any rights of the consumer; or
       ``(ii) indemnify the credit reporting agency with respect 
     to any liabilities that arise from offering the method; and
       ``(D) the method may not be used by any person to market or 
     advertise any product or service.
       ``(3) Release of information.--Nothing in this subsection 
     shall affect the ability of a person with whom a consumer has 
     an account, contract, or debtor-creditor relationship to 
     obtain information regarding the consumer for the purposes of 
     reviewing the account or collecting on the account.
       ``(b) Regulations.--Not later than 18 months after the date 
     of enactment of this section, the Bureau shall prescribe 
     regulations carrying out this section.''.
       (2) Table of contents amendment.--The table of contents for 
     the Fair Credit Reporting Act (15 U.S.C. 1681 et seq.) is 
     amended by inserting after the item relating to section 605B 
     the following:

``605C. Protection of credit information of consumers.''.
       (b) Permissible Purposes of Credit Reports; Disclosure to 
     Consumers.--
       (1) In general.--The Fair Credit Reporting Act (15 U.S.C. 
     1681 et seq.) is amended--
       (A) in section 604 (15 U.S.C. 1681b)--
       (i) in subsection (a)--

       (I) in the matter preceding paragraph (1)--

       (aa) by striking ``Subject to subsection (c), any'' and 
     inserting ``Any''; and
       (bb) by striking ``a consumer report'' and inserting 
     ``information from the file of a consumer'';

       (II) in paragraph (3)--

       (aa) by striking subparagraphs (A) and (C);
       (bb) by redesignating subparagraph (B) as subparagraph (A);
       (cc) by redesignating subparagraphs (D) through (G) as 
     subparagraphs (B) through (E), respectively; and
       (dd) in subparagraph (D), as so redesignated, by striking 
     ``information--'' and all that follows through the period at 
     the end of clause (ii) and inserting the following: 
     ``information to review an account to determine whether the 
     consumer continues to meet the terms of the account; or''; 
     and

       (III) by adding at the end the following:

       ``(7) Pursuant to the express authorization of a consumer, 
     subject to the method provided under section 605C(a) in the 
     case of a consumer reporting agency described in section 
     603(p).'';
       (ii) by striking subsection (c); and
       (iii) by redesignating subsections (d) through (g) as 
     subsections (c) through (f), respectively;
       (B) in section 609(a)(1) (15 U.S.C. 1681g(a)(1)), by 
     striking ``request, except that--'' and all that follows 
     through the period at the end of subparagraph (B) and 
     inserting the following: ``request, without regard to whether 
     the information is held by a parent, subsidiary, or affiliate 
     of the consumer reporting agency.'';
       (C) in section 612(a)(1)(A) (15 U.S.C. 1681j(a)(1)(A)), by 
     striking ``once during any 12-month period''; and
       (D) in section 615 (15 U.S.C. 1681m)--
       (i) by striking subsection (d); and
       (ii) by redesignating subsections (e) through (h) as 
     subsections (d) through (g), respectively.
       (2) Regulations.--Not later than 18 months after the date 
     of enactment of this Act, the Bureau of Consumer Financial 
     Protection shall issue regulations carrying out section 
     609(a)(1) of the Fair Credit Reporting Act (15 U.S.C. 
     1681g(a)(1)), as amended by paragraph (1)(B).
       (3) Technical and conforming amendments.--
       (A) Consumer financial protection act of 2010.--Section 
     1002(12)(F) of the Consumer Financial Protection Act of 2010 
     (12 U.S.C. 5481(12)(F)) is amended--
       (i) by striking ``615(e)'' and inserting ``615(d)''; and
       (ii) by striking ``1681m(e)'' and inserting ``1681m(d)''.
       (B) Fair credit reporting act.--The Fair Credit Reporting 
     Act (15 U.S.C. 1681 et seq.) is amended--
       (i) in section 603 (15 U.S.C. 1681a)--

       (I) in subsection (d)(3), in the matter preceding 
     subparagraph (A), by striking ``section 604(g)(3)'' and 
     inserting ``section 604(f)(3)''; and
       (II) in subsection (k)(1)(B)--

