117 
(F) in paragraph (5)— 
(i) by striking ‘‘, other than records of 
convictions of crimes’’; and 
(ii) by striking ‘‘seven years’’ and in-
serting ‘‘4 years, except as required by sec-
tion 605C, 605D, 605E, or 605F’’; and 
(G) by adding at the end the following new 
paragraphs: 
‘‘(7) 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. 
‘‘(8) A civil suit or civil judgment— 
‘‘(A) brought by a private education loan 
holder that, from the date of successful comple-
tion of credit restoration or rehabilitation in ac-
cordance with the requirements of section 605D 
or 605E, antedates the report by 45 calendar 
days; or 
‘‘(B) brought by a lender with respect to 
a covered residential mortgage loan that ante-
dates the report by 45 calendar days. 
‘‘(9) Records of convictions of crimes which 
antedate the report by more than 7 years. 
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‘‘(10) Any other adverse item of information re-
lating to the collection of debt that did not arise 
from a contract or an agreement to pay by a con-
sumer, including fines, tickets, and other assess-
ments, 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. 402. 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 401(a)(1), is fur-
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ther amended by adding at the end the following new para-
graph: 
‘‘(11) Any other adverse item of information re-
lated to a fully paid or settled debt that had been 
characterized as delinquent, charged off, or in collec-
tion which, from the date of payment or settlement, 
antedates the report by more than 45 calendar 
days.’’. 
SEC. 403. IMPOSES RESTRICTIONS ON THE APPEARANCE 
OF MEDICAL COLLECTIONS ON CONSUMER 
REPORTS AND REQUIRES THE EXPEDITED 
REMOVAL OF FULLY PAID OR SETTLED MED-
ICAL COLLECTIONS FROM CONSUMER RE-
PORTS. 
(a) REMOVAL OF FULLY PAID OR SETTLED MED-
ICAL DEBT FROM CONSUMER REPORTS.—Section 605(a) 
of the Fair Credit Reporting Act (15 U.S.C. 1681c(a)), 
as amended by section 402, is further amended by adding 
at the end the following new paragraph: 
‘‘(12) Any other adverse item of information re-
lated to a fully paid or settled debt arising from the 
receipt of medical services, products, or devices that 
had been characterized as delinquent, charged off, or 
in collection which, from the date of payment or set-
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tlement, antedates the report by more than 45 cal-
endar days.’’. 
(b) ESTABLISHING AN EXTENDED TIME PERIOD BE-
FORE
MEDICAL
DEBT
INFORMATION
MAY
BE
RE-
PORTED.—Section 605(a) of such Act is further amended 
by adding at the end the following new paragraph: 
‘‘(13) Any information related to a debt arising 
from the receipt of medical services, products, or de-
vices, if the date on which such debt was placed for 
collection, charged to profit or loss, or subjected to 
any similar action antedates the report by less than 
180 calendar days.’’. 
(c) 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. 404. 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 605B the following new section: 
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‘‘§ 605C. Credit restoration for victims of predatory 
mortgage lending 
‘‘(a) IN GENERAL.—A consumer reporting agency 
may not furnish any consumer report containing any ad-
verse 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 inac-
tion to which the item of information relates— 
‘‘(1) resulted from an unfair, deceptive, or abu-
sive act or practice, or a fraudulent, discriminatory, 
or illegal activity of a financial institution, as deter-
mined by the Bureau or a court of competent juris-
diction; or 
‘‘(2) is related to an unfair, deceptive, or abu-
sive 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 DE-
FINED.—In this section, the term ‘covered residential 
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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 in-
terest on a dwelling (as defined in section 103(w) of the 
Truth in Lending Act), including a loan in which the pro-
ceeds will be used for— 
‘‘(1) a manufactured home (as defined in sec-
tion 603 of the Housing and Community Develop-
ment Act of 1974 (42 U.S.C. 5402)); 
‘‘(2) any installment sales contract, land con-
tract, 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 605B the 
following new item: 
‘‘605C. 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. 
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SEC. 405. PROVIDES CREDIT RELIEF FOR PRIVATE EDU-
CATION LOANS BORROWERS WHO WERE DE-
FRAUDED OR MISLEAD BY PROPRIETARY 
EDUCATION INSTITUTION OR CAREER EDU-
CATION PROGRAMS. 
(a) IN GENERAL.—The Fair Credit Reporting Act 
(15 U.S.C. 1681 et seq.), as amended by section 404, is 
further amended by inserting after section 605C the fol-
lowing new section: 
‘‘§ 605D. Private education loan credit restoration for 
defrauded student borrowers who attend 
certain proprietary educational institu-
tion or career education programs 
‘‘(a) PROCESS FOR CERTIFICATION AS A QUALIFYING 
PRIVATE EDUCATION LOAN BORROWER.— 
‘‘(1) IN GENERAL.—A consumer, or an indi-
vidual acting on behalf of or as a personal represent-
ative of the consumer or a class of consumers, 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 quali-
fying private education loan borrower with respect to 
a private education loan if the Bureau or a court of 
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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 con-
sumer reporting agency shall remove any adverse informa-
tion 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 re-
sults of a certification determination in writing to the con-
sumer that provides a clear and concise explanation of the 
basis for the determination of whether such consumer or 
class of consumers 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 or an 
individual acting on behalf of or as a personal rep-
resentative of the consumer or a class of consumers 
to submit a request described in subsection (a); 
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‘‘(2) establish procedures to efficiently review, 
accept, and process such a request; 
‘‘(3) develop ongoing outreach initiatives and 
education programs to inform consumers or a class 
of consumers of the circumstances under which such 
consumer or class may be eligible to be certified as 
a qualifying private education loan borrower with re-
spect to a private education loan; 
‘‘(4) establish procedures, including the man-
ner, form, and content of the notice informing a pri-
vate educational loan holder of the prohibition on re-
porting 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 man-
ner, form, and content of the notice informing a con-
sumer reporting agency of the obligation to remove 
any adverse information as described in subsection 
(c). 
