Restoring Unfairly Impaired Credit and Protecting Consumers Act

3.0.0 5180 2025-06-23T14:16:47Z 2025-06-23T14:16:47Z House H HR 2023-08-08 118 <pre>[Congressional Record Volume 169, Number 134 (Tuesday, August 8, 2023)][House]From the Congressional Record Online through the Government Publishing Office [<a href="https://www.gpo.gov">www.gpo.gov</a>]By Ms. TLAIB:H.R. 5180.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 1 of the Constitution.The single subject of this legislation is:This bill amends the Fair Credit Reporting act to restorethe impaired credit of victims of predatory activities andunfair consumer reporting practices, to expand access totools to protect vulnerable consumers from identity theft,fraud, or a related crime, and protect victims from furtherharm, and for other purposes.[Page H4172]</pre> hsba00 Financial Services Committee House Standing Referred To 2023-08-08T14:30:35Z 2023-08-08 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2023-08-08 Introduced in House IntroReferral Intro-H 9 Library of Congress 2023-08-08 Introduced in House IntroReferral 1000 9 Library of Congress T000481 Rep. Tlaib, Rashida [D-MI-12] Rashida Tlaib D MI 12 N J000298 Rep. Jayapal, Pramila [D-WA-7] Pramila Jayapal D WA 7 2023-08-15 False C001131 Rep. Casar, Greg [D-TX-35] Greg Casar D TX 35 2023-09-13 False C001061 Rep. Cleaver, Emanuel [D-MO-5] Emanuel Cleaver D MO 5 2023-09-21 False S001218 Rep. Stansbury, Melanie Ann [D-NM-1] Melanie Stansbury D NM Ann 1 2023-11-01 False Finance and Financial Sector Finance and Financial Sector 2023-09-01T15:30:24Z

00 2023-08-08 Introduced in House 2024-06-18T12:06:14Z Restoring Unfairly Impaired Credit and Protecting Consumers ActThis bill limits the adverse information allowed to be included on a consumer credit report, reduces the time period certain information remains on a report, and expands the availability of free credit reports.The bill prohibits medical debt from inclusion on a consumer credit report. In addition, it prohibits adverse credit information related to (1) unfair or fraudulent mortgage loans, (2) unfair or fraudulent private education loans, and (3) debt that is the result of financial abuse.Further, the bill reduces the time period certain adverse information is allowed to be included on a consumer credit report. This includes bankruptcy cases, tax liens that have been paid, accounts in collection, certain civil suits and judgements, criminal convictions, certain rehabilitated mortgage and private educational debt, and fully paid or settled debt.The bill expands free credit monitoring to include victims of fraud, data breaches, and identity theft; unemployed consumers; recipients of public welfare assistance; individuals 65 or older; and other classes as established by the Consumer Financial Protection Bureau (CFPB). Consumers must directly request free credit monitoring from the reporting agency and provide proof of identity. The CFPB must establish a fair and reasonable fee for credit reporting services for other consumers.The bill also establishes procedures for victims of financial abuse to provide documentation to consumer reporting agencies for removal of related adverse information.  The CFPB must create a standardized affidavit for consumers to report identity theft, fraud, or the unauthorized disclosure of sensitive information.

Restoring Unfairly Impaired Credit and Protecting Consumers Act Display Title 45 Restoring Unfairly Impaired Credit and Protecting Consumers Act 2024-07-24T15:20:36Z Short Title(s) as Introduced 101 Restoring Unfairly Impaired Credit and Protecting Consumers Act 2024-05-24T13:36:57Z Introduced in House IH Official Title as Introduced 6 To amend the Fair Credit Reporting act to restore the impaired credit of victims of predatory activities and unfair consumer reporting practices, to expand access to tools to protect vulnerable consumers from identity theft, fraud, or a related crime, and protect victims from further harm, and for other purposes. 2024-03-18T21:17:43Z Introduced in House IH Introduced in House 2023-08-08T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118hr5180ih/xml/BILLS-118hr5180ih.xml 2023-08-08 Referred to the House Committee on Financial Services. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.