       (aa) in clause (iii), by striking ``section 604(a)(3)(D)'' 
     and inserting ``section 604(a)(3)(B)''; and
       (bb) in clause (iv)(I), by striking ``section 
     604(a)(3)(F)(ii)'' and inserting ``section 604(a)(3)(D)'';
       (ii) in section 621 (15 U.S.C. 1681s)--

       (I) in subsection (b)(1), in the matter preceding 
     subparagraph (A), by striking ``persons who furnish 
     information to such agencies, and users of information that 
     are subject to section 615(d)'' and inserting ``and persons 
     who furnish information to such agencies''; and
       (II) in subsection (e)(1), in the first sentence, by 
     striking ``615(e)'' and inserting ``615(d)'';

       (iii) in section 623(c)(3) (15 U.S.C. 1681s-2(c)(3)), by 
     striking ``subsection (e)'' and inserting ``subsection (d)''; 
     and
       (iv) in section 625(b) (15 U.S.C. 1681t(b))--

       (I) in paragraph (1)--

       (aa) in subparagraph (A), by striking ``subsection (c) or 
     (e) of section 604'' and inserting ``section 604(d)'';
       (bb) by striking subparagraph (D);
       (cc) by redesignating subparagraphs (E) through (I) as 
     subparagraphs (D) through (H), respectively; and
       (dd) in subparagraph (H), as so redesignated, by striking 
     ``section 615(h)'' and inserting ``section 615(g)''; and

       (II) in paragraph (5)(F), by striking ``(e), (f), and (g)'' 
     and inserting ``(d), (e), and (f)''.

       (c) Enhancement of Fraud Alert Protections.--
       (1) In general.--Section 605A of the Fair Credit Reporting 
     Act (15 U.S.C. 1681c-1) is amended--
       (A) by striking subsection (a);
       (B) by redesignating subsections (b) through (h) as 
     subsections (a) through (g), respectively;
       (C) in subsection (a), as so redesignated--
       (i) in the subsection heading, by striking ``Extended'' and 
     inserting ``Fraud''; and
       (ii) in paragraph (1)--

       (I) in the matter preceding subparagraph (A), by striking 
     ``submits an identity theft report'' and inserting ``asserts 
     in good faith a suspicion that the consumer has been or is 
     about to become a victim of fraud or related crime, including 
     identity theft, or has been or will be harmed by the 
     unauthorized disclosure of the financial or personally 
     identifiable information of the consumer,'';
       (II) in subparagraph (A), by striking ``7-year'' and 
     inserting ``10-year'';
       (III) by striking subparagraph (B);
       (IV) by redesignating subparagraph (C) as subparagraph (B);
       (V) in subparagraph (B), as so redesignated--

       (aa) by striking ``extended''; and
       (bb) by striking the period at the end and inserting ``; 
     and''; and

       (VI) by adding at the end the following:

       ``(C) upon the expiration of the period described in 
     subparagraph (A), or a subsequent 10-year period, and in 
     response to a direct request by the consumer or such 
     representative, continue the fraud alert for an additional 
     period of 10 years if the consumer or such representative 
     submits an identity theft report.'';
       (D) in subsection (b), as so redesignated--
       (i) by striking paragraph (2);
       (ii) by redesignating paragraphs (1) and (3) as 
     subparagraphs (A) and (B), respectively, and adjusting the 
     margins accordingly;
       (iii) in the matter preceding subparagraph (A), as so 
     redesignated, by striking ``Upon the direct request'' and 
     inserting the following:
       ``(1) In general.--Upon the direct request''; and
       (iv) by adding at the end the following:
       ``(2) Access to free reports.--If a consumer reporting 
     agency includes an active duty alert in the file of an active 
     duty military consumer, the consumer reporting agency shall--
       ``(A) disclose to the active duty military consumer that 
     the active duty military consumer may request a free copy of 
     the file of the active duty military consumer under section 
     612(d) during each 1-year period beginning on the date on 
     which the activity duty military alert is requested and 
     ending on the date of the last day that the active duty alert 
     applies to the file of the active duty military consumer; and
       ``(B) not later than 3 business days after the date on 
     which the active duty military consumer makes a request 
     described in subparagraph (A), provide to the active duty 
     military consumer all disclosures required to be made under 
     section 609, without charge to the active duty military 
     consumer.'';
       (E) by amending subsection (c), as so redesignated, to read 
     as follows:
       ``(c) Procedures.--Each consumer reporting agency described 
     in section 603(p) shall establish and make available to the 
     public on the Internet website of the consumer reporting 
     agency policies and procedures to comply with this section, 
     including policies and procedures--
       ``(1) that inform consumers of the availability of fraud 
     alerts, active duty alerts, or the method provided under 
     section 605C(a), as applicable;
       ``(2) that allow consumers to request fraud alerts and 
     active duty alerts in a simple and easy manner; and