‘‘(e) STANDARDIZED REPORTING CODES.—A con-
sumer reporting agency shall develop standardized report-
ing codes for use by private education loan holders to iden-
tify and report a qualifying private education loan bor-
rower’s status of a request to remove any adverse informa-
tion relating to any private education loan with respect 
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to which such consumer is a qualifying private education 
loan borrower. A consumer report in which a person fur-
nishes such codes shall be deemed to comply with the re-
quirements 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 re-
moved from the consumer’s credit report upon the success-
ful restoration of the consumer’s credit under this section. 
‘‘(f) DEFRAUDMENT CLAIM DEFINED.—For pur-
poses of this section, the term ‘defraudment claim’ means 
a claim made with respect to a consumer who is a bor-
rower of a private education loan with respect to a propri-
etary educational institution or career education program 
in which the consumer or an individual acting on behalf 
of or as a personal representative of the consumer or a 
class of consumers 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, dis-
criminatory, or illegal activity— 
‘‘(i) as defined by State law of the 
State in which the proprietary educational 
institution or career education program is 
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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 assist-
ance, or any other action relating to an unfair, 
deceptive, or abusive act or practice that is be-
tween the proprietary educational institution or 
career education program and an agency or de-
partment of a local, State, or Federal Govern-
ment; or 
‘‘(C) misrepresented facts to students or 
accrediting agencies or associations about grad-
uation or gainful employment rates in recog-
nized occupations or failed to provide the 
coursework necessary for students to success-
fully obtain a professional certification or de-
gree from the proprietary educational institu-
tion or career education program; or 
‘‘(2) the consumer or an individual acting on 
behalf of or as a personal representative of the con-
sumer or a class of consumers has submitted a valid 
defense to repayment claim with respect to such 
loan, as determined by the Secretary of Education.’’. 
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(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 (as 
added by section 404) the following new item: 
‘‘605D. Private education loan credit restoration for defrauded student bor-
rowers from certain proprietary educational institution or ca-
reer education programs.’’. 
SEC. 406. ESTABLISHES RIGHT FOR VICTIMS OF FINANCIAL 
ABUSE TO HAVE ADVERSE INFORMATION AS-
SOCIATED WITH AN ABUSER’S FRAUDULENT 
ACTIVITY REMOVED FROM THEIR CONSUMER 
REPORTS. 
(a) IN GENERAL.—The Fair Credit Reporting Act 
(15 U.S.C. 1681 et seq.), as amended by section 301, is 
further amended by inserting after section 605E the fol-
lowing new section: 
‘‘§ 605F. Financial abuse prevention 
‘‘For a consumer who is the victim of intentionally 
abusive or harmful financial behavior, as determined by 
a court of competent jurisdiction including a family court, 
juvenile court, or other court with personal jurisdiction, 
that was conducted by a spouse, family or household mem-
ber, caregiver, or person with whom such consumer had 
a dating relationship in a manner which resulted in the 
inclusion of an adverse item of information on the con-
sumer report of the consumer, and the consumer did not 
participate in or consent to such behavior, the consumer 
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may apply to a court of competent jurisdiction, including 
a family court, juvenile court, or other court with personal 
jurisdiction, for an order to require the removal of such 
adverse information from the consumer’s file maintained 
by any consumer reporting agency.’’. 
(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 301) the following new item: 
‘‘605F. Financial abuse prevention.’’. 
SEC. 407. PROHIBITS TREATMENT OF CREDIT RESTORA-
TION OR REHABILITATION AS ADVERSE IN-
FORMATION. 
The Fair Credit Reporting Act (15 U.S.C. 1681 et 
seq.) is amended— 
(1) by adding at the end the following new sec-
tion: 
‘‘§ 630. Prohibition of certain factors related to Fed-
eral credit restoration or rehabilitation 
‘‘(a) RESTRICTION ON CREDIT SCORING MODELS.— 
A credit scoring model may not— 
‘‘(1) take into consideration, in a manner ad-
verse to a consumer’s credit score or educational 
credit score, any information in a consumer report 
concerning the consumer’s participation in credit 
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restoration or rehabilitation under section 605C, 
605D, 605E, or 605F; or 
‘‘(2) treat negatively, in a manner adverse to a 
consumer’s credit score or educational 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 605C, 605D, 605E, or 
605F. 
‘‘(b) RESTRICTION ON PERSONS OBTAINING CON-
SUMER REPORTS.—A person who obtains a consumer re-
port may not— 
‘‘(1) take into consideration, in a manner ad-
verse to a consumer, any information in a consumer 
report concerning the consumer’s participation in 
credit restoration or rehabilitation under section 
605C, 605D, 605E, or 605F; or 
‘‘(2) treat negatively the absence of payment 
history data for an existing account, whether the ac-
count is open or closed, where the absence of such 
information is the result of a consumer’s participa-
tion in credit restoration or rehabilitation under sec-
tion 605C, 605D, 605E, or 605F. 
