II 

118TH CONGRESS 

1ST SESSION S. 1327 

To amend the Fair Credit Reporting Act to require that a consumer authorize 

the release of certain information. 

IN THE SENATE OF THE UNITED STATES 

APRIL 26, 2023 

Mr. REED (for himself and Mr. VAN HOLLEN) introduced the following bill; 

which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs 

A BILL 

To amend the Fair Credit Reporting Act to require that 

a consumer authorize the release of certain information. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Consumer Credit Con5 trol Act of 2023’’. 

6 SEC. 2. PERMISSIBLE PURPOSES OF REPORTS. 

7 (a) IN GENERAL.—The Fair Credit Reporting Act 

8 (15 U.S.C. 1681 et seq.) is amended— 

9 (1) in section 604 (15 U.S.C. 1681b)— 


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1 (A) by striking subsections (c) through (e) 

2 and inserting the following: 

3 ‘‘(c) CONDITIONS FOR FURNISHING CERTAIN CON4 SUMER REPORTS.— 

5 ‘‘(1) IN GENERAL.—A consumer reporting 

6 agency may furnish a consumer report for the fol7 lowing purposes only if the consumer reporting agen8 cy obtains affirmative informed consent of the con9 sumer to furnish the consumer report and the con10 sumer reporting agency verifies the identity of the 

11 consumer by reviewing the proper identification re12 quired under section 610: 

13 ‘‘(A) An extension of credit pursuant to 

14 subsection (a)(3)(A). 

15 ‘‘(B) The underwriting of insurance pursu16 ant to subsection (a)(3)(C). 

17 ‘‘(2) ADDITIONAL REPORTS; ELECTION.—After 

18 the consumer reporting agency obtains affirmative 

19 informed consent of the consumer and verifies the 

20 identity of the consumer under paragraph (1), the 

21 consumer reporting agency may continue to furnish 

22 consumer reports solely for the purposes of review23 ing or collecting on an account described in subpara24 graphs (A) and (C) of subsection (a)(3). 


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1 ‘‘(3) FURNISHING REPORTS IN CONNECTION

2 WITH CREDIT OR INSURANCE TRANSACTIONS THAT

3 ARE NOT INITIATED BY CONSUMER.— 

4 ‘‘(A) IN GENERAL.—A consumer reporting 

5 agency may furnish a consumer report to a per6 son in connection with any credit or insurance 

7 transaction under subparagraph (A) or (C) of 

8 subsection (a)(3) that is not initiated by the 

9 consumer only if— 

10 ‘‘(i) the consumer reporting agency 

11 obtains affirmative informed consent of the 

12 consumer to furnish the consumer report 

13 and the consumer reporting agency verifies 

14 the identity of the consumer by reviewing 

15 the proper identification required under 

16 section 610; and 

17 ‘‘(ii) the transaction consists of a firm 

18 offer of credit or insurance. 

19 ‘‘(B) ELECTION.—The consumer may elect 

20 to— 

21 ‘‘(i) have the consumer’s name and 

22 addresses included in lists of names and 

23 addresses provided by the consumer report24 ing agency pursuant to subparagraphs (A) 

25 and (C) of subsection (a)(3) in connection 


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1 with any credit or insurance transaction 

2 that is not initiated by the consumer only 

3 if— 

4 ‘‘(I) the consumer reporting 

5 agency obtains affirmative informed 

6 consent of the consumer to furnish 

7 the consumer report and the con8 sumer reporting agency verifies the 

9 identity of the consumer by reviewing 

10 the proper identification required 

11 under section 610; and 

12 ‘‘(II) the transaction consists of 

13 a firm offer of credit or insurance; 

14 and 

15 ‘‘(ii) revoke at any time the election 

16 pursuant to clause (i) to have the con17 sumer’s name and address included in lists 

18 provided by a consumer reporting agency. 

19 ‘‘(C) INFORMATION REGARDING INQUIR20 IES.—Except as provided in section 609(a)(5), 

21 a consumer reporting agency shall not furnish 

22 to any person a record of inquiries in connec23 tion with a credit or insurance transaction that 

24 is not initiated by a consumer. 

25 ‘‘(4) DISCLOSURES.— 


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1 ‘‘(A) IN GENERAL.—A person may not 

2 procure a consumer report for any purpose pur3 suant to subparagraphs (D), (F), and (G) of 

4 subsection (a)(3) unless— 

5 ‘‘(i) a simple and easy to understand, 

6 as defined in section 1022.54(b) of title 

7 12, Code of Federal Regulations, as in ef8 fect on the date of enactment of the Con9 sumer Credit Control Act of 2023, disclo10 sure has been made to the consumer at 

11 any time before the report is procured or 

12 caused to be procured, that consists solely 

13 of the disclosure and the opportunity to 

14 provide the consent described in clause (ii), 

15 that a consumer report may be obtained 

16 for such purposes; and 

17 ‘‘(ii) the person has obtained affirma18 tive informed consent of the consumer for 

19 the procurement of the consumer report by 

20 that person. 