[[Page S1612]]

       ``(3) for asserting in good faith a suspicion that the 
     consumer has been or is about to become a victim of fraud or 
     related crime, including identity theft, or has been or will 
     be harmed by the unauthorized disclosure of the financial or 
     personally identifiable information of the consumer, for a 
     consumer requesting a fraud alert.'';
       (F) in subsection (d), as so redesignated, by striking 
     paragraphs (1), (2), and (3) and inserting the following:
       ``(1) paragraphs (1)(A), (1)(C), and (2) of subsection (a), 
     in the case of a referral under subsection (a)(1)(B); and
       ``(2) subsection (b)(1)(A), in the case of a referral under 
     subsection (b)(1)(B).'';
       (G) in subsection (f), as so redesignated, by inserting 
     ``or has been or will be harmed by the unauthorized 
     disclosure of the financial or personally identifiable 
     information of the consumer,'' after ``identity theft,''; and
       (H) in subsection (g), as so redesignated--
       (i) in paragraph (1)--

       (I) in the paragraph heading, by striking ``initial'' and 
     inserting ``fraud alerts'';
       (II) in subparagraph (A), by striking ``initial''; and
       (III) in subparagraph (B)(i), by striking ``an initial'' 
     and inserting ``a''; and

       (ii) in paragraph (2)--

       (I) in the paragraph heading, by striking ``extended'' and 
     inserting ``fraud'';
       (II) in subparagraph (A), in the matter preceding clause 
     (i), by striking ``extended'' and inserting ``fraud''; and
       (III) in subparagraph (B), by striking ``an extended'' and 
     inserting ``a''.

       (2) Technical and conforming amendment.--Section 612(d) of 
     the Fair Credit Reporting Act (15 U.S.C. 1681j(d)) is amended 
     by striking ``subsections (a)(2) and (b)(2) of section 605A, 
     as applicable'' and inserting ``section 605A(a)(2)''.
       (d) Stopping Errors in Consumer Use and Reporting.--
       (1) Legal recourse for consumers.--
       (A) Injunctive relief.--The Fair Credit Reporting Act (15 
     U.S.C. 1681 et seq.) is amended--
       (i) in section 616 (15 U.S.C. 1681n)--

       (I) in subsection (a), in the subsection heading, by 
     striking ``(a) In General.--'' and inserting ``(a) Damages.--
     '';
       (II) by redesignating subsections (c) and (d) as 
     subsections (d) and (e), respectively; and
       (III) by inserting after subsection (b) the following:

       ``(c) Injunctive Relief.--
       ``(1) In general.--In addition to any other remedy under 
     this section, a court may award injunctive relief to require 
     compliance with the requirements imposed under this title 
     with respect to any consumer.
       ``(2) Costs and attorney's fees.--In the event of any 
     successful action for injunctive relief under this 
     subsection, a court may award to the prevailing party costs 
     and reasonable attorney's fees (as determined by the court) 
     incurred by the prevailing party during the action.''; and
       (ii) in section 617 (15 U.S.C. 1681o)--

       (I) in subsection (a), in the subsection heading, by 
     striking ``(a) In General.--'' and inserting ``(a) Damages.--
     '';
       (II) by redesignating subsection (b) as subsection (c); and
       (III) by inserting after subsection (a) the following:

