[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5332 Reported in House (RH)]

<DOC>





                                                 Union Calendar No. 335
116th CONGRESS
  2d Session
                                H. R. 5332

                          [Report No. 116-416]

    To amend the Fair Credit Reporting Act to ensure that consumer 
    reporting agencies are providing fair and accurate information 
         reporting in consumer reports, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            December 6, 2019

  Mr. Gottheimer (for himself and Mr. Reed) introduced the following 
    bill; which was referred to the Committee on Financial Services

                             March 12, 2020

  Reported with an amendment; committed to the Committee of the Whole 
       House on the State of the Union and ordered to be printed
 [Strike out all after the enacting clause and insert the part printed 
                               in italic]
    [For text of introduced bill, see copy of bill as introduced on 
                           December 6, 2019]


_______________________________________________________________________

                                 A BILL


 
    To amend the Fair Credit Reporting Act to ensure that consumer 
    reporting agencies are providing fair and accurate information 
         reporting in consumer reports, 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; TABLE OF CONTENTS.

    (a) Short Title.--This Act may be cited as the ``Protecting Your 
Credit Score Act of 2019''.
    (b) Table of Contents.--The table of contents for this Act is as 
follows:

Sec. 1. Short title; table of contents.
Sec. 2. Establishment of online consumer portal landing page for 
                            consumer access to certain credit 
                            information.
Sec. 3. Accuracy in consumer reports.
Sec. 4. Improved dispute process for consumer reporting agencies.
Sec. 5. Injunctive relief.
Sec. 6. Increased transparency.
Sec. 7. Consumer reporting agency registry.
Sec. 8. Authority of Bureau with respect to consumer reporting 
                            agencies.
Sec. 9. Bureau standards for protecting nonpublic information.
Sec. 10. Report on data security risk assessments in examinations of 
                            consumer reporting agencies.
Sec. 11. GAO study on the use of social security numbers.

SEC. 2. ESTABLISHMENT OF ONLINE CONSUMER PORTAL LANDING PAGE FOR 
              CONSUMER ACCESS TO CERTAIN CREDIT INFORMATION.

    (a) In General.--Section 612(a)(1) of the Fair Credit Reporting Act 
(15 U.S.C. 1681j(a)(1)) is amended by adding at the end the following:
                    ``(D) Online consumer portal landing page.--
                            ``(i) In general.--Not later than 1 year 
                        after the date of enactment of this 
                        subparagraph, each consumer reporting agency 
                        described in section 603(p) shall jointly 
                        develop an online consumer portal landing page 
                        that gives each consumer unlimited free access 
                        to--
                                    ``(I) the consumer report of the 
                                consumer;
                                    ``(II) the means by which the 
                                consumer may exercise the rights of the 
                                consumer under subparagraph (E) and 
                                section 604(e);
                                    ``(III) the ability to initiate a 
                                dispute with the consumer reporting 
                                agency regarding the accuracy or 
                                completeness of any information in a 
                                report in accordance with section 
                                611(a) or 623(a)(8);
                                    ``(IV) the ability to place and 
                                remove a security freeze on a consumer 
                                report for free under section 605A(i) 
                                and (j);
                                    ``(V) if the consumer reporting 
                                agency offers a product to consumers to 
                                prevent access to the consumer report 
                                of the consumer for the purpose of 
                                preventing identity theft, a disclosure 
                                to the consumer regarding the 
                                differences between that product and a 
                                security freeze as defined under 
                                section 605A(i) or (j);
                                    ``(VI) information on who has 
                                accessed the consumer report of the 
                                consumer over the last 24 months, and, 
                                as available, for what permissible 
                                purpose the consumer report was 
                                furnished in accordance with section 
                                604 and section 609; and
                                    ``(VII) the credit score of the 
                                consumer in accordance with section 
                                609(f)(7).
                            ``(ii) No waiver.--A consumer reporting 
                        agency described in section 603(p) may not 
                        require a consumer to waive any legal or 
                        privacy rights to access--
                                    ``(I) a portal established under 
                                this subparagraph; or
                                    ``(II) any of the services 
                                described in clause (i) that are 
                                provided through a portal established 
                                under this subparagraph.
                            ``(iii) No advertising or solicitations.--A 
                        portal established under this subparagraph may 
                        not contain any advertising, marketing offers, 
                        or other solicitations.
                            ``(iv) Extension.--The Bureau may allow the 
                        consumer reporting agencies an extension of 1 
                        year to develop the online consumer portal 
                        landing page required under clause (i).
                            ``(v) Rule of construction.--Nothing in 
                        this subparagraph may be construed as requiring 
                        a consumer reporting agency to disclose 
                        confidential proprietary information through 
                        the online consumer portal landing page.
                    ``(E) Opt-out option.--
                            ``(i) In general.--If a consumer reporting 
                        agency sells consumer information in a manner 
                        that is not included in a consumer report, the 
                        consumer reporting agency shall provide each 
                        consumer with a method (through a website, by 
                        phone, or in writing) by which the consumer may 
                        elect, free of charge, to not have the 
                        information of the consumer so sold.
                            ``(ii) No expiration.--An election made by 
                        a consumer under clause (i) shall expire on the 
                        date on which the consumer expressly revokes 
                        the election through a website, by phone, or in 
                        writing.''.
    (b) Conforming Amendment.--Section 612(f)(1) of the Fair Credit 
Reporting Act (15 U.S.C. 1681j(f)(1)) is amended, in the matter 
preceding subparagraph (A), by adding ``or that is made through the 
online consumer portal landing page established under subsection 
(a)(1)(D),'' after ``subsections (a) through (d),''.

