[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5332 Received in Senate (RDS)]
<DOC>
116th CONGRESS
2d Session
H. R. 5332
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
June 30, 2020
Received
_______________________________________________________________________
AN ACT
To amend the Fair Credit Reporting Act to ensure that consumer
reporting agencies are providing fair and accurate information
reporting in consumer reports, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE; TABLE OF CONTENTS.
(a) Short Title.--This Act may be cited as the ``Protecting Your
Credit Score Act of 2020''.
(b) Table of Contents.--The table of contents for this Act is as
follows:
Sec. 1. Short title; table of contents.
Sec. 2. Establishment of online consumer portal landing page for
consumer access to certain credit
information.
Sec. 3. Accuracy in consumer reports.
Sec. 4. Improved dispute process for consumer reporting agencies.
Sec. 5. Injunctive relief.
Sec. 6. Increased transparency.
Sec. 7. Consumer reporting agency registry.
Sec. 8. Authority of Bureau with respect to consumer reporting
agencies.
Sec. 9. Bureau standards for protecting nonpublic information.
Sec. 10. Report on data security risk assessments in examinations of
consumer reporting agencies.
Sec. 11. GAO study on the use of social security numbers.
SEC. 2. ESTABLISHMENT OF ONLINE CONSUMER PORTAL LANDING PAGE FOR
CONSUMER ACCESS TO CERTAIN CREDIT INFORMATION.
(a) In General.--Section 612(a)(1) of the Fair Credit Reporting Act
(15 U.S.C. 1681j(a)(1)) is amended by adding at the end the following:
``(D) Online consumer portal landing page.--
``(i) In general.--Not later than 1 year
after the date of enactment of this
subparagraph, each consumer reporting agency
described in section 603(p) shall jointly
develop an online consumer portal landing page
that gives each consumer unlimited free access
to--
``(I) the consumer report of the
consumer;
``(II) the means by which the
consumer may exercise the rights of the
consumer under subparagraph (E) and
section 604(e);
``(III) the ability to initiate a
dispute with the consumer reporting
agency regarding the accuracy or
completeness of any information in a
report in accordance with section
611(a) or 623(a)(8);
``(IV) the ability to place and
remove a security freeze on a consumer
report for free under section 605A(i)
and (j);
``(V) if the consumer reporting
agency offers a product to consumers to
prevent access to the consumer report
of the consumer for the purpose of
preventing identity theft, a disclosure
to the consumer regarding the
differences between that product and a
security freeze as defined under
section 605A(i) or (j);
``(VI) information on who has
accessed the consumer report of the
consumer over the last 24 months, and,
as available, for what permissible
purpose the consumer report was
furnished in accordance with section
604 and section 609; and
``(VII) the credit score of the
consumer in accordance with section
609(f)(7).
``(ii) No waiver.--A consumer reporting
agency described in section 603(p) may not
require a consumer to waive any legal or
privacy rights to access--
``(I) a portal established under
this subparagraph; or
``(II) any of the services
described in clause (i) that are
provided through a portal established
under this subparagraph.
``(iii) No advertising or solicitations.--A
portal established under this subparagraph may
not contain any advertising, marketing offers,
or other solicitations.
``(iv) Extension.--The Bureau may allow the
consumer reporting agencies an extension of 1
year to develop the online consumer portal
landing page required under clause (i).
``(v) Rule of construction.--Nothing in
this subparagraph may be construed as requiring
a consumer reporting agency to disclose
confidential proprietary information through
the online consumer portal landing page.
``(E) Opt-out option.--
``(i) In general.--If a consumer reporting
agency sells consumer information in a manner
that is not included in a consumer report, the
consumer reporting agency shall provide each
consumer with a method (through a website, by
phone, or in writing) by which the consumer may
elect, free of charge, to not have the
information of the consumer so sold.
``(ii) No expiration.--An election made by
a consumer under clause (i) shall expire on the
date on which the consumer expressly revokes
the election through a website, by phone, or in
writing.''.
(b) Conforming Amendment.--Section 612(f)(1) of the Fair Credit
Reporting Act (15 U.S.C. 1681j(f)(1)) is amended, in the matter
preceding subparagraph (A), by adding ``or that is made through the
online consumer portal landing page established under subsection
(a)(1)(D),'' after ``subsections (a) through (d),''.
SEC. 3. ACCURACY IN CONSUMER REPORTS.
Section 607(b) of the Fair Credit Reporting Act (15 U.S.C. 1681e)
is amended to read as follows:
``(b) Ensuring Accuracy.--
``(1) In general.--In preparing a consumer report, each
consumer reporting agency shall follow reasonable procedures to
assure maximum possible accuracy of the information concerning
the consumer to whom the report relates.
