[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2374 Introduced in House (IH)]

111th CONGRESS
  1st Session
                                H. R. 2374

To amend the Fair Credit Reporting Act to make credit scores available 
 to consumers once each year free of charge and to allow consumers to 
see the credit score used in connection with any particular lending or 
                credit decision, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 12, 2009

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

_______________________________________________________________________

                                 A BILL


 
To amend the Fair Credit Reporting Act to make credit scores available 
 to consumers once each year free of charge and to allow consumers to 
see the credit score used in connection with any particular lending or 
                credit decision, 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 ``Credit Score Fairness Act of 2009''.

SEC. 2. CREDIT SCORES.

    (a) Free Annual Disclosure.--Section 609(f) of the Fair Credit 
Reporting Act (U.S.C. 1681g) is amended by striking paragraph (8) and 
inserting the following new paragraph:
            ``(8) Cost of disclosure.--
                    ``(A) Free annual disclosure.--Each consumer 
                reporting agency shall make all the information 
                required under this subsection with respect to any 
                consumer available to the consumer, upon request, once 
                during any 12-month period without charge.
                    ``(B) Fair and reasonable fee.--After providing 1 
                free credit score under subparagraph (A) to any 
                consumer during any 12-month period, a consumer 
                reporting agency may charge such consumer a fair and 
                reasonable fee, as determined by the Commission, for 
                providing the information required under this 
                subsection to the consumer during such period.''.
    (b) Disclosure of Credit Score Used in Making Any Consumer Credit 
Decision.--Section 609 of the Fair Credit Reporting Act (U.S.C. 1681g) 
is amended by adding at the end the following new subsection:
    ``(h) Disclosure of Consumer Credit Scores by Certain Other 
Creditors.--
            ``(1) In general.--Each creditor which extends credit to 
        consumers, other than a creditor to which subsection (g) 
        applies with respect to credit described in paragraph (1) of 
        such subsection, shall provide the following to any consumer as 
        soon as reasonably practicable:
                    ``(A) Information required under subsection (f).--A 
                copy of any information identified in subsection (f) 
                that was obtained from a consumer reporting agency or 
                was developed and used by the user of the information 
                in making any determination with respect to extending 
                credit to the consumer, including any consumer-specific 
                determination to solicit or provide an application to 
                such consumer, whether or not such credit was ever 
                extended or any open end consumer credit plan was ever 
                opened under which such credit would be, or would have 
                been, extended.
                    ``(B) Disclosures of credit scores not obtained 
                from a consumer reporting agency.--A creditor which is 
                subject to the requirements of this subsection and uses 
                a credit score, other than a credit score provided by a 
                consumer reporting agency, may satisfy the obligation 
                to provide a credit score by disclosing a credit score 
                and associated key factors supplied by a consumer 
                reporting agency.
            ``(2) Actions not required under this subsection.--This 
        subsection shall not require any person to--
                    ``(A) explain the information provided pursuant to 
                subsection (f) of this section;
                    ``(B) disclose any information other than a credit 
                score or key factors, as defined in subsection (f);
                    ``(C) disclose any credit score or related 
                information obtained by the creditor after the consumer 
                credit transaction has been consummated;
                    ``(D) provide more than 1 disclosure per credit 
                transaction; or
                    ``(E) provide the disclosure required by this 
                subsection when another person has made the disclosure 
                to the consumer for that loan transaction.
            ``(3) No obligation for content.--
                    ``(A) In general.--The obligation of any person 
                pursuant to this subsection shall be limited solely to 
                providing a copy of the information that was received 
                from the consumer reporting agency.
                    ``(B) Limit on liability.--No person shall be 
                liable under this subsection for the content of that 
                information or for the omission of any information 
                within the report provided by the consumer reporting 
                agency.
            ``(4) No cost to consumer.--The information required to be 
        disclosed under this subsection shall be provided without 
        charge to the consumer.''.
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