       ``(b) Injunctive Relief.--
       ``(1) In general.--In addition to any other remedy under 
     this section, a court may award injunctive relief to require 
     compliance with the requirements imposed under this title 
     with respect to any consumer.
       ``(2) Costs and attorney's fees.--In the event of any 
     successful action for injunctive relief under this 
     subsection, a court may award to the prevailing party costs 
     and reasonable attorney's fees (as determined by the court) 
     incurred by the prevailing party during the action.''.
       (B) Enforcement by federal trade commission.--Section 
     621(a)(2)(A) of the Fair Credit Reporting Act (15 U.S.C. 
     1681s(a)(2)(A)) is amended--
       (i) in the subparagraph heading, by striking ``(A) Knowing 
     violations.--'' and inserting ``(A) Negligent, willful, or 
     knowing violations.--''; and
       (ii) in the first sentence, by inserting ``negligent, 
     willful, or'' before ``knowing''.
       (2) Increased requirements for consumer reporting agencies 
     and furnishers of information.--
       (A) Provision and consideration of documentation provided 
     by consumers.--The Fair Credit Reporting Act (15 U.S.C. 1681 
     et seq.) is amended--
       (i) in section 611 (15 U.S.C. 1681i)--

       (I) in subsection (a)--

       (aa) in paragraph (2)--
       (AA) in subparagraph (A), in the second sentence, by 
     inserting ``, including all documentation provided by the 
     consumer'' after ``received from the consumer or reseller''; 
     and
       (BB) in subparagraph (B), by inserting ``, including all 
     documentation provided by the consumer,'' after ``from the 
     consumer or the reseller''; and
       (bb) in paragraph (4), by inserting ``, including all 
     documentation,'' after ``relevant information''; and

       (II) in subsection (f)(2)(B)(ii), by inserting ``, 
     including all documentation,'' after ``relevant 
     information''; and

       (ii) in section 623 (15 U.S.C. 1681s-2)--

       (I) in subsection (a)(8)(E), by striking clause (ii) and 
     inserting the following:

       ``(ii) review and consider all relevant information, 
     including all documentation, provided by the consumer with 
     the notice;''; and

       (II) in subsection (b)(1), by striking subparagraph (B) and 
     inserting the following:

       ``(B) review and consider all relevant information, 
     including all documentation, provided by the consumer 
     reporting agency under section 611(a)(2);''.
       (B) Gathering and reporting of information relating to 
     consumer disputes.--Section 611 of the Fair Credit Reporting 
     Act (15 U.S.C. 1681i) is amended by adding at the end the 
     following:
       ``(g) Gathering and Reporting of Information Relating to 
     Consumer Disputes.--
       ``(1) Reports required.--The Bureau shall provide reports 
     regarding the disputes described in subsection (a)(1) 
     received by consumer reporting agencies in such intervals and 
     to such parties as the Bureau deems appropriate.
       ``(2) Gathering of information.--The Bureau shall prescribe 
     rules for the gathering of information relating to disputes 
     described in subsection (a)(1) received by consumer reporting 
     agencies to be used in generating the reports under paragraph 
     (1), including rules establishing--
       ``(A) the type and format of information that the Bureau 
     shall receive from each consumer reporting agency; and
       ``(B) the frequency with which the Bureau shall receive the 
     information from consumer reporting agencies.''.
       (C) Accuracy compliance procedures.--Section 607 of the 
     Fair Credit Reporting Act (15 U.S.C. 1681e) is amended by 
     striking subsection (b) and inserting the following:
       ``(b) Accuracy of Report.--
       ``(1) In general.--A consumer reporting agency shall follow 
     reasonable procedures when preparing a consumer report to 
     ensure the maximum possible accuracy of the information 
     concerning the individual to whom the consumer report 
     relates.
       ``(2) Bureau rule to ensure maximum possible accuracy.--
       ``(A) Proposed rule.--Not later than 1 year after the date 
     of enactment of the Economic Growth, Regulatory Relief, and 
     Consumer Protection Act, the Bureau shall issue a proposed 
     rule establishing the procedures that a consumer reporting 
     agency shall follow to ensure maximum possible accuracy of 
     all consumer reports furnished by the agency in compliance 
     with this subsection.
       ``(B) Considerations.--When formulating the rule required 
     under subparagraph (A), the Bureau shall consider if 
     requiring the matching of the following information would 
     improve the accuracy of consumer reports:
       ``(i) The first name and last name of a consumer.
       ``(ii) The date of birth of a consumer.
       ``(iii) All 9 digits of the social security number of a 
     consumer.
       ``(iv) Any other information that the Bureau determines 
     would aid in ensuring maximum possible accuracy of all 
     consumer reports furnished by consumer reporting agencies in 
     compliance with this subsection.''.
       (D) Responsibilities of furnishers of information to 
     consumer reporting agencies.--Section 623(a)(8)(F)(i)(II) of 
     the Fair Credit Reporting Act (15 U.S.C. 1681s-
     2(a)(8)(F)(i)(II)) is amended by inserting ``, and does not 
     include any new or additional information that would be 
     relevant to a reinvestigation'' before the period at the end.
       (E) Disclosures to consumers.--Section 609 of the Fair 
     Credit Reporting Act (15 U.S.C. 1681g) is amended--
       (i) in subsection (a)(3)(B)--