``(2) Matching information in a file.--In assuring the
maximum possible accuracy under paragraph (1), each consumer
reporting agency described in section 603(p) shall ensure that,
when including information in the file of a consumer, the
consumer reporting agency--
``(A) matches all 9 digits of the social security
number of the consumer with the information that the
consumer reporting agency is including in the file; or
``(B) if a consumer does not have a social security
number, matches information that includes the full
legal name, date of birth, current address, and at
least one former address of the consumer.
``(3) Periodic audits.--Each consumer reporting agency
shall perform periodic audits, on a schedule determined by the
Bureau, on a representative sample of consumer reports of the
agency to check for accuracy.''.
SEC. 4. IMPROVED DISPUTE PROCESS FOR CONSUMER REPORTING AGENCIES.
(a) Responsibilities of Furnishers of Information to Consumer
Reporting Agencies.--Section 623 of the Fair Credit Reporting Act (15
U.S.C. 1681s-2) is amended--
(1) in subsection (a)(8)--
(A) in subparagraph (E)(ii), by inserting ``and
consider'' after ``review''; and
(B) in subparagraph (F)--
(i) in clause (i)(II), by inserting ``, and
does not include any new or additional
information that would be relevant to a
reinvestigation'' before the period at the end;
and
(ii) by adding at the end the following new
clause:
``(iv) New or additional information.--For
purposes of clause (i)(II), the term `new or
additional information'--
``(I) means information of a type
designated by the Bureau; and
``(II) does not include information
previously provided to the person.'';
and
(2) in subsection (b)(1), by inserting ``and consider''
after ``review''.
(b) Bureau Credit Reporting Ombudsperson.--Section 611(a) of the
Fair Credit Reporting Act (15 U.S.C. 1681i(a)) is amended by adding at
the end the following:
``(8) Bureau credit reporting ombudsperson.--
``(A) In general.--Not later than 180 days after
the date of enactment of this paragraph, the Bureau
shall establish the position of credit reporting
ombudsperson, whose specific duties shall include
carrying out the Bureau's responsibilities with respect
to--
``(i) resolving persistent errors that are
not resolved in a timely manner by a consumer
reporting agency; and
``(ii) enhancing oversight of consumer
reporting agencies by--
``(I) advising the Director of the
Bureau, in consultation with the Office
of Enforcement and the Office of
Supervision of the Bureau, on any
potential violations of paragraph (5)
or any other applicable law by a
consumer reporting agency, including
appropriate corrective action for such
a violation; and
``(II) making referrals to the
Office of Supervision for supervisory
action or the Office of Enforcement for
enforcement action, as appropriate, in
response to violations of paragraph (5)
or any other applicable law by a
consumer reporting agency.
``(B) Report.--The ombudsperson shall submit to the
Committee on Financial Services of the House of
Representatives and the Committee on Banking, Housing,
and Urban Affairs of the Senate an annual report
including statistics and analysis on consumer
complaints the Bureau receives relating to consumer
reports, as well as a summary of the supervisory
actions and enforcement actions taken with respect to
consumer reporting agencies during the year covered by
the report.''.
(c) Responsibilities of Consumer Reporting Agencies.--Section 611
of the Fair Credit Reporting Act (15 U.S.C. 1681i) is amended--
(1) in subsection (a)--
(A) in paragraph (1), by adding at the end the
following:
``(D) Obligations of consumer reporting agencies
relating to reinvestigations.--Commensurate with the
volume and complexity of disputes about which a
consumer reporting agency receives notice, or
reasonably anticipates to receive notice, under this
paragraph, each consumer reporting agency shall--
``(i) maintain sufficient personnel to
conduct reinvestigations of those disputes; and
``(ii) provide training with respect to the
personnel described in clause (i).'';
(B) in paragraph (6)(B)--
(i) by amending clause (ii) to read as
follows:
``(ii) a copy of the consumer's file and a
consumer report that is based upon such file as
revised, including a description of the
specific modification or deletion of
information, as a result of the
reinvestigation;'';
(ii) by striking clause (iii) and
redesignating clauses (iv) and (v) as clauses
(vi) and (vii), respectively;
(iii) by inserting after clause (ii) the
following:
``(iii) a description of the actions taken
by the consumer reporting agency regarding the
dispute;
``(iv) if applicable, contact information
for any furnisher involved in responding to the
dispute and a description of the role played by
the furnisher in the reinvestigation process;
``(v) the options available to the consumer
if the consumer is dissatisfied with the result
of the reinvestigation, including--
``(I) submitting documents in
support of the dispute;
``(II) adding a consumer statement
of dispute to the file of the consumer
pursuant to subsection (b);
``(III) filing a dispute with the
furnisher pursuant to section
623(a)(8); and
``(IV) submitting a complaint
against the consumer reporting agency
or furnishers through the consumer
complaint database of the Bureau or the
State attorney general for the State in
which the consumer resides;'';
(C) by striking paragraph (7) and redesignating
paragraph (8) as paragraph (7); and
(D) in paragraph (7), as so redesignated, by
striking ``paragraphs (2), (6), and (7)'' and inserting
``paragraphs (2) and (6)''; and
(2) by adding at the end the following new subsection:
``(h) Notification of Deletion of Information.--A consumer
reporting agency described in section 603(p) shall communicate with
other consumer reporting agencies described in section 603(p) to ensure
that a dispute initiated with one consumer reporting agency is noted in
a file maintained by such other consumer reporting agencies.''.