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‘‘(c) ACCURACY AND COMPLETENESS.—If a person 
who furnishes information to a consumer reporting agency 
requests the removal of information from a consumer re-
port or a consumer reporting agency removes information 
from a consumer report in compliance with the require-
ments under section 605C, 605D, 605E, or 605F, or such 
information was removed pursuant at section 605(a)(11), 
such report shall be deemed to satisfy the requirements 
for accuracy and completeness with respect to such infor-
mation. 
‘‘(d) 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 605C, 
605D, 605E, or 605F in connection with any determina-
tion of— 
‘‘(1) the consumer’s eligibility or continued eli-
gibility for an extension of credit; 
‘‘(2) the terms and conditions offered to a con-
sumer 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 reha-
bilitation.’’. 
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TITLE V—MONITORING THE DE-
VELOPMENT 
AND 
USE 
OF 
CREDIT SCORES 
SEC. 501. ESTABLISHES CLEAR FEDERAL OVERSIGHT OF 
THE DEVELOPMENT OF CREDIT SCORING 
MODELS BY THE BUREAU. 
The Fair Credit Reporting Act (15 U.S.C. 1681 et 
seq.), as amended by section 407, is further amended— 
(1) by adding at the end the following new sec-
tion: 
‘‘§ 631. Credit scoring models 
‘‘(a) VALIDATED CREDIT SCORING MODELS.—Not 
later than 1 year after the date of enactment of this sec-
tion, the Bureau shall issue final regulations applicable to 
a person that creates, maintains, or purchases credit scor-
ing models used in making credit decisions to establish 
standards for validating the accuracy and predictive value 
of all such credit scoring models, both before release for 
initial use and at regular intervals thereafter, for as long 
as such credit scoring models are made available for pur-
chase or use by such person. 
‘‘(b) PROHIBITION.—At least once every 2 years, the 
Bureau shall conduct a review of credit scoring models to 
determine whether the use of any particular factors, or 
the weight or consideration given to certain factors by 
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credit scoring models, is inappropriate, including if such 
factors do not enhance or contribute to the accuracy and 
predictive value of the models. Upon the conclusion of its 
review, the Bureau may prohibit a person described in 
subsection (a) from weighing, considering, or including 
certain factors in, or making available for purchase or use, 
certain credit scoring models or versions, as the Bureau 
determines appropriate. 
‘‘(c) COMPLIANCE.—The Bureau is authorized to en-
force compliance with this section by a person described 
in subsection (a).’’; and 
(2) in the table of contents for such Act, by in-
serting after the item relating to section 630 (as 
added by section 407) the following new item: 
‘‘631. Credit scoring models.’’. 
SEC. 502. MANDATES ONGOING REVIEW AND REPORTS TO 
CONGRESS BY THE FEDERAL HOUSING FI-
NANCE AGENCY ON USING ADDITIONAL, AL-
TERNATIVE, AND UPDATED CREDIT SCORING 
MODELS AS PART OF THE CRITERIA FOR 
LOANS PURCHASED BY FANNIE MAE AND 
FREDDIE MAC. 
(a) BIENNIAL REVIEW.—The Director of the Federal 
Housing Finance Agency, in consultation with the Direc-
tor of the Bureau of Consumer Financial Protection, shall 
review the advantages and disadvantages of implementing 
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additional, alternative, or updated credit scoring models 
(as defined in section 603 of the Fair Credit Reporting 
Act (15 U.S.C. 1681a)) used to establish the eligibility 
criteria for loans purchased by the Federal National Mort-
gage Association and the Federal Home Loan Mortgage 
Corporation. Such review shall analyze— 
(1) the impact of using such credit scoring 
models on the accuracy and predictive value of the 
performance of loans purchased by the Federal Na-
tional Mortgage Association and the Federal Home 
Loan Mortgage Corporation; 
(2) the ability of the Federal National Mort-
gage Association and the Federal Home Loan Mort-
gage Corporation to more effectively manage credit 
risks by adopting additional, alternative, or updated 
credit scoring models; 
(3) any potential operational risks associated 
with the reliance on one single provider of credit 
scores; 
(4) the availability and affordability of covered 
residential mortgage loans, as defined in section 
605C of the Fair Credit Reporting Act; 
(5) the interests of taxpayers; and 
(6) any other factors determined relevant by 
the Director of the Federal Housing Finance Agency 
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or the Director of the Bureau of Consumer Finan-
cial Protection. 
(b) PUBLIC PARTICIPATION.—The Director of the 
Federal Housing Finance Agency shall seek public input 
about the methodology and research design of the review 
described in subsection (a), including from organizations 
and experts representing racial and ethnic minority com-
munities and populations, fair lending organizations, civil 
rights organizations, and consumer and community groups 
that represent depository institutions and credit unions 
that primarily serve traditionally underserved commu-
nities. 
(c) REPORTS.—Not later than the end of the 18- 
month period beginning on the date of the enactment of 
this Act, and every 2 years thereafter, the Director of the 
Federal Housing Finance Agency shall issue a report to 
the Committee on Financial Services of the House of Rep-
resentatives and the Committee on Banking, Housing, and 
Urban Affairs of the Senate containing all findings and 
determinations made in carrying out the review required 
under subsection (a). 
