[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5180 Introduced in House (IH)]

<DOC>






118th CONGRESS
  1st Session
                                H. R. 5180

 To amend the Fair Credit Reporting act to restore the impaired credit 
   of victims of predatory activities and unfair consumer reporting 
 practices, to expand access to tools to protect vulnerable consumers 
  from identity theft, fraud, or a related crime, and protect victims 
               from further harm, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             August 8, 2023

  Ms. Tlaib introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
 To amend the Fair Credit Reporting act to restore the impaired credit 
   of victims of predatory activities and unfair consumer reporting 
 practices, to expand access to tools to protect vulnerable consumers 
  from identity theft, fraud, or a related crime, and protect victims 
               from further harm, 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 ``Restoring Unfairly 
Impaired Credit and Protecting Consumers Act''.
    (b) Table of Contents.--The table of contents for this Act is as 
follows:

Sec. 1. Short title; table of contents.
Sec. 2. Findings.
Sec. 3. Effective date.
Sec. 4. General Bureau rulemaking.
    TITLE I--RESTORING THE IMPAIRED CREDIT OF VICTIMS OF PREDATORY 
           ACTIVITIES AND UNFAIR CONSUMER REPORTING PRACTICES

Sec. 101. Shortens the time period that most adverse credit information 
                            stays on consumer reports.
Sec. 102. Mandates the expedited removal of fully paid or settled debt 
                            from consumer reports.
Sec. 103. Prohibits the appearance of medical debt on consumer reports.
Sec. 104. Provides credit restoration for victims of predatory mortgage 
                            lending and servicing.
Sec. 105. Provides credit relief for private education loans borrowers 
                            who were defrauded or mislead by 
                            proprietary education institution or career 
                            education programs.
Sec. 106. Establishes right for victims of financial abuse to have 
                            adverse information removed from their 
                            consumer reports.
Sec. 107. Prohibits treatment of credit restoration or rehabilitation 
                            as adverse information.
  TITLE II--EXPANDING ACCESS TO TOOLS TO PROTECT VULNERABLE CONSUMERS 
  FROM IDENTITY THEFT, FRAUD, OR A RELATED CRIME, AND PROTECT VICTIMS 
                           FROM FURTHER HARM

Sec. 201. Identity theft report definition.
Sec. 202. Amendment to protection for files and credit records of 
                            protected consumers.
Sec. 203. Enhances fraud alert protections.
Sec. 204. Amendment to security freezes for consumer reports.
Sec. 205. Clarification of information to be included with agency 
                            disclosures.
Sec. 206. Provides access to fraud records for victims.
Sec. 207. Requires Bureau to set procedures for reporting identity 
                            theft, fraud, and other related crime.
Sec. 208. Establishes the right to free credit monitoring and identity 
                            theft protection services for certain 
                            consumers.
Sec. 209. Ensures removal of inquiries resulting from identity theft, 
                            fraud, or other related crime from consumer 
                            reports.
                        TITLE III--MISCELLANEOUS

Sec. 301. Definitions.
Sec. 302. Technical correction related to risk-based pricing notices.
Sec. 303. FCRA findings and purpose; voids certain contracts not in the 
                            public interest.

SEC. 2. FINDINGS.