SEC. 3. ACCURACY IN CONSUMER REPORTS.

    Section 607(b) of the Fair Credit Reporting Act (15 U.S.C. 1681e) 
is amended to read as follows:
    ``(b) Ensuring Accuracy.--
            ``(1) In general.--In preparing a consumer report, each 
        consumer reporting agency shall follow reasonable procedures to 
        assure maximum possible accuracy of the information concerning 
        the consumer to whom the report relates.
            ``(2) Matching information in a file.--In assuring the 
        maximum possible accuracy under paragraph (1), each consumer 
        reporting agency described in section 603(p) shall ensure that, 
        when including information in the file of a consumer, the 
        consumer reporting agency--
                    ``(A) matches all 9 digits of the social security 
                number of the consumer with the information that the 
                consumer reporting agency is including in the file; or
                    ``(B) if a consumer does not have a social security 
                number, matches information that includes the full 
                legal name, date of birth, current address, and at 
                least one former address of the consumer.
            ``(3) Periodic audits.--Each consumer reporting agency 
        shall perform periodic audits, on a schedule determined by the 
        Bureau, on a representative sample of consumer reports of the 
        agency to check for accuracy.''.

SEC. 4. IMPROVED DISPUTE PROCESS FOR CONSUMER REPORTING AGENCIES.