(d) IMPLEMENTATION OF FINDINGS.—If the Director 
of the Federal Housing Finance Agency determines, in 
consultation with the Bureau, that the advantages of im-
plementing additional, alternative, or updated credit scor-
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ing models outweigh the disadvantages, the Director shall 
promptly require the Federal National Mortgage Associa-
tion and the Federal Home Loan Mortgage Corporation 
to revise their seller-servicer guidelines to allow for the use 
of such additional, alternative, or updated credit scoring 
models, and any other guidelines as the Director deter-
mines appropriate, in a manner consistent with the deter-
mination of the Director. 
SEC. 503. REQUIRES A BUREAU STUDY AND REPORT TO 
CONGRESS ON THE IMPACT OF USING NON- 
TRADITIONAL DATA. 
(a) STUDY.—The Bureau of Consumer Financial 
Protection shall carry out a study of the impact on the 
availability and affordability of credit by the inclusion of 
non-traditional data on a consumer report (as defined in 
section 603 of the Fair Credit Reporting Act (15 U.S.C. 
1681a)) used in connection with a credit transaction in-
volving the extension of credit to, or review or collection 
of an account of, the consumer, including a review of the 
advantages or disadvantages to consumers with minimal 
traditional credit history, traditionally underserved com-
munities and populations, and racial and ethnic minori-
ties. 
(b) REPORT.—Not later than the end of the 1-year 
period following the date of the enactment of this Act, the 
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Bureau shall issue a report to the Committee on Financial 
Services of the House of Representatives and the Com-
mittee on Banking, Housing, and Urban Affairs of the 
Senate containing all findings and determinations made 
in carrying out the study required under subsection (a). 
(c) NON-TRADITIONAL DATA DEFINED.—For pur-
poses of this section, the term ‘‘non-traditional data’’ 
means data related to telecommunications, utility pay-
ments, rent payments, remittances, wire transfers, and 
such other items as the Bureau determines appropriate. 
TITLE VI—PROVIDING GREATER 
CONSUMER ACCESS TO AND 
UNDERSTANDING 
OF 
CON-
SUMER REPORTS AND CRED-
IT SCORES 
SEC. 601. CREDIT SCORE AND EDUCATIONAL CREDIT 
SCORE DEFINITIONS. 
(a) IN GENERAL.—Section 603 of the Fair Credit 
Reporting Act (15 U.S.C. 1681a), as amended by section 
302, is further amended by adding at the end the following 
new subsection: 
‘‘(aa) CREDIT SCORE AND EDUCATIONAL CREDIT 
SCORE DEFINITIONS.— 
‘‘(1) CREDIT SCORE.—The term ‘credit score’ 
means a numerical value or a categorization derived 
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from a statistical tool or modeling system used by a 
person who makes or arranges a loan or extends 
credit to predict the likelihood of certain credit be-
haviors, including default, as determined by the Bu-
reau. 
‘‘(2) EDUCATIONAL CREDIT SCORE.—The term 
‘educational credit score’ means a numerical value or 
categorization derived from a statistical tool or mod-
eling system based upon information from a con-
sumer report that assists consumers in under-
standing how a lender or creditor may view the con-
sumer’s creditworthiness in deciding whether to 
make a loan or extend credit to that consumer. 
‘‘(3) KEY
FACTORS.—The term ‘key factors’ 
means relevant elements or reasons affecting the 
credit score for the particular individual, listed in 
the order of importance based on the effect of each 
element or reason on the credit score or educational 
credit score. 
‘‘(4) CREDIT
SCORING
MODEL.—The term 
‘credit scoring model’ means a scoring algorithm, 
formula, model, program, or mechanism used to gen-
erate a credit score or an educational credit score.’’. 
(b) CONFORMING AMENDMENTS.—The Fair Credit 
Reporting Act (15 U.S.C. 1681 et seq.) is amended— 
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(1) in section 605(c)(2) (as so redesignated by 
section 103), by striking ‘‘(as defined in section 
609(f)(2)(B))’’; and 
(2) in section 615— 
(A) by striking ‘‘as defined in section 
609(f)(2)(A)’’ each place that term appears; 
and 
(B) by striking ‘‘set forth in subpara-
graphs (B) through (E) of section 609(f)(1)’’ 
and inserting ‘‘with respect to a credit score de-
scribed in section 609(f)(2), if available’’ each 
place that term appears. 
SEC. 602. EXPANDS EXPLANATORY INFORMATION GIVEN TO 
CONSUMERS ABOUT HOW SCORES ARE CAL-
CULATED. 
Section 609(f) of the Fair Credit Reporting Act (15 
U.S.C. 1681g(f)) is amended to read as follows: 
‘‘(f) DISCLOSURE
OF CREDIT SCORE
AND EDU-
CATIONAL CREDIT SCORE
BY CONSUMER REPORTING 
AGENCIES.— 
‘‘(1) IN GENERAL.—Upon the request of a con-
sumer for a credit score or educational credit score, 
a consumer reporting agency shall supply to the con-
sumer a statement— 
‘‘(A) containing— 
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‘‘(i) in the form of a bar graph con-
taining a minimum of 6 bars that illus-
trates the percentage of consumers with 
credit scores or educational credit scores 
within the range of scores represented by 
each bar; or 
‘‘(ii) by another clear and readily un-
derstandable graphical depiction, state-
ment, or illustration comparing the con-
sumer’s credit score or educational credit 
score to the scores of other consumers, as 
determined by the Bureau; 
‘‘(F) the date on which the credit score or 
educational credit score was created; and 
‘‘(G) the name of the person that devel-
oped the credit scoring model on which the 
credit score or educational credit score was 
based. 