    Congress finds the following:
            (1) General findings.--
                    (A) Consumer reports play an increasingly important 
                role in the lives of American consumers. Most 
                creditors, for example, review these reports to make 
                decisions about whether to extend credit to consumers 
                and what terms and conditions to offer them. As such, 
                information contained in these reports affects whether 
                a person is able to get a private education loan to pay 
                for college costs, to secure a mortgage loan to buy a 
                home, or to obtain a credit card, as well as the terms 
                and conditions under which consumer credit products or 
                services are offered to them.
                    (B) Credit reports are also increasingly used for 
                many noncredit decisions, including by landlords to 
                determine whether to rent an apartment to a prospective 
                tenant and by employers to decide whether to hire 
                potential job applicants or to offer a promotion to 
                existing employees.
                    (C) Consumer reporting agencies (``CRAs'') have a 
                statutory obligation to verify independently the 
                accuracy and completeness of information included on 
                the reports that they provide.
                    (D) The nationwide CRAs have failed to establish 
                and follow reasonable procedures, as required by 
                existing law, to establish the maximum level of 
                accuracy of information contained on consumer reports. 
                Given the repeated failures of these CRAs to comply 
                with accuracy requirements on their own, this 
                legislation is intended to provide them with detailed 
                guidance improving the accuracy and completeness of 
                information contained in consumer reports, including 
                procedures, policies, and practices that these CRAs 
                should already be following to ensure full compliance 
                with their existing obligations.
                    (E) The presence of inaccurate or incomplete 
                information on these reports can result in substantial 
                financial and emotional harm to consumers. Credit 
                reporting errors can lead to the loss of a new 
                employment opportunity or a denial of a promotion in an 
                existing job, stop someone from being able to access 
                credit on favorable terms, prevent a person from 
                obtaining rental housing, or even trigger mental 
                distress.
                    (F) Current industry practices impose an unfair 
                burden of proof on consumers trying to fix errors on 
                their reports.
                    (G) Consumer reports containing inaccurate or 
                incomplete credit information also undermine the 
                ability of creditors and lenders to effectively and 
                accurately underwrite and price credit.
                    (H) Recognizing that credit reporting affects the 
                lives of almost all consumers in this country and that 
                the consequences of errors on a consumer report can be 
                catastrophic for a consumer, the Bureau of Consumer 
                Financial Protection (``Consumer Bureau'') began 
                accepting consumer complaints about credit reporting 
                shortly after its inception.
                    (I) The Consumer Bureau receives hundreds of 
                thousands of credit or consumer reporting complaints 
                each year, making credit reporting consistently the 
                most-complained-about subject matter on which the 
                Consumer Bureau accepts consumer complaints.
                    (J) The majority of credit reporting complaints 
                received by the Consumer Bureau involve incorrect 
                information on consumer reports, with consumers 
                frequently expressing their frustrations about the 
                burdensome and time-consuming process to disputing 
                items.
                    (K) Other common types of credit reporting 
                complaints submitted to the Consumer Bureau relate to 
                the improper use of a report, trouble obtaining a 
                report or credit score, CRAs' investigations, and 
                credit monitoring or identity protection.
                    (L) Unlike most other business relationships, where 
                consumers can register their satisfaction or 
                unhappiness with a particular credit product or service 
                simply by taking their business elsewhere, consumers 
                have no say in whether their information is included in 
                the CRAs databases and limited legal remedies to hold 
                the CRAs accountable for inaccuracies or poor service.
                    (M) Accordingly, despite the existing statutory 
                mandate for CRAs to follow reasonable procedures to 
                assure the maximum possible accuracy of the information 
                whenever they prepare consumer reports, numerous 
                studies, the high volume of consumer complaints 
                submitted to the Consumer Bureau about incorrect 
                information on consumer reports, and supervisory 
                activities by the Consumer Bureau demonstrate that CRAs 
                continue to skirt their obligations under the law.
            (2) Private education loans.--
                    (A) Many private education loan borrowers, who have 
                sought to negotiate a modified repayment plan when they 
                were experiencing a period of financial distress, have 
                been unable to get assistance from their loan holders, 
                which often results in them defaulting on their loans.
                    (B) Although private student loan holders may allow 
                a borrower to postpone payments while enrolled in 
                school full-time, many limit this option to a certain 
                time period. This period may not be sufficient for 
                those who need additional time to obtain their degree 
                or who want to continue their education by pursing a 
                graduate or professional degree. Borrowers who are 
                unable to make payments often default or have their 
                accounts sent to collections before they are even able 
                to graduate.
            (3) Deceptive practices at certain proprietary education 
        institutions and career education programs.--
                    (A) Observers have repeatedly noted the pervasive 
                problem of for-profit schools targeting low-income 
                students with deceptive high-pressure sales techniques 
                involving inflated job placement rates and misleading 
                data on graduate wages, and false representations about 
                the transferability of credits and the employability of 
                graduates in occupations that require licensure. 
                Student loan borrowers at these schools may be left 
                with nothing but worthless credentials and large debt.
                    (B) Attending a two-year, for-profit college costs, 
                on average, four times as much as attending a community 
                college. Students at for-profit colleges represent only 
                about 9 percent of the total higher education 
                population but a startling 46 percent of all Federal 
                student loan defaults.
                    (C) A disproportionate number of for-profit 
                students are low-income and people of color. For-profit 
                schools target veterans, working parents, first-
                generation students, and non-English speaking students, 
                who may be more likely than their public or private 
                nonprofit school counterparts to drop out, incur 
                enormous student debt, and default on this debt.
            (4) Medical debt.--
                    (A) Research by the Consumer Bureau has found that 
                the inclusion of medical collections on consumer 
                reports has unfairly reduced consumers' credit scores.
                    (B) Credit scores may underestimate a person's 
                creditworthiness by up to 10 points for those who owe 
                medical debt, and may underestimate a person's 
                creditworthiness by up to 22 points after the medical 
                debt has been paid, according to findings from the 
                Consumer Bureau.
                    (C) The Consumer Bureau has found that half of all 
                collections trade lines that appear on consumer reports 
                are related to medical bills claimed to be owed to 
                hospitals and other medical providers. These trade 
                lines affect the reports of nearly 1/5 of all consumers 
                in the credit reporting system.
                    (D) The Consumer Bureau has found that there are no 
                objective or enforceable standards that determine when 
                a debt can or should be reported as a collection trade 
                line. Because debt buyers and collectors determine 
                whether, when, and for how long to report a collection 
                account, there is only a limited relationship between 
                the time period reported, the severity of a 
                delinquency, and when or whether a collection trade 
                line appears on a consumer's credit report.
                    (E) Medical bills can be complex and confusing for 
                many consumers, which results in consumers' uncertainty 
                about what they owe, to whom, when, or for what, that 
                may cause some people, who ordinarily pay their bills 
                on time, to delay or withhold payments on their medical 
                debts. This uncertainty can also result in medical 
                collections appearing on consumer reports. Unlike with 
                most credit products or services, that have contractual 
                account disclosures describing the terms and conditions 
                of use, most consumers are not told what their out-of-
                pocket medical costs will be in advance. Consumers 
                needing urgent or emergency care rarely know, or are 
                provided, the cost of a medical treatment or procedure 
                before the service is rendered.
                    (F) The presence of medical collections is less 
                predictive of future defaults or serious delinquencies 
                than the presence of a nonmedical collection.
                    (G) Medical debt is regularly incurred 
                involuntarily, for necessary and often life-saving 
                medical services, and is therefore unlike other debt.
                    (H) Given the research showing there is little 
                predictive value in medical debt information, and the 
                unique nature of medical debt, the reporting of medical 
                debt on credit reports should be prohibited.
            (5) Financial abuse by known persons.--
                    (A) Financial abuse and exploitation are frequently 
                associated with domestic violence. This type of abuse 
                may result in fraudulent charges to a credit card or 
                having fraudulent accounts created by the abuser in the 
                survivor's name. Financial abuse may also result in the 
                survivor's inability to make timely payments on their 
                valid obligations due to loss or changes in income that 
                can occur when their abuser steals from or coerces the 
                survivor to relinquish their paychecks or savings.
                    (B) By racking up substantial debts in the 
                survivor's name, abusers are able to exercise financial 
                control over their survivors to make it economically 
                difficult for the survivor, whose credit is often 
                destroyed, to escape the situation.
                    (C) Domestic abuse survivors with poor credit are 
                likely to face significant obstacles in establishing 
                financial independence from their abusers. This can be 
                due, in part, because consumer reports may be used when 
                a person attempts to obtain a checking account, 
                housing, insurance, utilities, employment, and even a 
                security clearance as required for certain jobs.
                    (D) Providing documentation of identity (``ID'') 
                theft in order to dispute information on one's consumer 
                report can be particularly challenging for those who 
                know their financial abuser.
                    (E) While it is easier for consumers who obtain a 
                police report to remove fraudulent information from 
                their consumer report and prevent it from reappearing 
                in the future, safety and other noncredit concerns may 
                impact the capacity of a survivor of financial abuse 
                committed by a known person to turn to law enforcement 
                to get a police report.
                    (F) Domestic abuse survivors, seeking to remove 
                adverse information stemming from financial abuse by 
                contacting their furnishers directly, often face 
                skepticism about claims of ID theft perpetrated by a 
                partner because of an assumption that they are aware 
                of, and may have been complicit in, the activity which 
                the survivor alleges stems from financial abuse.
            (6) Deceptive and misleading marketing practices.--
                    (A) The three nationwide CRAs have faced millions 
                of dollars in fines and civil monetary penalties for 
                deceptive practices, including enticing consumers into 
                purchasing products and services that they may not want 
                or need, in some instances by advertising products or 
                services ``free'' that automatically converted into an 
                ongoing subscription service at the regular price 
                unless cancelled by the consumer. Codifying the duties 
                of CRAs is an appropriate way to ensure these companies 
                do not engage in such misleading behaviors in the 
                future.
                    (B) Given the ubiquitous use of consumer reports in 
                consumers' lives and the fact that consumers' 
                participation in the credit reporting system is 
                involuntary, CRAs should also prioritize providing 
                consumers with the effective means to safeguard their 
                personal and financial information and improve their 
                credit standing, rather than seeking to exploit 
                consumers' concerns and confusion about credit 
                reporting and scoring, to boost their companies' 
                profits.
                    (C) Vulnerable consumers, who have legitimate 
                concerns about the security of their personal and 
                financial information, deserve clear, accurate, and 
                transparent information about the credit reporting 
                tools that may be available to them, such as fraud 
                alerts and freezes.
            (7) Protections for consumers' credit information.--
                    (A) Despite heightened awareness, incidents of ID 
                theft continue to rise. As these incidents increase, 
                consumers experience significant financial loss and 
                emotional distress from the inability to safeguard 
                effectively and inexpensively their credit information 
                from bad actors.
                    (B) Children are much more likely than adults to 
                have their identities stolen. Child identities are 
                valuable to thieves because most children do not have 
                existing files, and their parents may not notice 
                fraudulent activity until their child applies for a 
                student loan, a job, or a credit card. As a result, the 
                fraudulent activity of the bad actors may go undetected 
                for years.
                    (C) Despite the increasing incidents of children's 
                ID theft, parents who want to proactively prevent their 
                children from having their identity stolen, may not be 
                able to do so. Nationwide Federal law to address this 
                issue is lacking.
                    (D) Each year, more than 10 million American 
                consumers are victims of identity theft, costing them 
                roughly $20 billion annually.
                    (E) American consumers spend billions of dollars 
                annually on products aimed at protecting their 
                identity. As risks to consumers' personal and financial 
                information continue to grow, consumers need additional 
                protections to ensure that they have fair and 
                reasonable access to the full suite of ID theft and 
                fraud prevention measures that may be right for them.