    (a) Responsibilities of Furnishers of Information to Consumer 
Reporting Agencies.--Section 623 of the Fair Credit Reporting Act (15 
U.S.C. 1681s-2) is amended--
            (1) in subsection (a)(8)--
                    (A) in subparagraph (E)(ii), by inserting ``and 
                consider'' after ``review''; and
                    (B) in subparagraph (F)--
                            (i) in clause (i)(II), by inserting ``, and 
                        does not include any new or additional 
                        information that would be relevant to a 
                        reinvestigation'' before the period at the end; 
                        and
                            (ii) by adding at the end the following new 
                        clause:
                            ``(iv) New or additional information.--For 
                        purposes of clause (i)(II), the term `new or 
                        additional information'--
                                    ``(I) means information of a type 
                                designated by the Bureau; and
                                    ``(II) does not include information 
                                previously provided to the person.''; 
                                and
            (2) in subsection (b)(1), by inserting ``and consider'' 
        after ``review''.
    (b) Bureau Credit Reporting Ombudsperson.--Section 611(a) of the 
Fair Credit Reporting Act (15 U.S.C. 1681i(a)) is amended by adding at 
the end the following:
            ``(8) Bureau credit reporting ombudsperson.--
                    ``(A) In general.--Not later than 180 days after 
                the date of enactment of this paragraph, the Bureau 
                shall establish the position of credit reporting 
                ombudsperson, whose specific duties shall include 
                carrying out the Bureau's responsibilities with respect 
                to--
                            ``(i) resolving persistent errors that are 
                        not resolved in a timely manner by a consumer 
                        reporting agency; and
                            ``(ii) enhancing oversight of consumer 
                        reporting agencies by--
                                    ``(I) advising the Director of the 
                                Bureau, in consultation with the Office 
                                of Enforcement and the Office of 
                                Supervision of the Bureau, on any 
                                potential violations of paragraph (5) 
                                or any other applicable law by a 
                                consumer reporting agency, including 
                                appropriate corrective action for such 
                                a violation; and
                                    ``(II) making referrals to the 
                                Office of Supervision for supervisory 
                                action or the Office of Enforcement for 
                                enforcement action, as appropriate, in 
                                response to violations of paragraph (5) 
                                or any other applicable law by a 
                                consumer reporting agency.
                    ``(B) Report.--The ombudsperson shall submit to the 
                Committee on Financial Services of the House of 
                Representatives and the Committee on Banking, Housing, 
                and Urban Affairs of the Senate an annual report 
                including statistics and analysis on consumer 
                complaints the Bureau receives relating to consumer 
                reports, as well as a summary of the supervisory 
                actions and enforcement actions taken with respect to 
                consumer reporting agencies during the year covered by 
                the report.''.
    (c) Responsibilities of Consumer Reporting Agencies.--Section 611 
of the Fair Credit Reporting Act (15 U.S.C. 1681i) is amended--
            (1) in subsection (a)--
                    (A) in paragraph (1), by adding at the end the 
                following:
                    ``(D) Obligations of consumer reporting agencies 
                relating to reinvestigations.--Commensurate with the 
                volume and complexity of disputes about which a 
                consumer reporting agency receives notice, or 
                reasonably anticipates to receive notice, under this 
                paragraph, each consumer reporting agency shall--
                            ``(i) maintain sufficient personnel to 
                        conduct reinvestigations of those disputes; and
                            ``(ii) provide training with respect to the 
                        personnel described in clause (i).'';
                    (B) in paragraph (6)(B)--
                            (i) by amending clause (ii) to read as 
                        follows:
                            ``(ii) a copy of the consumer's file and a 
                        consumer report that is based upon such file as 
                        revised, including a description of the 
                        specific modification or deletion of 
                        information, as a result of the 
                        reinvestigation;'';
                            (ii) by striking clause (iii) and 
                        redesignating clauses (iv) and (v) as clauses 
                        (vi) and (vii), respectively;
                            (iii) by inserting after clause (ii) the 
                        following:
                            ``(iii) a description of the actions taken 
                        by the consumer reporting agency regarding the 
                        dispute;
                            ``(iv) if applicable, contact information 
                        for any furnisher involved in responding to the 
                        dispute and a description of the role played by 
                        the furnisher in the reinvestigation process;
                            ``(v) the options available to the consumer 
                        if the consumer is dissatisfied with the result 
                        of the reinvestigation, including--
                                    ``(I) submitting documents in 
                                support of the dispute;
                                    ``(II) adding a consumer statement 
                                of dispute to the file of the consumer 
                                pursuant to subsection (b);
                                    ``(III) filing a dispute with the 
                                furnisher pursuant to section 
                                623(a)(8); and
                                    ``(IV) submitting a complaint 
                                against the consumer reporting agency 
                                or furnishers through the consumer 
                                complaint database of the Bureau or the 
                                State attorney general for the State in 
                                which the consumer resides;'';
                    (C) by striking paragraph (7) and redesignating 
                paragraph (8) as paragraph (7); and
                    (D) in paragraph (7), as so redesignated, by 
                striking ``paragraphs (2), (6), and (7)'' and inserting 
                ``paragraphs (2) and (6)''; and
            (2) by adding at the end the following new subsection:
    ``(h) Notification of Deletion of Information.--A consumer 
reporting agency described in section 603(p) shall communicate with 
other consumer reporting agencies described in section 603(p) to ensure 
that a dispute initiated with one consumer reporting agency is noted in 
a file maintained by such other consumer reporting agencies.''.

SEC. 5. INJUNCTIVE RELIEF.

