H.R.5743 - Protecting Homeowners' Credit History Act of 2010111th Congress (2009-2010)
|Sponsor:||Rep. Speier, Jackie [D-CA-12] (Introduced 07/15/2010)|
|Committees:||House - Financial Services|
|Latest Action:||07/15/2010 Referred to the House Committee on Financial Services. (All Actions)|
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Subject — Policy Area:
- Finance and Financial Sector
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Summary: H.R.5743 — 111th Congress (2009-2010)All Bill Information (Except Text)
Introduced in House (07/15/2010)
Protecting Homeowners' Credit History Act of 2010 - Amends the Fair Credit Reporting Act to prohibit a person from furnishing to a consumer reporting agency any negative information resulting from the modification of the terms of a consumer loan secured by one to four units of residential real property, including any agreement to reduce the amount of the payments for the loan or to reduce the principal amount of such loan.
Prohibits a person, in calculating any consumer's credit score, from producing a less favorable credit score on the basis of any information resulting from the modification of the terms of a consumer loan secured by one to four units of residential real property, including any such agreement as well.