SEC. 3. EFFECTIVE DATE.

    Except as otherwise specified, the amendments made by this Act 
shall take effect 2 years after the date of the enactment of this Act.

SEC. 4. GENERAL BUREAU RULEMAKING.

    Except as otherwise provided, not later than the end of the 2-year 
period beginning on the date of the enactment of this Act, the Bureau 
of Consumer Financial Protection shall issue final rules to implement 
the amendments made by this Act.

    TITLE I--RESTORING THE IMPAIRED CREDIT OF VICTIMS OF PREDATORY 
           ACTIVITIES AND UNFAIR CONSUMER REPORTING PRACTICES

SEC. 101. SHORTENS THE TIME PERIOD THAT MOST ADVERSE CREDIT INFORMATION 
              STAYS ON CONSUMER REPORTS.

    (a) In General.--Section 605 of the Fair Credit Reporting Act (15 
U.S.C. 1681c) is amended--
            (1) in subsection (a)--
                    (A) by striking ``Except as authorized under 
                subsection (b), no'' and inserting ``No'';
                    (B) in paragraph (1), by striking ``10 years'' and 
                inserting ``7 years'';
                    (C) in paragraph (2), by striking ``Civil suits, 
                civil judgments, and records'' and inserting 
                ``Records'';
                    (D) in paragraph (3), by striking ``seven years'' 
                and inserting ``4 years'';
                    (E) in paragraph (4), by striking ``seven years'' 
                and inserting ``4 years, except as provided in 
                paragraph (8), (10), (11), (12), or (13), or if 
                deletion is required by section 605D, 605E, or 605F'';
                    (F) in paragraph (5)--
                            (i) by striking ``, other than records of 
                        convictions of crimes''; and
                            (ii) by striking ``seven years'' and 
                        inserting ``4 years, except if deletion is 
                        required by section 605D, 605E, or 605F''; and
                    (G) by adding at the end the following new 
                paragraphs:
            ``(9) Civil suits and civil judgments (except as provided 
        in paragraph (8)) that, from date of entry, antedate the report 
        by more than 4 years or until the governing statute of 
        limitations has expired, whichever is the longer period.
            ``(10) A civil suit or civil judgment--
                    ``(A) brought by a private education loan holder 
                that, from the date of successful completion of credit 
                restoration or rehabilitation in accordance with the 
                requirements of section 605E, antedates the report by 
                45 calendar days; or
                    ``(B) brought by a lender with respect to a covered 
                residential mortgage loan where the consumer has 
                obtained relief pursuant to section 605D that antedates 
                the report by 45 calendar days.
            ``(11) Records of convictions of crimes which antedate the 
        report by more than 7 years.
            ``(12) Any other adverse item of information relating to 
        the collection of debt that did not arise from a contract or an 
        agreement to pay by a consumer, including fines, tickets, and 
        other assessments, as determined by the Bureau, excluding tax 
        liability.'';
            (2) by striking subsection (b) and redesignating 
        subsections (c) through (h) as subsections (b) through (g), 
        respectively; and
            (3) in subsection (b) (as so redesignated), by striking 
        ``7-year period referred to in paragraphs (4) and (6)'' and 
        inserting ``4-year period referred to in paragraphs (4) and 
        (5)''.
    (b) Conforming Amendments.--The Fair Credit Reporting Act (15 
U.S.C. 1681) is amended--
            (1) in section 616(d), by striking ``section 605(g)'' each 
        place that term appears and inserting ``section 605(f)''; and
            (2) in section 625(b)(5)(A), by striking ``section 605(g)'' 
        and inserting ``section 605(f)''.

SEC. 102. MANDATES THE EXPEDITED REMOVAL OF FULLY PAID OR SETTLED DEBT 
              FROM CONSUMER REPORTS.

    Section 605(a) of the Fair Credit Reporting Act (15 U.S.C. 
1681c(a)), as amended by section 101(a)(1), is further amended by 
adding at the end the following new paragraph:
            ``(13) Any other adverse item of information related to a 
        fully paid or settled debt that had been characterized as 
        delinquent, charged off, or in collection which, from the date 
        of payment or settlement, antedates the report by more than 45 
        calendar days.''.

SEC. 103. PROHIBITS THE APPEARANCE OF MEDICAL DEBT ON CONSUMER REPORTS.

    (a) Prohibition on Reporting Medical Procedures.--Section 605(a) of 
the Fair Credit Reporting Act (15 U.S.C. 1681c(a)), as amended by 
section 102, is further amended by adding at the end the following new 
paragraph:
            ``(14) Any information related to a debt arising from a 
        medical procedure.''.
    (b) Technical Amendment.--Section 604(g)(1)(C) of the Fair Credit 
Reporting Act (15 U.S.C. 1681b(g)(1)(C)) is further amended by striking 
``devises'' and inserting ``devices''.

SEC. 104. PROVIDES CREDIT RESTORATION FOR VICTIMS OF PREDATORY MORTGAGE 
              LENDING AND SERVICING.