    (a) In General.--The Fair Credit Reporting Act (15 U.S.C. 1681 et 
seq.) is amended--
            (1) in section 616 (15 U.S.C. 1681n)--
                    (A) in subsection (a), by amending the subsection 
                heading to read as follows: ``Damages'';
                    (B) by redesignating subsections (c) and (d) as 
                subsections (d) and (e), respectively; and
                    (C) by inserting after subsection (b) the 
                following:
    ``(c) Injunctive Relief.--
            ``(1) In general.--In addition to any other remedy under 
        this section, a court may award injunctive relief to require 
        compliance with the requirements imposed under this title with 
        respect to any consumer.
            ``(2) Attorney's fees.--In the event of any successful 
        action for injunctive relief under this subsection, a court may 
        award to the prevailing party reasonable attorney's fees (as 
        determined by the court) incurred by the prevailing party 
        during the action.''; and
            (2) in section 617 (15 U.S.C. 1681o)--
                    (A) in subsection (a), in the subsection heading, 
                by striking ``(a) In General.--'' and inserting ``(a) 
                Damages.--'';
                    (B) by redesignating subsection (b) as subsection 
                (c); and
                    (C) by inserting after subsection (a) the 
                following:
    ``(b) Injunctive Relief.--
            ``(1) In general.--In addition to any other remedy under 
        this section, a court may award injunctive relief to require 
        compliance with the requirements imposed under this title with 
        respect to any consumer.
            ``(2) Attorney's fees.--In the event of any successful 
        action for injunctive relief under this subsection, a court may 
        award to the prevailing party reasonable attorney's fees (as 
        determined by the court) incurred by the prevailing party 
        during the action.''.
    (b) Enforcement.--Section 615(h)(8) of the Fair Credit Reporting 
Act (15 U.S.C. 1681m(h)(8)) is amended--
            (1) in subparagraph (A), by striking ``section'' and 
        inserting ``subsection''; and
            (2) in subparagraph (B), by striking ``This section'' and 
        inserting ``This subsection''.

SEC. 6. INCREASED TRANSPARENCY.

