[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3387 Introduced in House (IH)]







107th CONGRESS
  1st Session
                                H. R. 3387

  To amend the Fair Credit Reporting Act to extend the limitation on 
                    actions, and for other purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                           November 30, 2001

  Mr. Terry introduced the following bill; which was referred to the 
 Committee on Financial Services, and in addition to the Committee on 
   the Judiciary, for a period to be subsequently determined by the 
  Speaker, in each case for consideration of such provisions as fall 
           within the jurisdiction of the committee concerned

_______________________________________________________________________

                                 A BILL


 
  To amend the Fair Credit Reporting Act to extend the limitation on 
                    actions, 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.

    This Act may be cited as the ``Fair Credit Reporting Act 
Limitations on Actions Act of 2001''.

SEC. 2. EXTENSION OF LIMITATIONS ON ACTIONS.

    (a) In General.--Section 618 of the Fair Credit Reporting Act (15 
U.S.C. 1681p) is amended by striking ``within two years from the date 
on which the liability arises'' and inserting ``before the end of the 
3-year period beginning on the date by which the violation giving rise 
to the liability is discovered or reasonably should have been 
discovered by the consumer''.
    (b) Scope of Application.--The amendment made by this section shall 
apply with respect to all actions for which a final judgment has not 
been entered before the date of the enactment of this Act.
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