    (a) In General.--The Fair Credit Reporting Act (15 U.S.C. 1681 et 
seq.) is amended by inserting after section 605C the following new 
section:
``Sec. 605D. Credit restoration for victims of predatory mortgage 
              lending
    ``(a) In General.--A consumer reporting agency may not furnish any 
consumer report containing any adverse item of information relating to 
a covered residential mortgage loan (including the origination and 
servicing of such a loan, any loss mitigation activities related to 
such a loan, and any foreclosure, deed in lieu of foreclosure, or short 
sale related to such a loan), if the action or inaction to which the 
item of information relates--
            ``(1) resulted from an unfair, deceptive, or abusive act or 
        practice, or a fraudulent, discriminatory, or illegal activity 
        of a financial institution, as determined by the Bureau or a 
        court of competent jurisdiction; or
            ``(2) is related to an unfair, deceptive, or abusive act, 
        practice, or a fraudulent, discriminatory, or illegal activity 
        of a financial institution that is the subject of a settlement 
        agreement initiated on behalf of a consumer or consumers and 
        that is between the financial institution and an agency or 
        department of a local, State, or Federal Government, regardless 
        of whether such settlement includes an admission of wrongdoing.
    ``(b) Covered Residential Mortgage Loan Defined.--In this section, 
the term `covered residential mortgage loan' means any loan primarily 
for personal, family, or household use that is secured by a mortgage, 
deed of trust, or other equivalent consensual security interest on a 
dwelling (as defined in section 103(w) of the Truth in Lending Act), 
including a loan in which the proceeds will be used for--
            ``(1) a manufactured home (as defined in section 603 of the 
        Housing and Community Development Act of 1974 (42 U.S.C. 
        5402));
            ``(2) any installment sales contract, land contract, or 
        contract for deed on a residential property; or
            ``(3) a reverse mortgage transaction (as defined in section 
        103 of the Truth in Lending Act).''.
    (b) Table of Contents Amendment.--The table of contents of the Fair 
Credit Reporting Act is amended by inserting after the item relating to 
section 605C the following new item:

``605D. Credit restoration for victims of predatory mortgage 
                            lending.''.
    (c) Effective Date.--The amendments made by this section shall take 
effect at the end of the 18-month period beginning on the date of the 
enactment of this Act.

SEC. 105. PROVIDES CREDIT RELIEF FOR PRIVATE EDUCATION LOANS BORROWERS 
              WHO WERE DEFRAUDED OR MISLEAD BY PROPRIETARY EDUCATION 
              INSTITUTION OR CAREER EDUCATION PROGRAMS.

    (a) In General.--The Fair Credit Reporting Act (15 U.S.C. 1681 et 
seq.), as amended by section 104, is further amended by inserting after 
section 605D the following new section:
``Sec. 605E. Private education loan credit restoration for defrauded 
              student borrowers who attend certain proprietary 
              educational institution or career education programs
    ``(a) Process for Certification as a Qualifying Private Education 
Loan Borrower.--
            ``(1) In general.--A consumer may submit a request to the 
        Bureau, along with a defraudment claim, to be certified as a 
        qualifying private education loan borrower with respect to a 
        private education loan.
            ``(2) Certification.--The Bureau shall certify a consumer 
        described in paragraph (1) as a qualifying private education 
        loan borrower with respect to a private education loan if the 
        Bureau or a court of competent jurisdiction determines that the 
        consumer has a valid defraudment claim with respect to such 
        loan.
    ``(b) Removal of Adverse Information.--Upon receipt of a notice 
described in subsection (d)(5), a consumer reporting agency shall 
remove any adverse information relating to any private education loan 
with respect to which a consumer is a qualifying private education loan 
borrower from any consumer report within 45 calendar days of receipt of 
such notification.
    ``(c) Disclosure.--The Bureau shall disclose the results of a 
certification determination in writing to the consumer that provides a 
clear and concise explanation of the basis for the determination of 
whether such consumer is a qualifying private education loan borrower 
with respect to a private education loan and, as applicable, an 
explanation of the consumer's right to have adverse information 
relating to such loan removed from their consumer report by a consumer 
reporting agency.
    ``(d) Procedures.--The Bureau shall--
            ``(1) establish procedures for a consumer to submit a 
        request described in subsection (a);
            ``(2) establish procedures to efficiently review, accept, 
        and process such a request;
            ``(3) develop ongoing outreach initiatives and education 
        programs to inform consumers of the circumstances under which 
        such consumer may be eligible to be certified as a qualifying 
        private education loan borrower with respect to a private 
        education loan;
            ``(4) establish procedures, including the manner, form, and 
        content of the notice informing a private educational loan 
        holder of the prohibition on reporting any adverse information 
        relating to a private education loan with respect to which a 
        consumer is a qualifying private education loan borrower; and
            ``(5) establish procedures, including the manner, form, and 
        content of the notice informing a consumer reporting agency of 
        the obligation to remove any adverse information as described 
        in subsection (c).
    ``(e) Standardized Reporting Codes.--A consumer reporting agency 
shall develop standardized reporting codes for use by private education 
loan holders to identify and report a qualifying private education loan 
borrower's status of a request to remove any adverse information 
relating to any private education loan with respect to which such 
consumer is a qualifying private education loan borrower. A consumer 
report in which a person furnishes such codes shall be deemed to comply 
with the requirements for accuracy and completeness required under 
sections 623(a)(1) and 630. Such codes shall not appear on any report 
provided to a third party, and shall be removed from the consumer's 
credit report upon the successful restoration of the consumer's credit 
under this section.
    ``(f) Defraudment Claim Defined.--For purposes of this section, the 
term `defraudment claim' means a claim made with respect to a consumer 
who is a borrower of a private education loan with respect to a 
proprietary educational institution or career education program in 
which the consumer alleges that--
            ``(1) the proprietary educational institution or career 
        education program--
                    ``(A) engaged in an unfair, deceptive, or abusive 
                act or practice, or a fraudulent, discriminatory, or 
                illegal activity--
                            ``(i) as defined by State law of the State 
                        in which the proprietary educational 
                        institution or career education program is 
                        headquartered or maintains or maintained 
                        significant operations; or
                            ``(ii) under Federal law;
                    ``(B) is the subject of an enforcement order, a 
                settlement agreement, a memorandum of understanding, a 
                suspension of tuition assistance, or any other action 
                relating to an unfair, deceptive, or abusive act or 
                practice that is between the proprietary educational 
                institution or career education program and an agency 
                or department of a local, State, or Federal Government; 
                or
                    ``(C) misrepresented facts to students or 
                accrediting agencies or associations about graduation 
                or gainful employment rates in recognized occupations 
                or failed to provide the coursework necessary for 
                students to successfully obtain a professional 
                certification or degree from the proprietary 
                educational institution or career education program; or
            ``(2) the consumer has submitted a valid defense to 
        repayment claim with respect to such loan, as determined by the 
        Secretary of Education.''.
    (b) Table of Contents Amendment.--The table of contents of the Fair 
Credit Reporting Act is amended by inserting after the item relating to 
section 605D (as added by section 104) the following new item:

``605E. Private education loan credit restoration for defrauded student 
                            borrowers who attend certain proprietary 
                            educational institution or career education 
                            programs.''.

SEC. 106. ESTABLISHES RIGHT FOR VICTIMS OF FINANCIAL ABUSE TO HAVE 
              ADVERSE INFORMATION REMOVED FROM THEIR CONSUMER REPORTS.