    (a) Disclosures to Consumers.--Section 609 of the Fair Credit 
Reporting Act (15 U.S.C. 1681g) is amended--
            (1) in subsection (a)(3)(B)--
                    (A) in clause (i), by striking ``and'' at the end; 
                and
                    (B) by striking clause (ii) and inserting the 
                following:
                    ``(ii) the address and telephone number of the 
                person; and
                    ``(iii) the permissible purpose, as available, of 
                the person for obtaining the consumer report, including 
                the specific type of credit product that is extended, 
                reviewed, or collected, as described in section 
                604(a)(3)(A).'';
            (2) in subsection (f)--
                    (A) by amending paragraph (7)(A) to read as 
                follows:
                    ``(A) supply the consumer with a credit score 
                through the portal established under section 
                612(a)(1)(D) or upon request by the consumer, as 
                applicable, that--
                            ``(i) is derived from a credit scoring 
                        model that is widely distributed to users by 
                        that consumer reporting agency for the purpose 
                        of any extension of credit or other transaction 
                        designated by the consumer who is requesting 
                        the credit score; or
                            ``(ii) is widely distributed to lenders of 
                        common consumer loan products and predicts the 
                        future credit behavior of the consumer; and''; 
                        and
                    (B) in paragraph (8), by inserting ``, except that 
                a credit score shall be provided free of charge to the 
                consumer if requested in connection with a free annual 
                consumer report described in section 612(a) or through 
                the online consumer portal landing page established 
                under section 612(a)(1)(D)'' before the period at the 
                end; and
            (3) in subsection (g)(1)--
                    (A) in subparagraph (A)(ii)--
                            (i) in the clause heading, by striking 
                        ``subparagraph (d)'' and inserting 
                        ``subparagraph (C)''; and
                            (ii) by striking ``subparagraph (D)'' and 
                        inserting ``subparagraph (C)'';
                    (B) in subparagraph (B)(ii), by striking 
                ``consistent with subparagraph (C)'';
                    (C) by striking subparagraph (C); and
                    (D) by redesignating subparagraphs (D) through (G) 
                as subparagraphs (C) through (F), respectively.
    (b) Notification Requirements.--
            (1) Adverse information notification.--
                    (A) In general.--The Fair Credit Reporting Act (15 
                U.S.C. 1681 et seq.) is amended--
                            (i) in section 612 (15 U.S.C. 1681j), by 
                        striking subsection (b) and inserting the 
                        following:
    ``(b) Free Disclosure After Notice of Adverse Action or Offer of 
Credit on Materially Less Favorable Term.--Not later than 30 days after 
the date on which a consumer reporting agency receives a notification 
under subsection (a)(2) or (h)(6) of section 615, or from a debt 
collection agency affiliated with the consumer reporting agency, the 
consumer reporting agency shall make to a consumer, without charge to 
the consumer, all disclosures that are made to a user of a consumer 
report in accordance with the rules prescribed by the Bureau.''; and
                            (ii) in section 615(a) (15 U.S.C. 
                        1681m(a))--
                                    (I) by redesignating paragraphs 
                                (2), (3), and (4) as paragraphs (3), 
                                (4), and (5), respectively;
                                    (II) by inserting after paragraph 
                                (1) the following:
            ``(2) direct the consumer reporting agency that provided 
        the consumer report that was used in the decision to take the 
        adverse action to provide the consumer with the disclosures 
        described in section 612(b);''; and
                                    (III) in paragraph (5), as so 
                                redesignated--
                                            (aa) in the matter 
                                        preceding subparagraph (A), by 
                                        striking ``of the consumer's 
                                        right'';
                                            (bb) by striking 
                                        subparagraph (A) and inserting 
                                        the following:
                    ``(A) that the consumer shall receive a copy of the 
                consumer report with respect to the consumer, free of 
                charge, from the consumer reporting agency that 
                furnished the consumer report; and''; and
                                            (cc) in subparagraph (B), 
                                        by inserting ``of the right of 
                                        the consumer'' before ``to 
                                        dispute''.
                    (B) Conforming amendment.--Section 604(b)(2)(B)(i) 
                of the Fair Credit Reporting Act (15 U.S.C. 
                1681b(b)(2)(B)(i)) is amended by striking ``section 
                615(a)(3)'' and inserting ``section 615(a)(4)''.
            (2) Notification in cases of less favorable terms.--Section 
        615(h) of the Fair Credit Reporting Act (15 U.S.C. 1681m(h)) is 
        amended--
                    (A) in paragraph (1), by striking ``paragraph (6)'' 
                and inserting ``paragraph (7)'';
                    (B) in paragraph (2), by striking ``paragraph (6)'' 
                and inserting ``paragraph (7)'';
                    (C) in paragraph (5)(C), by striking ``may obtain'' 
                and inserting ``shall receive'';
                    (D) by redesignating paragraphs (6), (7), and (8) 
                as paragraphs (7), (8), and (9), respectively; and
                    (E) by inserting after paragraph (5) the following:
            ``(6) Reports provided to consumers.--A person who uses a 
        consumer report as described in paragraph (1) shall notify and 
        direct the consumer reporting agency that provided the consumer 
        report to provide the consumer with the disclosures described 
        in section 612(b).''.
            (3) Notification of subsequent submissions of negative 
        information.--Section 623(a)(7)(A)(ii) of the Fair Credit 
        Reporting Act (15 U.S.C. 1681s-2(a)(7)(A)(ii)) is amended by 
        striking ``with respect to'' and all that follows through the 
        period at the end and inserting ``without providing additional 
        notice to the consumer, unless another person acquires the 
        right to repayment connected to the additional negative 
        information. The acquiring person shall be subject to the 
        requirements of this paragraph and shall be required to send 
        consumers the written notices described in this paragraph, if 
        applicable.''.

SEC. 7. CONSUMER REPORTING AGENCY REGISTRY.