       (I) in clause (i), by striking ``and'' at the end; and
       (II) by striking clause (ii) and inserting the following:

       ``(ii) the address and telephone number of the person; and
       ``(iii) the permissible purpose of the person for obtaining 
     the consumer report, including the specific type of credit 
     product that is extended, reviewed, or collected, as 
     described in section 604(a)(3)(A).'';
       (ii) in subsection (f)--

       (I) by amending paragraph (7)(A) to read as follows:

       ``(A) supply the consumer with a credit score that--
       ``(i) is derived from a credit scoring model that is widely 
     distributed to users by the consumer reporting agency for the 
     purpose of any extension of credit or other transaction 
     designated by the consumer who is requesting the credit 
     score; or
       ``(ii) is widely distributed to lenders of common consumer 
     loan products and predicts the future credit behavior of the 
     consumer; and''; and

       (II) in paragraph (8), by inserting ``, except that a 
     credit score shall be provided free of charge to the consumer 
     if requested in connection with a free annual consumer report 
     described in section 612(a)'' before the period at the end; 
     and

       (iii) in subsection (g)(1)--

       (I) in subparagraph (A)(ii), by striking ``subparagraph 
     (D)'' and inserting ``subparagraph (C)'';
       (II) in subparagraph (B)(ii), by striking ``consistent with 
     subparagraph (C)'';
       (III) by striking subparagraph (C); and
       (IV) by redesignating subparagraphs (D) through (G) as 
     subparagraphs (C) through (F), respectively.

       (F) Notification requirements.--
       (i) Adverse information notification.--The Fair Credit 
     Reporting Act (15 U.S.C. 1681 et seq.) is amended--

       (I) in section 612 (15 U.S.C. 1681j), by striking 
     subsection (b) and inserting the following:

[[Page S1613]]

       ``(b) Free Disclosure After Notice of Adverse Action or 
     Offer of Credit on Materially Less Favorable Terms.--
       ``(1) In general.--Not later than 14 days after the date on 
     which a consumer reporting agency receives a notification 
     under subsection (a)(2) or (h)(6) of section 615, or from a 
     debt collection agency affiliated with the consumer reporting 
     agency, the consumer reporting agency shall make, without 
     charge to the consumer, all disclosures required in 
     accordance with the rules prescribed by the Bureau under 
     section 609(h).
       ``(2) Transition period.--During the period beginning on 
     the effective date of the Stopping Errors in Consumer Use and 
     Reporting Act of 2017 and ending on the date on which the 
     Bureau finalizes the rule required under section 609(h), a 
     consumer reporting agency that is required to make 
     disclosures under this subsection shall provide to the 
     consumer a copy of the current credit report on the consumer 
     and any other disclosures required under this Act or the 
     Stopping Errors in Consumer Use and Reporting Act of 2017, 
     without charge to the consumer.''; and