    (a) In General.--The Fair Credit Reporting Act (15 U.S.C. 1681 et 
seq.), as amended by section 105, is further amended by inserting after 
section 605E the following:
``Sec. 605F. Adverse information in cases of financial abuse
    ``(a) In General.--A consumer reporting agency may not furnish a 
consumer report containing any adverse item of information about a 
consumer that resulted from financial abuse if the consumer has 
provided documentation of financial abuse to the consumer reporting 
agency.
    ``(b) Rulemaking.--
            ``(1) In general.--Not later than 180 days after the date 
        of the enactment of this section, the Director shall issue 
        rules to implement this section.
            ``(2) Contents.--Any rule issued pursuant to paragraph (1) 
        shall establish a method by which consumers shall submit 
        documentation of financial abuse to consumer reporting 
        agencies.
    ``(c) Definitions.--In this section:
            ``(1) Documentation of financial abuse.--The term 
        `documentation of financial abuse' means--
                    ``(A) documentation of--
                            ``(i) a determination by a Federal or State 
                        government entity that a consumer is a victim 
                        of domestic violence, dating violence, abuse in 
                        later life, or child abuse and neglect;
                            ``(ii) a determination by a court of 
                        competent jurisdiction that a consumer is a 
                        victim of domestic violence, dating violence, 
                        abuse in later life, or child abuse and 
                        neglect;
                            ``(iii) written verification from a 
                        Qualified Third Party to whom the consumer 
                        reported financial abuse; or
                            ``(iv) any other documentation the Bureau 
                        may prescribe; and
                    ``(B) documentation that identifies items of 
                adverse information that should not be furnished by a 
                consumer reporting agency because the items resulted 
                from the financial abuse of which such consumer is a 
                victim.
            ``(2) Financial abuse.--The term `financial abuse' has the 
        meaning given `economic abuse' (as defined in 40002 of the 
        Violence Against Women Act of 1994), except such term is not 
        limited to the context of domestic violence, dating violence, 
        and abuse in later life.
            ``(3) Qualified third party.--The term `Qualified Third 
        Party' means--
                    ``(A) a law enforcement officer;
                    ``(B) a person employed by or working on behalf of 
                a government agency or nonprofit organization that 
                provides services to victims of domestic violence, 
                child abuse or neglect, elder abuse, economic abuse, or 
                abuse in later life;
                    ``(C) a member of the clergy of a church, religious 
                society, or denomination;
                    ``(D) a physician, psychiatrist, psychologist, 
                social worker, registered nurse, therapist, or clinical 
                professional counselor licensed to practice in any 
                State; or
                    ``(E) any other person as determined by the 
                Director of the Bureau.
            ``(4) Other definitions.--The terms `abuse in later life', 
        `child abuse and neglect', `dating violence', `domestic abuse', 
        `economic abuse', and `elder abuse'--
                    ``(A) have the meanings given, respectively, in 
                section 40002 of the Violence Against Women Act of 
                1994; or
                    ``(B) if such a term, as defined by a State, 
                affords greater protection to an individual than the 
                protection provided under this section, have the 
                meanings given by the relevant State.''.
    (b) Table of Contents Amendment.--The table of contents of the Fair 
Credit Reporting Act is amended by inserting after the item relating to 
section 605E (as added by section 105) the following new item:

``605F. Adverse information in cases of financial abuse.''.
    (c) Effective Date.--The amendments made by this section shall 
apply on the date that is 30 days after the date on which the Director 
of the Bureau of Consumer Financial Protection issues a rule pursuant 
to section 605F(b) of the Fair Credit Reporting Act, as added by this 
section.

SEC. 107. PROHIBITS TREATMENT OF CREDIT RESTORATION OR REHABILITATION 
              AS ADVERSE INFORMATION.

    The Fair Credit Reporting Act (15 U.S.C. 1681 et seq.) is amended--
            (1) by adding at the end the following new section:
``Sec. 630. Prohibition of certain factors related to Federal credit 
              restoration or rehabilitation
    ``(a) Restriction on Credit Scoring Models.--A credit scoring model 
may not--
            ``(1) take into consideration, in a manner adverse to a 
        consumer's credit score, any information in a consumer report 
        concerning the consumer's participation in credit restoration 
        or rehabilitation under section 605D, 605E, or 605F; or
            ``(2) treat negatively, in a manner adverse to a consumer's 
        credit score, the absence of payment history data for an 
        existing account, whether the account is open or closed, where 
        the absence of such information is the result of a consumer's 
        participation in credit restoration or rehabilitation under 
        section 605D, 605E, or 605F.
    ``(b) Restriction on Persons Obtaining Consumer Reports.--A person 
who obtains a consumer report may not--
            ``(1) take into consideration, in a manner adverse to a 
        consumer, any information in a consumer report concerning the 
        consumer's participation in credit restoration or 
        rehabilitation under section 605D, 605E, or 605F; or
            ``(2) treat negatively the absence of payment history data 
        for an existing account, whether the account is open or closed, 
        where the absence of such information is the result of a 
        consumer's participation in credit restoration or 
        rehabilitation under section 605D, 605E, or 605F.
    ``(c) Prohibition Related to Adverse Actions and Risk-Based Pricing 
Decisions.--No person shall use information related to a consumer's 
participation in credit restoration or rehabilitation under section 
605D, 605E, or 605F in connection with any determination of--
            ``(1) the consumer's eligibility or continued eligibility 
        for an extension of credit;
            ``(2) the terms and conditions offered to a consumer 
        regarding an extension of credit; or
            ``(3) an adverse action made for employment purposes.''; 
        and
            (2) in the table of contents for such Act, by adding at the 
        end the following new item:

``630. Prohibition of certain factors related to Federal credit 
                            restoration or rehabilitation.''.

  TITLE II--EXPANDING ACCESS TO TOOLS TO PROTECT VULNERABLE CONSUMERS 
  FROM IDENTITY THEFT, FRAUD, OR A RELATED CRIME, AND PROTECT VICTIMS 
                           FROM FURTHER HARM

SEC. 201. IDENTITY THEFT REPORT DEFINITION.

    Paragraph (4) of section 603(q) of the Fair Credit Reporting Act 
(15 U.S.C. 1681a(q)(4)) is amended to read as follows:
            ``(4) Identity theft report.--The term `identity theft 
        report' has the meaning given that term by rule of the Bureau, 
        and means, at a minimum, a report--
                    ``(A) that is a standardized affidavit that alleges 
                that a consumer has been a victim of identity theft, 
                fraud, or a related crime, or has been harmed by the 
                unauthorized disclosure of the consumer's financial or 
                personally identifiable information, that was developed 
                and made available by the Bureau; or
                    ``(B)(i) that alleges an identity theft, fraud, or 
                a related crime, or alleges harm from the unauthorized 
                disclosure of the consumer's financial or personally 
                identifiable information;
                    ``(ii) that is a copy of an official, valid report 
                filed by a consumer with an appropriate Federal, State, 
                or local law enforcement agency, including the United 
                States Postal Inspection Service, or such other 
                government agency deemed appropriate by the Bureau; and
                    ``(iii) the filing of which subjects the person 
                filing the report to criminal penalties relating to the 
                filing of false information if, in fact, the 
                information in the report is false.''.

