[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2546 Introduced in House (IH)]







108th CONGRESS
  1st Session
                                H. R. 2546

 To amend the Fair Credit Reporting Act to require consumer reporting 
  agencies to provide any consumer with a free credit report annually 
       upon the request of the consumer, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 19, 2003

 Mr. Sanders introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
 To amend the Fair Credit Reporting Act to require consumer reporting 
  agencies to provide any consumer with a free credit report annually 
       upon the request of the consumer, 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 ``Free Credit Report Act of 2003''.

SEC. 2. FREE CREDIT REPORT ANNUALLY UPON REQUEST OF CONSUMER.

    (a) In General.--Section 612 of the Fair Credit Reporting Act (15 
U.S.C. 1681j) is amended--
            (1) by redesignating subsections (c) and (d) as subsections 
        (d) and (e), respectively; and
            (2) by inserting after subsection (b) the following new 
        subsection:
    ``(c) Free Credit Report Annually Upon Request of Consumer.--Upon 
the request of any consumer, each consumer reporting agency shall make 
all disclosures pursuant to section 609 without charge to such consumer 
at least once each calendar year.''.
    (b) Credit Scores and Predictors Required To Be Included.--Section 
609(a)(1) of the Fair Credit Reporting Act (15 U.S.C. 1681g(a)(1)) is 
amended to read as follows:
            ``(1) All information in the consumer's file at the time of 
        the request, which shall include all of the following 
        information:
                    ``(A) The consumer's current credit score or the 
                consumer's most recent credit score that was previously 
                calculated by the credit reporting agency for a purpose 
                related to the extension of credit.
                    ``(B) The range of possible credit scores under the 
                model used.
                    ``(C) All the key factors that adversely affected 
                the consumer's credit score in the model used.
                    ``(D) The date the credit score was created.
                    ``(E) The name of the person or entity (if other 
                than the person or entity making the disclosure under 
                this subsection) that provided the credit score or 
                credit file on the basis of which the credit score was 
                created.
        This paragraph shall not be construed so as to compel a 
        consumer reporting agency to develop or disclose a score if the 
        agency does not distribute scores that are used in connection 
        with residential real property loans, or does not develop 
        scores that assist credit providers in understanding a 
        consumer's general credit behavior and predicting his or her 
        future credit behavior.''.
    (c) Technical and Conforming Amendment.--Section 612(a)(1) of the 
Fair Credit Reporting Act (15 U.S.C. 1681j(a)(1)) is amended by 
striking ``(c), and (d)'' and inserting ``(c), (d), and (e)''.
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