       (II) in section 615(a) (15 U.S.C. 1681m(a))--

       (aa) by redesignating paragraphs (2), (3), and (4) as 
     paragraphs (3), (4), and (5), respectively;
       (bb) by inserting after paragraph (1) the following:
       ``(2) direct the consumer reporting agency that provided 
     the consumer report that was used in the decision to take the 
     adverse action to provide the consumer with the disclosures 
     described in section 612(b);''; and
       (cc) in paragraph (5), as so redesignated--
       (AA) in the matter preceding subparagraph (A), by striking 
     ``of the consumer's right'';
       (BB) by striking subparagraph (A) and inserting the 
     following:
       ``(A) that the consumer shall receive a copy of the 
     consumer report with respect to the consumer, free of charge, 
     from the consumer reporting agency that furnished the 
     consumer report; and''; and
       (CC) in subparagraph (B), by inserting ``of the right of 
     the consumer'' before ``to dispute''.
       (ii) Notification in cases of less favorable terms.--
     Section 615(h) of the Fair Credit Reporting Act (15 U.S.C. 
     1681m(h)) is amended--

       (I) in paragraph (1), by striking ``paragraph (6)'' and 
     inserting ``paragraph (7)'';
       (II) in paragraph (2), by striking ``paragraph (6)'' and 
     inserting ``paragraph (7)'';
       (III) in paragraph (5)(C), by striking ``may obtain'' and 
     inserting ``shall receive'';
       (IV) by redesignating paragraphs (6), (7), and (8) as 
     paragraphs (7), (8), and (9), respectively; and
       (V) by inserting after paragraph (5) the following:

       ``(6) Reports provided to consumers.--A person who uses a 
     consumer report as described in paragraph (1) shall notify 
     and direct the consumer reporting agency that provided the 
     consumer report to provide the consumer with the disclosures 
     described in section 612(b).''.
       (iii) Notification of subsequent submissions of negative 
     information.--Section 623(a)(7)(A)(ii) of the Fair Credit 
     Reporting Act (15 U.S.C. 1681s-2(a)(7)(A)(ii)) is amended by 
     striking ``account, or customer'' and inserting ``or 
     account''.
       (iv) Bureau rule defining certain disclosure 
     requirements.--Section 609 of the Fair Credit Reporting Act 
     (15 U.S.C. 1681g) is amended by adding at the end the 
     following:
       ``(h) Bureau Rule Defining Certain Disclosure 
     Requirements.--
       ``(1) Proposed rule.--Not later than 1 year after the date 
     of enactment of the Economic Growth, Regulatory Relief, and 
     Consumer Protection Act, the Bureau shall publish a proposed 
     rule to implement the disclosure requirements described in 
     section 612(b).
       ``(2) Considerations.--In formulating the rule required 
     under paragraph (1), the Bureau shall consider--
       ``(A) what information would enable consumers to--
       ``(i) determine the reasons for which a person--

       ``(I) took adverse action; or
       ``(II) offered credit on materially less favorable terms; 
     and

       ``(ii) verify the accuracy of that information; and
       ``(B) how to provide the information described in 
     subparagraph (A) while protecting consumer privacy, including 
     procedures to ensure that the information is provided to the 
     consumer at the appropriate address.''.
       (3) Regulatory reform.--Section 621 of the Fair Credit 
     Reporting Act (15 U.S.C. 1681s) is amended by adding at the 
     end the following:
       ``(h) Consumer Reporting Agency Registry.--
       ``(1) Establishment of registry.--Not later than 180 days 
     after the date of enactment of the Economic Growth, 
     Regulatory Relief, and Consumer Protection Act, the Bureau 
     shall establish 3 publicly available registries of consumer 
     reporting agencies, including a registry that contains--
       ``(A) each consumer reporting agency that compiles and 
     maintains files on consumers on a nationwide basis;
       ``(B) each nationwide specialty consumer reporting agency; 
     and
       ``(C) all other consumer reporting agencies that are not 
     included under section 603(p) or 603(x).
       ``(2) Registration requirement.--Each consumer reporting 
     agency shall register with a registry established by the 
     Bureau under this subsection in a timeframe established by 
     the Bureau.''.
       (4) Identity theft protection for minors.--
       (A) In general.--The Fair Credit Reporting Act (15 U.S.C. 
     1681 et seq.) is amended by inserting after section 605B (15 
     U.S.C. 1681c-2) the following:

     ``SEC. 605C. ADDITIONAL PROTECTIONS FOR CREDIT REPORTS OF 
                   MINOR CONSUMERS.