SEC. 5. INJUNCTIVE RELIEF.
(a) In General.--The Fair Credit Reporting Act (15 U.S.C. 1681 et
seq.) is amended--
(1) in section 616 (15 U.S.C. 1681n)--
(A) in subsection (a), by amending the subsection
heading to read as follows: ``Damages'';
(B) by redesignating subsections (c) and (d) as
subsections (d) and (e), respectively; and
(C) 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) Attorney's fees.--In the event of any successful
action for injunctive relief under this subsection, a court may
award to the prevailing party reasonable attorney's fees (as
determined by the court) incurred by the prevailing party
during the action.''; and
(2) in section 617 (15 U.S.C. 1681o)--
(A) in subsection (a), in the subsection heading,
by striking ``(a) In General.--'' and inserting ``(a)
Damages.--'';
(B) by redesignating subsection (b) as subsection
(c); and
(C) 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) Attorney's fees.--In the event of any successful
action for injunctive relief under this subsection, a court may
award to the prevailing party reasonable attorney's fees (as
determined by the court) incurred by the prevailing party
during the action.''.
(b) Enforcement.--Section 615(h)(8) of the Fair Credit Reporting
Act (15 U.S.C. 1681m(h)(8)) is amended--
(1) in subparagraph (A), by striking ``section'' and
inserting ``subsection''; and
(2) in subparagraph (B), by striking ``This section'' and
inserting ``This subsection''.
SEC. 6. INCREASED TRANSPARENCY.
(a) Disclosures to Consumers.--Section 609 of the Fair Credit
Reporting Act (15 U.S.C. 1681g) is amended--
(1) in subsection (a)(3)(B)--
(A) in clause (i), by striking ``and'' at the end;
and
(B) by striking clause (ii) and inserting the
following:
``(ii) the address and telephone number of the
person; and
``(iii) the permissible purpose, as available, 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).'';
(2) in subsection (f)--
(A) by amending paragraph (7)(A) to read as
follows:
``(A) supply the consumer with a credit score
through the portal established under section
612(a)(1)(D) or upon request by the consumer, as
applicable, that--
``(i) is derived from a credit scoring
model that is widely distributed to users by
that 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
(B) 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) or through
the online consumer portal landing page established
under section 612(a)(1)(D)'' before the period at the
end; and
(3) in subsection (g)(1)--
(A) in subparagraph (A)(ii)--
(i) in the clause heading, by striking
``subparagraph (d)'' and inserting
``subparagraph (C)''; and
(ii) by striking ``subparagraph (D)'' and
inserting ``subparagraph (C)'';
(B) in subparagraph (B)(ii), by striking
``consistent with subparagraph (C)'';
(C) by striking subparagraph (C); and
(D) by redesignating subparagraphs (D) through (G)
as subparagraphs (C) through (F), respectively.
(b) Notification Requirements.--
(1) Adverse information notification.--
(A) In general.--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:
``(b) Free Disclosure After Notice of Adverse Action or Offer of
Credit on Materially Less Favorable Term.--Not later than 30 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 to a consumer, without charge to
the consumer, all disclosures that are made to a user of a consumer
report in accordance with the rules prescribed by the Bureau.''; and
(ii) in section 615(a) (15 U.S.C.
1681m(a))--
(I) by redesignating paragraphs
(2), (3), and (4) as paragraphs (3),
(4), and (5), respectively;
(II) 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
(III) 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''.
(B) Conforming amendment.--Section 604(b)(2)(B)(i)
of the Fair Credit Reporting Act (15 U.S.C.
1681b(b)(2)(B)(i)) is amended by striking ``section
615(a)(3)'' and inserting ``section 615(a)(4)''.