    Section 621 of the Fair Credit Reporting Act (15 U.S.C. 1681s) is 
amended by adding at the end the following:
    ``(h) Consumer Reporting Agency Registry.--
            ``(1) Establishment of registry.--Not later than 180 days 
        after the date of enactment of this subsection, the Bureau 
        shall establish a publicly available registry of consumer 
        reporting agencies that includes--
                    ``(A) each consumer reporting agency that compiles 
                and maintains files on consumers on a nationwide basis;
                    ``(B) each nationwide specialty consumer reporting 
                agency;
                    ``(C) all other consumer reporting agencies that 
                are not included under section 603(p) or 603(x); and
                    ``(D) links to any relevant websites of a consumer 
                reporting agency described under subparagraphs (A) 
                through (C).
            ``(2) Registration requirement.--The Bureau shall establish 
        a deadline, which shall be not later than 270 days after the 
        date of the enactment of this subsection, by which each 
        consumer reporting agency described in paragraph (1) shall be 
        required to register in the registry established under such 
        paragraph.''.

SEC. 8. AUTHORITY OF BUREAU WITH RESPECT TO CONSUMER REPORTING 
              AGENCIES.

    Section 1024(a)(1) of the Dodd-Frank Wall Street Reform and 
Consumer Protection Act (12 U.S.C. 5514(a)(1)) is amended--
            (1) in subparagraph (D), by striking ``or'' at the end;
            (2) in subparagraph (E), by striking the period at the end 
        and inserting ``; or''; and
            (3) by adding at the end the following new subparagraph:
                    ``(F) is a consumer reporting agency described 
                under section 603(p) of the Fair Credit Reporting 
                Act.''.

SEC. 9. BUREAU STANDARDS FOR PROTECTING NONPUBLIC INFORMATION.

    Title V of the Gramm-Leach-Bliley Act (15 U.S.C. 6801 et seq.) is 
amended--
            (1) in section 501, by adding at the end the following new 
        subsection:
    ``(c) Consumer Reporting Agency Safeguards.--The Bureau of Consumer 
Financial Protection shall establish, by rule, appropriate standards 
for consumer reporting agencies described under section 603(p) of the 
Fair Credit Reporting Act relating to administrative, technical, and 
physical safeguards to protect records and information as described in 
paragraphs (1) through (3) of subsection (b).'';
            (2) in section 504(a)(1)(A), by striking ``, except that 
        the Bureau of Consumer Financial Protection shall not have 
        authority to prescribe regulations with respect to the 
        standards under section 501''; and
            (3) in section 505(a)(8), by inserting ``, other than under 
        subsection (c) of section 501'' after ``section 501''.

SEC. 10. REPORT ON DATA SECURITY RISK ASSESSMENTS IN EXAMINATIONS OF 
              CONSUMER REPORTING AGENCIES.

    Not later than 90 days after the date of the enactment of this Act, 
the Director of the Bureau of Consumer Financial Protection shall 
assess whether examinations conducted by the Director of consumer 
reporting agencies described under section 603(f) of the Fair Credit 
Reporting Act (15 U.S.C. 1681a(f)) include sufficient processes to 
addresses any data security risks to the consumers of such agencies on 
which such agencies maintain and compile files. Along with the first 
semiannual report required under section 1016(b) of the Consumer 
Financial Protection Act of 2010 (12 U.S.C. 5496(b)) to be submitted 
after the 90-day period after the date of the enactment of this Act, 
the Director shall submit to Congress a report containing the results 
of such assessment that includes--
            (1) recommendations for improving the processes to 
        addresses any such data security risks; and
            (2) the progress of the Director on making any improvements 
        described under paragraph (1).

SEC. 11. GAO STUDY ON THE USE OF SOCIAL SECURITY NUMBERS.

    (a) Study.--The Comptroller General of the United States shall 
carry out a study on the feasibility and means of consumer reporting 
agencies replacing the use of social security numbers as identifiers 
with another type of Federal identification.
    (b) Report.--Not later than the end of the 2-year period beginning 
on the date of the enactment of this Act, the Comptroller General shall 
issue a report to the Congress containing all findings and 
determinations made in carrying out the study required under subsection 
(a).
                                                 Union Calendar No. 335

116th CONGRESS

  2d Session

                               H. R. 5332

                          [Report No. 116-416]

_______________________________________________________________________

                                 A BILL

    To amend the Fair Credit Reporting Act to ensure that consumer 
    reporting agencies are providing fair and accurate information 
         reporting in consumer reports, and for other purposes.

_______________________________________________________________________

                             March 12, 2020

  Reported with an amendment; committed to the Committee of the Whole 
       House on the State of the Union and ordered to be printed