‘‘(3) APPLICABILITY TO CERTAIN USES.—This 
subsection shall not be construed so as to compel a 
consumer reporting agency to— 
‘‘(A) develop or disclose a credit score if 
the agency does not distribute credit scores 
used by a person who makes or arranges a loan 
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or extends credit to predict the likelihood of 
certain credit behaviors; or 
‘‘(B) develop or disclose an educational 
credit score if the agency does not develop edu-
cational credit scores that assist in under-
standing the general credit behavior of a con-
sumer and predicting the future credit behavior 
of the consumer. 
‘‘(4) MAINTENANCE OF CREDIT SCORES.— 
‘‘(A) IN GENERAL.—All consumer report-
ing agencies shall maintain in the consumer’s 
file credit scores relating to the consumer for a 
period of 2 years from the date on which such 
information is generated. 
‘‘(B) 
DISCLOSURE
ONLY
TO
CON-
SUMERS.—A past credit score maintained in a 
consumer’s file pursuant to subparagraph (A) 
may only be provided to the consumer to which 
the credit score relates and may not be included 
in a consumer report or used as a factor in gen-
erating a credit score or educational credit 
score. 
‘‘(C) 
REMOVAL
OF
PAST
CREDIT 
SCORES.—A past credit score maintained in a 
consumer’s file pursuant to subparagraph (A) 
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shall be removed from the consumer’s file after 
the end of the 2-year period described under 
subparagraph (A).’’. 
SEC. 603. REQUIRES CONSUMER REPORTING AGENCIES TO 
DISCLOSE PROMINENTLY THE DIFFERENCES 
BETWEEN 
AND 
LIMITATIONS 
OF 
CREDIT 
SCORES AND EDUCATIONAL CREDIT SCORES 
REQUIRED PRIOR TO A CONSUMER OBTAIN-
ING SUCH SCORES. 
Section 609(f) of the Fair Credit Reporting Act (15 
U.S.C. 1681g(f)), as amended by section 602, is further 
amended by adding at the end the following new para-
graphs: 
‘‘(5) WEBSITE DISCLAIMER.—A consumer re-
porting agency that generates or provides credit 
scores or educational credit scores shall clearly and 
conspicuously display on the home page of the agen-
cy’s Internet website, and as part of any application, 
solicitation, or marketing material or media pro-
viding information related to a credit score or edu-
cational credit score, the following notice, in boldface 
type of 18-point font or larger and in a text box 
with boldface outer borders: 
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‘‘ ‘CREDIT SCORE DISCLAIMER. 
‘‘ ‘There is no ‘‘one’’ credit score. There are many 
scoring formulas derived from a wide variety of models 
available to a consumer and used by lenders and creditors. 
Different lenders and creditors use different scoring for-
mulas to determine whether to extend credit or make a 
loan to you, and the terms of the credit or loan. An edu-
cational credit score is not a credit score that a person 
who makes a loan or extends credit to you is likely to use. 
Educational credit scores are merely intended to be used 
as an educational tool to help consumers understand how 
the information contained in a consumer report may affect 
the terms and conditions of a loan or extension of credit 
that may be available to a consumer. Lenders and credi-
tors may also rely on information not contained in your 
consumer report and not reflected in the calculation of 
your credit score.’. 
‘‘(6) ADDITIONAL
REQUIREMENTS
FOR
EDU-
CATIONAL CREDIT SCORES.— 
‘‘(A) 
DISCLAIMER.—If 
an 
educational 
credit score is provided pursuant to paragraph 
(1), a consumer reporting agency shall clearly 
and conspicuously include in a prominent loca-
tion on the statement, in boldface type of 18- 
point font or larger, and in a text box with 
boldface outer borders, the following notice: 
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‘‘ ‘EDUCATIONAL CREDIT SCORE DISCLAIMER. 
‘‘ ‘The educational credit score provided to you is not 
a credit score that a lender or creditor is likely to use to 
make a loan or extend credit to you. There are many dif-
ferent credit scores derived from a wide variety of models 
used by lenders and creditors. An educational credit score 
is merely an educational tool. It is intended to provide con-
sumers with a basic understanding of how the information 
contained in a consumer report may affect the terms and 
conditions of credit that are available. The credit scores 
you receive directly from different lenders and creditors 
may not be the same as an educational credit score. There 
are a number of reasons for this: 
‘‘ ‘(1) Each company may use a different for-
mula for calculating credit scores and the differences 
in the formulas may lead to differences in your 
scores. 
‘‘ ‘(2) Companies may produce scores that give 
results on different scales. 
‘‘ ‘(3) Not all lenders or creditors report to 
every consumer reporting agency, and therefore the 
information contained in your consumer report that 
the consumer reporting agencies use to calculate 
your educational credit score may differ among 
agencies.’. 
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‘‘(B) PROHIBITION ON MISLEADING REP-
RESENTATIONS.—A consumer reporting agency 
may not refer to an educational credit score as 
a credit score in any application, solicitation, 
marketing, or other informational materials or 
media. 