SEC. 202. AMENDMENT TO PROTECTION FOR FILES AND CREDIT RECORDS OF 
              PROTECTED CONSUMERS.

    (a) Amendment to Definition of File.--Section 603(g) of the Fair 
Credit Reporting Act (15 U.S.C. 1681a(g)) is amended by inserting ``, 
except that such term excludes a record created pursuant to section 
605A(j)'' after ``stored''.
    (b) Amendment to Protection for Files and Credit Records.--Section 
605A(j) of the Fair Credit Reporting Act (15 U.S.C. 1681c-1(j)) is 
amended--
            (1) in paragraph (1)--
                    (A) in subparagraph (B)(ii), by striking ``an 
                incapacitated person or a protected person'' and 
                inserting ``a person''; and
                    (B) by amending subparagraph (E) to read as 
                follows:
                    ``(E) The term `security freeze'--
                            ``(i) has the meaning given in subsection 
                        (i)(1)(C); and
                            ``(ii) with respect to a protected consumer 
                        for whom the consumer reporting agency does not 
                        have a file, means a record that is subject to 
                        a security freeze that a consumer reporting 
                        agency is prohibited from disclosing to any 
                        person requesting the consumer report for the 
                        purpose of opening a new account involving the 
                        extension of credit.''; and
            (2) in paragraph (4)(D), by striking ``a protected consumer 
        or a protected consumer's representative under subparagraph 
        (A)(i)'' and inserting ``a protected consumer described under 
        subparagraph (A)(ii) or a protected consumer's 
        representative''.

SEC. 203. ENHANCES FRAUD ALERT PROTECTIONS.

    Section 605A of the Fair Credit Reporting Act (15 U.S.C. 1681c-1) 
is amended--
            (1) in subsection (a)--
                    (A) in the subsection heading, by striking ``One-
                Call'' and inserting ``One-Year'';
                    (B) in paragraph (1)--
                            (i) in the paragraph heading, by striking 
                        ``Initial alerts'' and inserting ``In 
                        general'';
                            (ii) by inserting ``or harmed by the 
                        unauthorized disclosure of the consumer's 
                        financial or personally identifiable 
                        information,'' after ``identity theft,'';
                            (iii) in subparagraph (A), by striking 
                        ``and'' at the end;
                            (iv) in subparagraph (B)--
                                    (I) by inserting ``1-year'' before 
                                ``fraud alert''; and
                                    (II) by striking the period at the 
                                end and inserting ``; and''; and
                            (v) by adding at the end the following new 
                        subparagraph:
                    ``(C) upon the expiration of the 1-year period 
                described in subparagraph (A) or a subsequent 1-year 
                period, and in response to a direct request by the 
                consumer or such representative, continue the fraud 
                alert for a period of 1 additional year if the 
                information asserted in this paragraph remains 
                applicable.''; and
                    (C) in paragraph (2)--
                            (i) by inserting ``1-year'' before ``fraud 
                        alert'';
                            (ii) in subparagraph (A), by inserting 
                        ``and credit score'' after ``file''; and
                            (iii) in subparagraph (B), by striking 
                        ``any request described in subparagraph (A)'' 
                        and inserting ``the consumer reporting agency 
                        includes the 1-year fraud alert in the file of 
                        a consumer'';
            (2) in subsection (b)--
                    (A) in the subsection heading, by striking 
                ``Extended'' and inserting ``Seven-Year'';
                    (B) in paragraph (1)--
                            (i) in subparagraph (B)--
                                    (I) by striking ``5-year period 
                                beginning on the date of such request'' 
                                and inserting ``such 7-year period''; 
                                and
                                    (II) by striking ``and'' at the 
                                end;
                            (ii) in subparagraph (C)--
                                    (I) by striking ``extended'' and 
                                inserting ``7-year''; and
                                    (II) by striking the period at the 
                                end and inserting ``; and''; and
                            (iii) by adding at the end the following 
                        new subparagraph:
                    ``(D) upon the expiration of such 7-year period or 
                a subsequent 7-year period, and in response to a direct 
                request by the consumer or such representative, 
                continue the fraud alert for a period of 7 additional 
                years if the consumer or such representative submits an 
                updated identity theft report.''; and
                    (C) in paragraph (2), by amending subparagraph (A) 
                to read as follows:
                    ``(A) disclose to the consumer that the consumer 
                may request a free copy of the file and credit score of 
                the consumer pursuant to section 612(d) during each 12-
                month period beginning on the date on which the 7-year 
                fraud alert was included in the file and ending on the 
                date of the last day that the 7-year fraud alert 
                applies to the consumer's file; and'';
            (3) in subsection (c)--
                    (A) by redesignating paragraphs (1), (2), and (3), 
                as subparagraphs (A), (B), and (C), respectively (and 
                conforming the margins accordingly);
                    (B) by striking ``Upon the direct request'' and 
                inserting:
            ``(1) In general.--Upon the direct request''; and
                    (C) by adding at the end the following new 
                paragraph:
            ``(2) Access to free reports and credit scores.--If a 
        consumer reporting agency includes an active duty alert in the 
        file of an active duty military consumer, the consumer 
        reporting agency shall--
                    ``(A) disclose to the active duty military consumer 
                that the active duty military consumer may request a 
                free copy of the file and credit score of the active 
                duty military consumer pursuant to section 612(d), 
                during each 12-month period beginning on the date that 
                the activity duty military alert is requested and 
                ending on the date of the last day the active duty 
                alert applies to the file of the active duty military 
                consumer; and
                    ``(B) provide to the active duty military consumer 
                all disclosures required to be made under section 609, 
                without charge to the consumer, not later than 3 
                business days after any request described in 
                subparagraph (A).'';
            (4) by amending subsection (d) to read as follows:
    ``(d) Procedures.--Each consumer reporting agency described in 
section 603(p) shall include on the webpage required under subsection 
(i) policies and procedures to comply with this section, including 
policies and procedures--
            ``(1) that inform consumers of the availability of 1-year 
        fraud alerts, 7-year fraud alerts, active duty alerts, and 
        security freezes (as applicable);
            ``(2) that allow consumers to request 1-year fraud alerts, 
        7-year fraud alerts, and active duty alerts (as applicable) and 
        to place, temporarily lift, or fully remove a security freeze 
        in a simple and easy manner; and
            ``(3) for asserting in good faith a suspicion that the 
        consumer has been or is about to become a victim of identity 
        theft, fraud, or a related crime, or harmed by the unauthorized 
        disclosure of the consumer's financial or personally 
        identifiable information, for a consumer seeking a 1-year fraud 
        alert or security freeze.'';
            (5) in subsection (e)--
                    (A) by inserting ``1-year or 7-year'' before 
                ``fraud alert''; and
                    (B) by amending paragraph (3) to read as follows:
            ``(3) subparagraphs (A) and (B) of subsection (c)(1), in 
        the case of a referral under subsection (c)(1)(C).'';
            (6) in subsection (f), by striking ``or active duty alert'' 
        and inserting ``, active duty alert, or security freeze (as 
        applicable)'';
            (7) in subsection (g)--
                    (A) by inserting ``or has been harmed by the 
                unauthorized disclosure of the consumer's financial or 
                personally identifiable information, or to inform such 
                agency of the consumer's participation in credit 
                restoration or rehabilitation under section 605D, 605E, 
                or 605F,'' after ``identity theft,''; and
                    (B) by inserting ``or security freezes'' after 
                ``request alerts'';
            (8) in subsection (h)--
                    (A) in paragraph (1)--
                            (i) in the paragraph heading, by striking 
                        ``initial'' and inserting ``1-year''; and
                            (ii) by striking ``initial'' and inserting 
                        ``1-year'' each place such term appears; and
                    (B) in paragraph (2)--
                            (i) in the paragraph heading, by striking 
                        ``extended'' and inserting ``7-year''; and
                            (ii) by striking ``extended'' and inserting 
                        ``7-year'' each place such term appears; and
            (9) in subsection (i)(4)--
                    (A) by striking subparagraphs (E) and (I); and
                    (B) by redesignating subparagraphs (F), (G), (H), 
                and (J) as subparagraphs (E), (F), (G), and (H), 
                respectively.