21 ‘‘(B) AUTHORIZATIONS.—The consent de22 scribed in subparagraph (A)(ii) shall be pro23 vided on the disclosure described under sub24 paragraph (A)(i). 


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1 ‘‘(5) RULEMAKING.—Not later than 270 days 

2 after the date of enactment of the Consumer Credit 

3 Control Act of 2023, the Director of the Bureau 

4 shall promulgate regulations that— 

5 ‘‘(A) implement this subsection; 

6 ‘‘(B) establish a model form for the disclo7 sure document pursuant to paragraph (4); 

8 ‘‘(C) permit consumers to provide affirma9 tive informed consent required by paragraph (1) 

10 for a specific time period for multiple users for 

11 the specified purpose during that time period; 

12 ‘‘(D) require a consumer reporting agen13 cy— 

14 ‘‘(i) to provide to each consumer a se15 cure, convenient, accessible, and cost-free 

16 method, including by toll-free telephone or 

17 secure electronic means, by which a con18 sumer may— 

19 ‘‘(I) provide or revoke any af20 firmative informed consent pursuant 

21 to this subsection; and 

22 ‘‘(II) make or revoke any election 

23 pursuant to paragraph (3)(B); 

24 ‘‘(ii) to implement any provision or 

25 revocation of affirmative informed consent 


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1 pursuant to this subsection not later than 

2 1 business day after the date on which a 

3 consumer provides or revokes affirmative 

4 informed consent; and 

5 ‘‘(iii) to implement any election or 

6 revocation of any election pursuant to 

7 paragraph (3)(B) not later than 1 business 

8 day after the date on which a consumer 

9 makes or revokes an election; and 

10 ‘‘(E) define what constitutes affirmed in11 formative consent in the manner that provides 

12 the greatest protection to consumers. 

13 ‘‘(6) PROHIBITIONS.— 

14 ‘‘(A) IN GENERAL.—The method described 

15 in paragraph (5)(D) shall not be used to— 

16 ‘‘(i) collect any information on a con17 sumer that is not necessary for the pur18 pose of the consumer to allow or disallow 

19 the furnishing of consumer reports; or 

20 ‘‘(ii) advertise any product or service. 

21 ‘‘(B) NO WAIVER.—In the offering of a 

22 method described in paragraph (5)(D), a con23 sumer reporting agency shall not require a con24 sumer to waive any rights nor indemnify the 


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1 consumer reporting agency from any liabilities 

2 arising from the offering of such method. 

3 ‘‘(7) REPORTS.— 

4 ‘‘(A) CFPB.— 

5 ‘‘(i) RECOMMENDATION.—Not later 

6 than 270 days after the date of enactment 

7 of the Consumer Credit Control Act of 

8 2023, the Director of the Bureau shall, 

9 after consultation with the Federal Deposit 

10 Insurance Corporation, the National Credit 

11 Union Administration, the Consumer Advi12 sory Board, and other Federal and State 

13 regulators as the Director of the Bureau 

14 determines are appropriate, submit to the 

15 Committee on Banking, Housing, and 

16 Urban Affairs of the Senate and the Com17 mittee on Financial Services of the House 

18 of Representatives recommendations on 

19 how to provide consumers greater trans20 parency and personal control over their 

21 consumer reports furnished for permissible 

22 purposes under subsections (a)(3)(E) and 

23 (a)(6). 

24 ‘‘(ii) REPORT.—The Director of the 

25 Bureau shall submit to the Committee on 


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1 Banking, Housing, and Urban Affairs of 

2 the Senate and the Committee on Finan3 cial Services of the House of Representa4 tives an annual report that includes— 

5 ‘‘(I) recommendations on how 

6 this subsection may be improved; 

7 ‘‘(II) a description of efforts to 

8 educate consumers of their rights 

9 under this subsection; 

10 ‘‘(III) a description of enforce11 ment actions taken to demonstrate 

12 compliance with this subsection; 

13 ‘‘(IV) recommendations on how 

14 to improve oversight of consumer re15 porting agencies and users of con16 sumer reports; and 

17 ‘‘(V) any other recommendations 

18 concerning how consumers may be 

19 provided greater transparency and 

20 control over their personal informa21 tion. 

22 ‘‘(B) GAO.— 

23 ‘‘(i) STUDY.—The Comptroller Gen24 eral of the United States shall conduct a 

25 study on what additional protections or reVerDate Sep 11 2014 22:31 May 03, 2023 Jkt 039200 PO 00000 Frm 00009 Fmt 6652 Sfmt 6201 E:\BILLS\S1327.IS S1327

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1 strictions may be needed to ensure that the 

2 information collected in consumer files is 

3 secure and does not adversely impact con4 sumers. 