‘‘(7) MODIFICATION
OF
DISCLAIMERS.—The 
Bureau may modify the content, format, and man-
ner of the disclaimers required under paragraphs (5) 
and (6), if warranted, after conducting consumer 
testing or research.’’. 
SEC. 604. PROVIDES CONSUMERS WITH FREE CREDIT 
SCORE DISCLOSURES WITH THEIR FREE AN-
NUAL CONSUMER REPORTS UPON REQUEST 
AND 
CREATES 
INSTANCES 
WHEN 
CON-
SUMERS 
AUTOMATICALLY 
RECEIVE 
FREE 
CONSUMER REPORTS AND CREDIT SCORES. 
(a) IN GENERAL.—Section 612 of the Fair Credit 
Reporting Act (15 U.S.C. 1681j) is amended— 
(1) in subsection (a)— 
(A) in paragraph (1)— 
(i) in subparagraph (A), by inserting 
after ‘‘section 609’’ the following: ‘‘(includ-
ing the disclosure of a credit score or edu-
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148 
cational credit score under subsection (f) 
of such section)’’; and 
(ii) in subparagraph (C)— 
(I) by striking ‘‘Commission’’ 
and inserting ‘‘Bureau’’; 
(II) by inserting ‘‘, credit scores, 
and educational credit scores (as ap-
plicable)’’ after ‘‘consumer reports’’ 
each place that term appears; and 
(III) in clause (i), by inserting 
‘‘and through the Internet website es-
tablished under section 611(g)’’ after 
‘‘such requests’’; 
(B) in paragraph (2)— 
(i) by striking ‘‘15 days’’ and insert-
ing ‘‘3 business days’’; and 
(ii) by inserting ‘‘, credit score, or 
educational credit score’’ after ‘‘consumer 
report’’; 
(C) in paragraph (3), by inserting ‘‘, credit 
score, or educational credit score’’ after ‘‘con-
sumer report’’; and 
(D) in paragraph (4), by inserting ‘‘, credit 
scores, or educational credit scores’’ after ‘‘con-
sumer reports’’; 
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(2) in subsection (b), by inserting ‘‘(including 
the disclosure of a credit score or educational credit 
score, as applicable, under subsection (f) of such sec-
tion)’’ after ‘‘section 609’’; 
(3) in subsection (c)— 
(A) by inserting ‘‘(including the disclosure 
of a credit score or educational credit score 
under subsection (f) of such section)’’ after 
‘‘pursuant to section 609’’; 
(B) in paragraph (2), by striking ‘‘; or’’ 
and inserting a semicolon; 
(C) in paragraph (3), by striking the pe-
riod at the end and inserting a semicolon; and 
(D) by adding at the end the following new 
paragraphs: 
‘‘(4) has disputed information, or submitted an 
appeal of an investigation or reinvestigation of such 
information, under section 611 or 623, regardless of 
whether the consumer has already received a credit 
report, credit score, or educational credit score 
under section 611 or 623; or 
‘‘(5) has had information that was previously 
deleted under section 611(a)(5) reinserted into the 
consumer’s file, regardless of whether the consumer 
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has already received a credit report, credit score, or 
educational credit score under such section.’’; 
(4) in subsection (d), by inserting ‘‘(including 
the disclosure of a credit score or educational credit 
score under subsection (f) of such section)’’ after 
‘‘section 609’’; 
(5) in subsection (f)(1)— 
(A) by striking ‘‘reasonable charge’’ and 
all that follows through ‘‘section 609’’ and in-
serting ‘‘reasonable charge on a consumer for 
providing a consumer report to a consumer’’; 
(B) by striking subparagraph (B); 
(C) by redesignating clauses (i) and (ii) as 
subparagraphs (A) and (B), respectively (and 
conforming the margins accordingly); and 
(D) in subparagraph (B) (as so redesig-
nated), by striking ‘‘disclosure; and’’ and insert-
ing ‘‘disclosure.’’; and 
(6) by adding at the end the following new sub-
sections: 
‘‘(h) CENTRALIZED SOURCE FOR OBTAINING FREE 
COPY OF CONSUMER REPORT AND SCORES.— 
‘‘(1) 
NATIONWIDE
CONSUMER
REPORTING 
AGENCIES.— 
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‘‘(A) IN
GENERAL.—Not later than 180 
days after the date of enactment of this sub-
section, each consumer reporting agency de-
scribed under subsection (p) of section 603 
shall prominently display on the home page of 
the agency’s website— 
‘‘(i) a hyperlink labeled ‘Get Your 
Free Annual Credit Reports along with ei-
ther your Credit Scores or Educational 
Credit Scores provided for under Federal 
Law’ or substantially similar text, as deter-
mined by the Bureau; and 
‘‘(ii) a disclosure titled ‘Consumer’s 
Right to Free Credit Scores, Educational 
Credit Scores, and Reports under Federal 
Law’ or substantially similar text, as deter-
mined by the Bureau that includes the fol-
lowing statement: 
‘‘ ‘All consumers are entitled to obtain a free copy of 
their consumer report and credit score or educational cred-
it score annually from each of the nationwide consumer 
reporting agencies. Under Federal law, a consumer is enti-
tled to obtain additional free copies of their consumer re-
ports, along with a copy of either the consumer’s credit 
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score or educational credit score (under certain cir-
cumstances), including: 
‘‘ ‘(1) When a consumer is unemployed and in-
tends to apply for employment within 60 days. 