SEC. 204. AMENDMENT TO SECURITY FREEZES FOR CONSUMER REPORTS.

    (a) In General.--Section 605A(i) of the Fair Credit Reporting Act 
(15 U.S.C. 1681c-1(i)) is amended--
            (1) by amending the subsection heading to read as follows: 
        ``Security Freezes for Consumer Reports'';
            (2) in paragraph (3)(E), by striking ``Upon receiving'' and 
        all that follows through ``subparagraph (C),'' and inserting 
        ``Upon receiving a direct request from a consumer for a 
        temporary removal of a security freeze, a consumer reporting 
        agency shall''; and
            (3) by adding at the end the following:
            ``(7) Relation to state law.--This subsection does not 
        modify or supersede the laws of any State relating to security 
        freezes or other similar actions, except to the extent those 
        laws are inconsistent with any provision of this title, and 
        then only to the extent of the inconsistency. For purposes of 
        this subsection, a term or provision of a State law is not 
        inconsistent with the provisions of this subsection if the term 
        or provision affords greater protection to the consumer than 
        the protection provided under this subsection as determined by 
        the Bureau.''.
    (b) Amendment to Web Page Requirements.--Section 605A(i)(6)(A) of 
the Fair Credit Reporting Act (15 U.S.C. 1681c-1(i)(6)(A)) is amended--
            (1) in clause (ii), by striking ``initial fraud alert'' and 
        inserting ``1-year fraud alert'';
            (2) in clause (iii), by striking ``extended fraud alert'' 
        and inserting ``7-year fraud alert''; and
            (3) in clause (iv), by striking ``fraud''.
    (c) Amendment to Exceptions for Certain Persons.--Section 
605A(i)(4)(A) of the Consumer Credit Protection Act (15 U.S.C. 1681c-
1(i)(4)(A)) is amended to read as follows:
                    ``(A) A person, or the person's subsidiary, 
                affiliate, agent, subcontractor, or assignee with whom 
                the consumer has, or prior to assignment had, an 
                authorized account, contract, or debtor-creditor 
                relationship for the purposes of reviewing the active 
                account or collecting the financial obligation owed on 
                the account, contract, or debt.''.
    (d) Effective Date.--The amendments made by subsection (a) shall 
take effect on the date of the enactment of this Act.

SEC. 205. CLARIFICATION OF INFORMATION TO BE INCLUDED WITH AGENCY 
              DISCLOSURES.

    Section 609(c)(2) of such Act (15 U.S.C. 1681g(c)(2)) is amended--
            (1) in subparagraph (B)--
                    (A) by striking ``consumer reporting agency 
                described in section 603(p)'' and inserting ``consumer 
                reporting agency described in subsection (p) or (x) of 
                section 603'';
                    (B) by striking ``the agency'' and inserting ``such 
                an agency''; and
                    (C) by inserting ``and an Internet website 
                address'' after ``hours''; and
            (2) in subparagraph (E), by striking ``outdated under 
        section 605 or'' and inserting ``outdated, required to be 
        removed, or''.

SEC. 206. PROVIDES ACCESS TO FRAUD RECORDS FOR VICTIMS.

    Section 609(e) of the Fair Credit Reporting Act (15 U.S.C. 
1681g(e)) is amended--
            (1) in paragraph (1)--
                    (A) by striking ``resulting from identity theft'';
                    (B) by striking ``claim of identity theft'' and 
                inserting ``claim of fraudulent activity''; and
                    (C) by striking ``any transaction alleged to be a 
                result of identity theft'' and inserting ``any 
                fraudulent transaction'';
            (2) in paragraph (2)(B)--
                    (A) by striking ``identity theft, at the election 
                of the business entity'' and inserting ``fraudulent 
                activity'';
                    (B) by amending clause (i) to read as follows:
                            ``(i) a copy of an identity theft report; 
                        or''; and
                    (C) by amending clause (ii) to read as follows:
                            ``(ii) an affidavit of fact that is 
                        acceptable to the business entity for that 
                        purpose.'';
            (3) in paragraph (3)(C), by striking ``identity theft'' and 
        inserting ``fraudulent activity'';
            (4) by striking paragraph (8) and redesignating paragraphs 
        (9) through (13) as paragraphs (8) through (12), respectively; 
        and
            (5) in paragraph (10) (as so redesignated), by striking 
        ``or a similar crime'' and inserting ``, fraud, or a related 
        crime''.

SEC. 207. REQUIRES BUREAU TO SET PROCEDURES FOR REPORTING IDENTITY 
              THEFT, FRAUD, AND OTHER RELATED CRIME.

    Section 621(f)(2) of the Fair Credit Reporting Act (15 U.S.C. 
1681s(f)(2)) is amended--
            (1) in the paragraph heading, by striking ``Model form'' 
        and inserting ``Standardized affidavit'';
            (2) by striking ``The Commission'' and inserting ``The 
        Bureau'';
            (3) by striking ``model form'' and inserting ``standardized 
        affidavit'';
            (4) by inserting after ``identity theft'' the following: 
        ``, fraud, or a related crime, or otherwise are harmed by the 
        unauthorized disclosure of the consumer's financial or 
        personally identifiable information,''; and
            (5) by striking ``fraud.'' and inserting ``identity theft, 
        fraud, or other related crime. Such standardized affidavit and 
        procedures shall not include a requirement that a consumer 
        obtain a police report.''.