(2) Notification in cases of less favorable terms.--Section
615(h) of the Fair Credit Reporting Act (15 U.S.C. 1681m(h)) is
amended--
(A) in paragraph (1), by striking ``paragraph (6)''
and inserting ``paragraph (7)'';
(B) in paragraph (2), by striking ``paragraph (6)''
and inserting ``paragraph (7)'';
(C) in paragraph (5)(C), by striking ``may obtain''
and inserting ``shall receive'';
(D) by redesignating paragraphs (6), (7), and (8)
as paragraphs (7), (8), and (9), respectively; and
(E) 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).''.
(3) 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 ``with respect to'' and all that follows through the
period at the end and inserting ``without providing additional
notice to the consumer, unless another person acquires the
right to repayment connected to the additional negative
information. The acquiring person shall be subject to the
requirements of this paragraph and shall be required to send
consumers the written notices described in this paragraph, if
applicable.''.
SEC. 7. CONSUMER REPORTING AGENCY REGISTRY.
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 this subsection, the Bureau
shall establish a publicly available registry of consumer
reporting agencies that includes--
``(A) each consumer reporting agency that compiles
and maintains files on consumers on a nationwide basis;
``(B) each nationwide specialty consumer reporting
agency;
``(C) all other consumer reporting agencies that
are not included under section 603(p) or 603(x); and
``(D) links to any relevant websites of a consumer
reporting agency described under subparagraphs (A)
through (C).
``(2) Registration requirement.--The Bureau shall establish
a deadline, which shall be not later than 270 days after the
date of the enactment of this subsection, by which each
consumer reporting agency described in paragraph (1) shall be
required to register in the registry established under such
paragraph.''.
SEC. 8. AUTHORITY OF BUREAU WITH RESPECT TO CONSUMER REPORTING
AGENCIES.
Section 1024(a)(1) of the Dodd-Frank Wall Street Reform and
Consumer Protection Act (12 U.S.C. 5514(a)(1)) is amended--
(1) in subparagraph (D), by striking ``or'' at the end;
(2) in subparagraph (E), by striking the period at the end
and inserting ``; or''; and
(3) by adding at the end the following new subparagraph:
``(F) is a consumer reporting agency described
under section 603(p) of the Fair Credit Reporting
Act.''.
SEC. 9. BUREAU STANDARDS FOR PROTECTING NONPUBLIC INFORMATION.
Title V of the Gramm-Leach-Bliley Act (15 U.S.C. 6801 et seq.) is
amended--
(1) in section 501, by adding at the end the following new
subsection:
``(c) Consumer Reporting Agency Safeguards.--The Bureau of Consumer
Financial Protection shall establish, by rule, appropriate standards
for consumer reporting agencies described under section 603(p) of the
Fair Credit Reporting Act relating to administrative, technical, and
physical safeguards to protect records and information as described in
paragraphs (1) through (3) of subsection (b).'';
(2) in section 504(a)(1)(A), by striking ``, except that
the Bureau of Consumer Financial Protection shall not have
authority to prescribe regulations with respect to the
standards under section 501''; and
(3) in section 505(a)(8), by inserting ``, other than under
subsection (c) of section 501'' after ``section 501''.
SEC. 10. REPORT ON DATA SECURITY RISK ASSESSMENTS IN EXAMINATIONS OF
CONSUMER REPORTING AGENCIES.
Not later than 90 days after the date of the enactment of this Act,
the Director of the Bureau of Consumer Financial Protection shall
assess whether examinations conducted by the Director of consumer
reporting agencies described under section 603(f) of the Fair Credit
Reporting Act (15 U.S.C. 1681a(f)) include sufficient processes to
addresses any data security risks to the consumers of such agencies on
which such agencies maintain and compile files. Along with the first
semiannual report required under section 1016(b) of the Consumer
Financial Protection Act of 2010 (12 U.S.C. 5496(b)) to be submitted
after the 90-day period after the date of the enactment of this Act,
the Director shall submit to Congress a report containing the results
of such assessment that includes--
(1) recommendations for improving the processes to
addresses any such data security risks; and
(2) the progress of the Director on making any improvements
described under paragraph (1).
SEC. 11. GAO STUDY ON THE USE OF SOCIAL SECURITY NUMBERS.
(a) Study.--The Comptroller General of the United States shall
carry out a study on the feasibility and means of consumer reporting
agencies replacing the use of social security numbers as identifiers
with another type of Federal identification.
(b) Report.--Not later than the end of the 2-year period beginning
on the date of the enactment of this Act, the Comptroller General shall
issue a report to the Congress containing all findings and
determinations made in carrying out the study required under subsection
(a).
Passed the House of Representatives June 29, 2020.
Attest:
CHERYL L. JOHNSON,
Clerk.