‘‘ ‘(2) When a consumer is a recipient of public 
welfare assistance. 
‘‘ ‘(3) When a consumer has a reasonable belief 
that their report contains inaccuracies as a result of 
fraud. 
‘‘ ‘(4) When a consumer 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 in-
formation. 
‘‘ ‘(5) When a consumer files a dispute or an 
appeal of the results of a dispute with a consumer 
reporting agency or a person who furnished informa-
tion to the consumer reporting agency regarding the 
accuracy or completeness of the information con-
tained on their report. 
‘‘ ‘(6) After a furnisher of information discovers 
it has furnished inaccurate or incomplete informa-
tion to a consumer reporting agency, and the fur-
nisher notifies the agency of the error. 
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‘‘ ‘(7) After an adverse action is taken against 
a consumer or a consumer receives a risk-based pric-
ing notice. 
‘‘ ‘(8) When a mortgage lender, private edu-
cational lender, indirect auto lender, or motor vehicle 
lender obtains and uses a consumer’s reports or 
scores for underwriting purposes.’. 
‘‘(B) HYPERLINK
REQUIREMENTS.—The 
hyperlink described in subparagraph (A)(i) shall 
be prominently located on the top of the home 
page and should link directly to the website of 
the centralized source established pursuant to 
section 211(d) of the Fair and Accurate Credit 
Transactions Act of 2003 (15 U.S.C. 1681j(d)). 
‘‘(C) MODIFICATIONS.—The Bureau may 
modify the disclosure described in subparagraph 
(A)(ii) as necessary to include other cir-
cumstances under which a consumer has the 
right to receive a free consumer report, credit 
score, or educational credit score. 
‘‘(2) NATIONWIDE SPECIALTY CONSUMER RE-
PORTING AGENCIES.— 
‘‘(A) IN
GENERAL.—Not later than 180 
days after the date of enactment of this sub-
section, each nationwide specialty consumer re-
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porting agency shall prominently display on the 
Internet home webpage of the agency a disclo-
sure titled ‘Consumer’s Right to Free Con-
sumer Reports and Credit Score or Educational 
Credit Score (as applicable) under Federal 
Law’. Such disclosure shall include the fol-
lowing statement: 
‘‘ ‘Upon request, all consumers are entitled to obtain 
a free copy of their consumer report and credit score or 
educational credit score (as applicable) during any 12- 
month period from each of the nationwide specialty con-
sumer reporting agencies. Federal law also provides fur-
ther circumstances under which a consumer is entitled to 
obtain additional free copies of their consumer report and 
credit score or educational credit score (as applicable) in-
cluding: 
‘‘ ‘(1) When a consumer is unemployed and in-
tends to apply for employment within 60 days. 
‘‘ ‘(2) When a consumer is a recipient of public 
welfare assistance. 
‘‘ ‘(3) When a consumer has a reasonable belief 
that their report contains inaccuracies as a result of 
fraud. 
‘‘ ‘(4) When a consumer files a dispute or an 
appeal of the results of a dispute with a consumer 
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reporting agency or a person who furnished informa-
tion to the consumer reporting agency regarding the 
accuracy or completeness of the information con-
tained on their report. 
‘‘ ‘(5) After a furnisher of information discovers 
it has furnished inaccurate or incomplete informa-
tion to a consumer reporting agency, and the fur-
nisher notifies the agency of the error. 
‘‘ ‘(6) After an adverse action is taken against 
a consumer or a consumer receives a risk-based pric-
ing notice. 
‘‘ ‘(7) When a mortgage lender, private edu-
cational lender, indirect auto lender, or motor vehicle 
lender obtains and uses a consumer’s reports or 
scores for underwriting purposes.’. 
‘‘(B) MODIFICATIONS.—The Bureau may 
modify the disclosure described in subparagraph 
(A) as necessary to include other circumstances 
under which a consumer has the right to receive 
a free consumer report and credit score or edu-
cational credit score (as applicable). 
‘‘(C) TOLL-FREE
TELEPHONE
ACCESS.— 
The information described in this paragraph 
shall also be made available via a toll-free tele-
phone number. Such number shall be promi-
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nently displayed on the home page of the 
website of each nationwide specialty consumer 
reporting agency. Each of the circumstances 
under which a consumer may obtain a free con-
sumer report and credit score or educational 
credit score (as applicable) shall be presented in 
an easily understandable format and consumers 
shall be directed to an individual who is a cus-
tomer service representative not later than 2 
minutes after the initial phone connection is 
made by the consumer. Information provided 
through such telephone number shall comply 
with the requirements of section 633. 
‘‘(D) ONLINE
CONSUMER
REPORTS; EX-
EMPTION.—Upon receipt of a request by a con-
sumer for a consumer report, each nationwide 
specialty consumer reporting agency shall pro-
vide access to such report electronically on the 
Internet website described in section 611(g). 
‘‘(i) AUTOMATIC PROVISION OF FREE CONSUMER 
REPORTS AND CREDIT SCORES OR EDUCATIONAL CREDIT 
SCORES.—A consumer reporting agency shall provide to 
a consumer a free copy of the file and credit score or edu-
cational credit score of the consumer who— 
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‘‘(1) obtains a 1-year fraud alert, 7-year fraud 
alert, active duty alert, or credit freeze as described 
in section 605A; or 
‘‘(2) has disputed information, or submitted an 
appeal of an investigation or reinvestigation of such 
information, under section 611 or 623.’’. 