SEC. 208. ESTABLISHES THE RIGHT TO FREE CREDIT MONITORING AND IDENTITY 
              THEFT PROTECTION SERVICES FOR CERTAIN CONSUMERS.

    (a) Enforcement of Credit Monitoring for Servicemembers.--
            (1) In general.--Subsection (k) of section 605A (15 U.S.C. 
        1681c-1(a)) is amended by striking paragraph (4).
            (2) Effective date.--This subsection and the amendments 
        made by this subsection shall take effect on the date of the 
        enactment of this Act.
    (b) Free Credit Monitoring and Identity Theft Protection Services 
for Certain Consumers.--Subsection (k) of section 605A (15 U.S.C. 
1681c-1), is amended to read as follows:
    ``(k) Credit Monitoring and Identity Theft Protection Services.--
            ``(1) In general.--Upon the direct request of a consumer, a 
        consumer reporting agency described in section 603(p) that 
        maintains a file on the consumer and has received appropriate 
        proof of the identity of the requester (as described in section 
        1022.123 of title 12, Code of Federal Regulations) shall 
        provide the consumer with credit monitoring and identity theft 
        protection services not later than 1 business day after 
        receiving such request sent by postal mail, toll-free 
        telephone, or secure electronic means as established by the 
        agency.
            ``(2) Fees.--
                    ``(A) Classes of consumers.--The Bureau may 
                establish classes of consumers eligible to receive 
                credit monitoring and identity theft protection 
                services free of charge.
                    ``(B) No fee.--A consumer reporting agency 
                described in section 603(p) may not charge a consumer a 
                fee to receive credit monitoring and identity theft 
                protection services if the consumer or a representative 
                of the consumer--
                            ``(i) asserts in good faith a suspicion 
                        that the consumer has been or is about to 
                        become a victim of identity theft, fraud, or a 
                        related crime, or harmed by the unauthorized 
                        disclosure of the consumer's financial or 
                        personally identifiable information;
                            ``(ii) is unemployed and intends to apply 
                        for employment in the 60-day period beginning 
                        on the date on which the request is made;
                            ``(iii) is a recipient of public welfare 
                        assistance;
                            ``(iv) is an active duty military consumer 
                        or a member of the National Guard (as defined 
                        in section 101(c) of title 10, United States 
                        Code);
                            ``(v) is 65 years of age or older; or
                            ``(vi) is a member of a class established 
                        by the Bureau under subparagraph (A).
            ``(3) Bureau rulemaking.--The Bureau shall issue 
        regulations--
                    ``(A) to define the scope of credit monitoring and 
                identity theft protection services required under this 
                subsection; and
                    ``(B) to set a fair and reasonable fee that a 
                consumer reporting agency may charge a consumer (other 
                than a consumer described under paragraph (2)(B)) for 
                such credit monitoring and identity theft protection 
                services.
            ``(4) Relation to state law.--This subsection does not 
        modify or supersede of the laws of any State relating to credit 
        monitoring and identity theft protection services or other 
        similar actions, except to the extent those laws are 
        inconsistent with any provision of this title, and then only to 
        the extent of the inconsistency. For purposes of this 
        subsection, a term or provision of a State law is not 
        inconsistent with the provisions of this subsection if the term 
        or provision affords greater protection to the consumer than 
        the protection provided under this subsection as determined by 
        the Bureau.''.

SEC. 209. ENSURES REMOVAL OF INQUIRIES RESULTING FROM IDENTITY THEFT, 
              FRAUD, OR OTHER RELATED CRIME FROM CONSUMER REPORTS.

    Section 605(a) of the Fair Credit Reporting Act (15 U.S.C. 
1681c(a)), as amended by section 103, is further amended by adding at 
the end the following:
            ``(17) Information about inquiries made for a credit report 
        based on requests that the consumer reporting agency verifies 
        were initiated as the result of identity theft, fraud, or other 
        related crime.''.

                        TITLE III--MISCELLANEOUS

SEC. 301. DEFINITIONS.

    Section 603 of the Fair Credit Reporting Act (15 U.S.C. 1681a) is 
further amended by adding at the end the following:
    ``(bb) Definitions Related to Days.--
            ``(1) Calendar day; day.--The term `calendar day' or `day' 
        means a calendar day, excluding any federally recognized 
        holiday.
            ``(2) Business day.--The term `business day' means a day 
        between and including Monday to Friday, and excluding any 
        federally recognized holiday.''.

SEC. 302. TECHNICAL CORRECTION RELATED TO RISK-BASED PRICING NOTICES.

    Section 615(h)(8) of the Fair Credit Reporting Act (15 U.S.C. 
1681m) is amended--
            (1) in subparagraph (A), by striking ``this section'' and 
        inserting ``this subsection''; and
            (2) in subparagraph (B), by striking ``This section'' and 
        inserting ``This subsection''.

SEC. 303. FCRA FINDINGS AND PURPOSE; VOIDS CERTAIN CONTRACTS NOT IN THE 
              PUBLIC INTEREST.

    (a) FCRA Findings and Purpose.--Section 602 of the Fair Credit 
Reporting Act (15 U.S.C. 1681(a)) is amended--
            (1) in subsection (a)--
                    (A) by amending paragraph (1) to read as follows:
    ``(1) Many financial and non-financial decisions affecting 
consumers' lives depend upon fair, complete, and accurate credit 
reporting. Inaccurate and incomplete credit reports directly impair the 
efficiency of the financial system and undermine the integrity of using 
credit reports in other circumstances, and unfair credit reporting and 
credit scoring methods undermine the public confidence which is 
essential to the continued functioning of the financial services system 
and the provision of many other consumer products and services.''; and
                    (B) in paragraph (4), by inserting after 
                ``agencies'' the following: ``, furnishers, and credit 
                scoring developers''; and
            (2) in subsection (b)--
                    (A) by striking ``It is the purpose of this title 
                to require'' and inserting the following: ``The purpose 
                of this title is the following:
            ``(1) To require''; and
                    (B) by adding at the end the following:
            ``(2) To prohibit any practices and procedures with respect 
        to credit reports and credit scores that are not in the public 
        interest.''.
    (b) Voiding of Certain Contracts Not in the Public Interest.--
            The Fair Credit Reporting Act (15 U.S.C. 1681 et seq.), as 
        amended by section 107, is further amended--
            (1) by adding at the end the following new section:
``Sec. 631. Voiding of certain contracts not in the public interest
    ``(a) In General.--Any provision contained in a contract that 
requires a person to not follow a provision of this title, that is 
against the public interest, or that otherwise circumvents the purposes 
of this title shall be null and void.
    ``(b) Rule of Construction.--Nothing in subsection (a) shall be 
construed as affecting other provisions of a contract that are not 
described under subsection (a).''; and
            (2) in the table of contents for such Act, by adding at the 
        end the following new item:

``631. Voiding of certain contracts not in the public interest.''.
                                 <all>