5 ‘‘(ii) REPORT.—Not later than 1 year 

6 after the date of enactment of the Con7 sumer Credit Control Act of 2023, the 

8 Comptroller General of the United States 

9 shall submit to the Committee on Banking, 

10 Housing, and Urban Affairs of the Senate 

11 and the Committee on Financial Services 

12 of the House of Representatives a report 

13 on the results of the study under clause 

14 (i), which shall include— 

15 ‘‘(I) to the greatest extent pos16 sible, the presentation of unambiguous 

17 conclusions and specific recommenda18 tions for further legislative changes 

19 needed to ensure that the information 

20 collected in consumer files is secure 

21 and does not adversely impact con22 sumers; and 

23 ‘‘(II) if no recommendations for 

24 further legislative changes are preVerDate Sep 11 2014 22:31 May 03, 2023 Jkt 039200 PO 00000 Frm 00010 Fmt 6652 Sfmt 6201 E:\BILLS\S1327.IS S1327

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1 sented, a detailed explanation of why 

2 no such changes are recommended.’’; 

3 (B) by redesignating subsections (f) and 

4 (g) as subsections (d) and (e), respectively; and 

5 (C) by adding at the end the following: 

6 ‘‘(f) NO FEES.—No consumer reporting agency may 

7 charge a consumer any fee for any activity pursuant to 

8 or as a result of this section.’’; 

9 (2) in section 607(a) (15 U.S.C. 1681e(a))— 

10 (A) in the third sentence, by striking 

11 ‘‘make a reasonable effort’’ and inserting ‘‘use 

12 commercially reasonable efforts’’; and 

13 (B) by inserting ‘‘Every consumer report14 ing agency shall use commercially reasonable ef15 forts to avoid unauthorized access to consumer 

16 reports and information in the file of a con17 sumer maintained by the consumer reporting 

18 agency, including complying with any appro19 priate standards established under section 

20 501(b) of the Gramm-Leach-Bliley Act (15 

21 U.S.C. 6801(b)).’’ after the end of the third 

22 sentence; 

23 (3) in section 609 (15 U.S.C. 1681g), by strik24 ing subsection (b) and inserting the following: 


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1 ‘‘(b) SCOPE OF DISCLOSURE.—The Director of the 

2 Bureau shall promulgate regulations to clarify that any 

3 disclosure required by subsection (a) shall be made to the 

4 consumer when a consumer makes a request, irrespective 

5 of whether the information required to be disclosed is held 

6 by the parent, subsidiary, or affiliate of a consumer re7 porting agency.’’; and 

8 (4) in section 610(a)(1) (15 U.S.C. 

9 1681h(a)(1))— 

10 (A) by inserting ‘‘, implementing the provi11 sion or revocation of any affirmative informed 

12 consent, or implementing any election or rev13 ocation of any election’’ after ‘‘disclosures’’; and 

14 (B) by striking ‘‘section 609’’ and insert15 ing ‘‘sections 604 and 609’’. 

16 (b) TECHNICAL AND CONFORMING AMENDMENTS.— 

17 The Fair Credit Reporting Act (15 U.S.C. 1681 et seq.) 

18 is amended— 

19 (1) in section 603(d)(3) (15 U.S.C. 

20 1681a(d)(3)), in the matter preceding subparagraph 

21 (A), by striking ‘‘604(g)(3)’’ and inserting 

22 ‘‘604(e)(3)’’; 

23 (2) in section 605A (15 U.S.C. 1681c–1)— 

24 (A) by striking subsections (i) and (j); and 


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1 (B) by redesignating subsection (k) as sub2 section (i); 

3 (3) in section 615(d) (15 U.S.C. 1681m(d))— 

4 (A) in paragraph (1)— 

5 (i) in the matter preceding subpara6 graph (A), by striking ‘‘604(c)(1)(B)’’ and 

7 inserting ‘‘604(c)(3)(A)(ii)’’; and 

8 (ii) in subparagraph (E), by striking 

9 ‘‘604(e)’’ and inserting ‘‘604(c)(5)(D)’’; 

10 and 

11 (B) in paragraph (2)(A), by striking 

12 ‘‘604(e)’’ and inserting ‘‘604(c)(5)(D)’’; and 

13 (4) in section 625(b)(1) (15 U.S.C. 

14 1681t(b)(1))— 

15 (A) in subparagraph (A), by striking ‘‘sub16 section (c) or (e) of section 604’’ and inserting 

17 ‘‘604(c)(3)’’; 

18 (B) in subparagraph (I), by adding ‘‘or’’ at 

19 the end; 

20 (C) by striking subparagraph (J); and 

21 (D) by redesignating subparagraph (K) as 

22 subparagraph (J). 

23 (c) APPLICABILITY.—The amendments made by sub24 sections (a) and (b) shall apply to a consumer report, as 


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1 defined in section 603 of the Fair Credit Reporting Act 

2 (15 U.S.C. 1681a), furnished after the earlier of— 

3 (1) the date on which the regulations promul4 gated by the Director of the Bureau of Consumer 

5 Financial Protection under subsection (c)(5) of sec6 tion 604 of the Fair Credit Reporting Act (15 

7 U.S.C. 1681b), as amended by subsection (a) of this 

8 section, require compliance; and 

9 (2) the date that is 18 months after the date 

10 of enactment of this Act. 

Æ 


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