[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4538 Introduced in House (IH)]

111th CONGRESS
  2d Session
                                H. R. 4538

  To amend the Fair Credit Reporting Act to require the inclusion of 
 credit scores with free annual credit reports provided to consumers, 
                        and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 27, 2010

Mr. Cohen (for himself, Mr. Thompson of Mississippi, Mr. Gutierrez, Mr. 
 Nadler of New York, Mr. Butterfield, Mr. Carson of Indiana, Mr. Clay, 
 Mr. Delahunt, Mr. Doggett, Ms. Kaptur, Mr. McDermott, Mr. Rangel, Mr. 
Stark, Mr. Towns, Ms. Velazquez, and Mr. Watt) introduced the following 
    bill; which was referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
  To amend the Fair Credit Reporting Act to require the inclusion of 
 credit scores with free annual credit reports provided to consumers, 
                        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 Access to Credit Scores Act of 
2010''.

SEC. 2. CREDIT SCORES INCLUDED IN FREE ANNUAL DISCLOSURES.

    Section 609 of the Fair Credit Reporting Act (15 U.S.C. 1681g) is 
amended--
            (1) in subsection (a)(1), by adding at the end the 
        following flush sentence:
        ``Notwithstanding subparagraph (B), all consumer reporting 
        agencies described in section 603(p) shall disclose any 
        information in the consumer's file at the time of the request 
        concerning credit scores or any other risk scores or predictors 
        relating to the consumer if such request is made in connection 
        with a free annual disclosure made pursuant to section 
        612(a).''; and
            (2) in subsection (f), by amending paragraph (6) to read as 
        follows:
            ``(6) Maintenance of credit scores.--All consumer reporting 
        agencies described in section 603(p) shall maintain information 
        in the consumer's file concerning credit scores or any other 
        risk scores or predictors relating to the consumer for a period 
        of no less than 1 year from the date on which such information 
        is placed in the consumer's file.''.

SEC. 3. BANKRUPTCY RISK SCORE STUDY.

    (a) GAO Study.--The Comptroller General of the United States shall 
carry out a study of bankruptcy risk scores used by consumer reporting 
agencies. Such study shall include an analysis of--
            (1) the factors used to determine bankruptcy risk scores;
            (2) how bankruptcy risk scores impact the ability of 
        consumers to receive loans;
            (3) actions that consumers can take to improve their 
        bankruptcy risk score; and
            (4) such other factors as the Comptroller General 
        determines to be appropriate.
    (b) Report.--Not later than the end of the 6-month period beginning 
on the date of the enactment of this Act, the Comptroller General shall 
submit a report to the Congress containing all findings and 
determinations made in carrying out the study required under subsection 
(a).
    (c) Bankruptcy Risk Score Defined.--For purposes of this section, 
the term ``bankruptcy risk score'' means a numerical value or a 
categorization derived from a statistical tool or modeling system used 
to predict the likelihood of whether a consumer will file for 
bankruptcy.
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