       ``(a) Definitions.--In this section--
       ``(1) the term `blocked file' means a file of a minor 
     consumer with respect to which, under this section, a 
     consumer reporting agency--
       ``(A) maintains with the name, social security number, date 
     of birth, and, if applicable, any credit information of the 
     minor consumer;
       ``(B) may not provide any person with a consumer report of 
     the minor consumer; and
       ``(C) blocks the input of any information, except with 
     permission from a covered guardian of the minor consumer;
       ``(2) the term `covered guardian' means--
       ``(A) the legal guardian of a minor child;
       ``(B) the custodian of a minor child; or
       ``(C) in the case of a child in foster care, the State 
     agency or Indian tribe or tribal organization responsible for 
     the foster care of the child; and
       ``(3) the term `minor consumer' means a consumer who has 
     not attained 16 years of age.
       ``(b) Blocking a File.--A consumer reporting agency that 
     compiles and maintains files on consumers on a nationwide 
     basis shall, upon request by, and receipt of appropriate 
     proof of identity of, a minor consumer or the covered 
     guardian of a minor consumer--
       ``(1) create a blocked file for the minor consumer; or
       ``(2) convert a file of the minor consumer already in 
     existence to a blocked file.
       ``(c) Unblocking a File.--A consumer reporting agency that 
     compiles and maintains files on consumers on a nationwide 
     basis shall unblock a blocked file--
       ``(1) upon request by the covered guardian of a minor 
     consumer;
       ``(2) if the file was blocked as a result of a material 
     misrepresentation, including a representation that--
       ``(A) the consumer was a minor consumer when the consumer 
     was not a minor consumer as of the date on which the 
     representation was made; and
       ``(B) an individual was the covered guardian of a minor 
     consumer when the individual was not the covered guardian of 
     the minor consumer as of the date on which the representation 
     was made;
       ``(3) on the date of the 16th birthday of the minor 
     consumer; or
       ``(4) if the minor consumer becomes emancipated under the 
     law of the State in which the minor consumer resides, on the 
     date of the emancipation of the minor consumer.
       ``(d) Regulations.--The Bureau shall promulgate regulations 
     to carry out this section.
       ``(e) Fees.--
       ``(1) In general.--A credit reporting agency may charge a 
     fair and reasonable fee, as determined by the Bureau, to 
     create a blocked file or to unblock a file.
       ``(2) Exemption.--The Bureau may exempt an individual who 
     suspects that the individual has been a victim of fraud or 
     identity theft from a fee described in paragraph (1).
       ``(f) Exceptions.--Nothing in this section may be construed 
     as requiring a consumer reporting agency that compiles and 
     maintains files on consumers on a nationwide basis to prevent 
     a Federal, State, or local law enforcement agency from 
     accessing a blocked file.''.
       (B) Table of contents amendment.--The table of contents of 
     the Fair Credit Reporting Act (15 U.S.C. 1681 et seq.) is 
     amended by inserting after the item relating to section 605B 
     the following:

``605C. Additional protections for credit reports of minor 
              consumers.''.
       (5) Study of a public credit reporting system.--
       (A) Study.--Not later than 180 days after the date of 
     enactment of this Act, the Comptroller General of the United 
     States shall conduct a study--
       (i) of credit systems in the international credit system 
     with government-administered consumer credit reporting 
     systems;
       (ii) of available information regarding the accuracy of 
     government-administered consumer credit reporting systems 
     that are in existence as of the date on which the Comptroller 
     General begins conducting the study;
       (iii) to evaluate the feasibility of a national, 
     government-administered consumer credit reporting system;
       (iv) of any consumer benefits that might reasonably be 
     expected to result from a government-administered consumer 
     credit reporting system; and
       (v) of any costs that might result from a government-
     administered consumer credit reporting system in the United 
     States.
       (B) Publication of findings.--Not later than 18 months 
     after the date of enactment of this Act, the Comptroller 
     General of the United States shall publish the findings of 
     the study conducted under subparagraph (A).
       (6) Effective date.--Except as otherwise provided in this 
     subsection and the amendments made by this subsection, this 
     subsection and the amendments made by this subsection shall 
     take effect on the date that is 180 days after the date of 
     enactment of this Act.

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