(b) TECHNICAL AMENDMENT.—Section 615(h)(7) of 
such Act (15 U.S.C. 1681m(h)(7)) is amended by striking 
‘‘section’’ and inserting ‘‘subsection’’. 
SEC. 605. REQUIRES PRIVATE EDUCATIONAL LENDERS TO 
PROVIDE CONSUMERS WITH FREE COPIES OF 
ANY 
CONSUMER 
REPORTS 
AND 
CREDIT 
SCORES 
THAT 
THEY 
USED 
FOR 
UNDER-
WRITING BEFORE CONSUMERS SIGN LOAN 
AGREEMENTS. 
Section 609 of the Fair Credit Reporting Act (15 
U.S.C. 1681g), as amended by section 702, is further 
amended by adding at the end the following new sub-
section: 
‘‘(i) DISCLOSURE
OF CONSUMER REPORTS
AND 
CREDIT SCORES BY PRIVATE EDUCATIONAL LENDERS.— 
‘‘(1) IN
GENERAL.—If a private educational 
lender obtains a copy of any consumer reports or 
credit scores and uses such reports or scores in con-
nection with an application of a consumer for a pri-
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vate education loan, the private educational lender 
shall provide to the consumer, not later than 3 busi-
ness days after obtaining such reports or scores and 
before the date on which the consumer enters into 
a loan agreement with the private educational lend-
er, a copy of any such reports or scores, along with 
the statement described under subsection (f)(2). 
‘‘(2) COSTS.—None of the costs to the private 
educational lender associated with procuring con-
sumer reports or credit scores under this subsection 
may be charged, directly or indirectly, to the con-
sumer. 
‘‘(3) RULE
OF
CONSTRUCTION.—Nothing in 
this subsection shall be construed to eliminate any 
requirement for creditors and lenders to provide 
credit score disclosures, including the statement de-
scribed under subsection (f)(2), to consumers as 
part of an adverse action or risk-based pricing no-
tice.’’. 
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SEC. 606. REQUIRES MOTOR VEHICLE LENDERS OR INDI-
RECT AUTO LENDERS TO PROVIDE CON-
SUMERS WITH FREE COPIES OF ANY CON-
SUMER REPORTS AND CREDIT SCORES THAT 
THEY USED FOR UNDERWRITING BEFORE 
CONSUMERS SIGN LEASE OR LOAN AGREE-
MENTS. 
Section 609 of the Fair Credit Reporting Act (15 
U.S.C. 1681g), as amended by section 605, is further 
amended by adding at the end the following new sub-
section: 
‘‘(j) DISCLOSURE
OF CONSUMER REPORTS
AND 
CREDIT SCORES USED BY MOTOR VEHICLE LENDERS OR 
INDIRECT AUTO LENDERS.— 
‘‘(1) IN GENERAL.—If a motor vehicle lender or 
indirect auto lender obtains a copy of any consumer 
reports or credit scores and uses such reports or 
scores in connection with an application of a con-
sumer for a motor vehicle loan or lease, the motor 
vehicle lender or indirect auto lender shall provide to 
the consumer a document, separate from the con-
sumer’s lease or purchase agreement and before the 
consumer enters into a lease or purchase agreement, 
disclosing any consumer reports and credit scores, 
including the statement described in subsection 
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(f)(2), used by the lender to determine whether to 
extend credit to the consumer. 
‘‘(2) COSTS.—None of the costs to the motor 
vehicle lender or indirect auto lender associated with 
procuring consumer reports or credit scores under 
this subsection may be charged, directly or indi-
rectly, to the consumer. 
‘‘(3) RULE
OF
CONSTRUCTION.—Nothing in 
this subsection shall be construed to eliminate any 
requirement for creditors and lenders to provide 
credit score disclosures, including the statement de-
scribed under subsection (f)(2), to consumers as 
part of an adverse action or risk-based pricing no-
tice. 
‘‘(4) DEFINITIONS.— 
‘‘(A) INDIRECT AUTO LENDER.—The term 
‘indirect auto lender’ has the meaning given the 
term by the Bureau, and shall include a person 
extending a loan made with respect to a car, 
boat, motorcycle, recreational vehicle, or other 
similar vehicle used primarily for personal or 
household purposes. 
‘‘(B) 
MOTOR
VEHICLE
LENDER.—The 
term ‘motor vehicle lender’ has the meaning 
given the term by the Board of Governors of 
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the Federal Reserve System, and shall include 
a person extending a loan made with respect to 
a car, boat, motorcycle, recreational vehicle, or 
other similar vehicle used primarily for personal 
or household purposes.’’. 
SEC. 607. REQUIRES RESIDENTIAL MORTGAGE LENDERS 
TO PROVIDE CONSUMERS WITH FREE COPIES 
OF ANY CONSUMER REPORTS AND CREDIT 
SCORES 
THAT 
THEY 
USED 
FOR 
UNDER-
WRITING BEFORE CONSUMERS SIGN LOAN 
AGREEMENTS. 
Section 609(g) of the Fair Credit Reporting Act (15 
U.S.C. 1681g(g)) is amended— 
(1) by redesignating paragraph (2) as para-
graph (5); 
(2) in paragraph (1)— 
(A) by striking ‘‘a consumer credit score’’ 
and inserting ‘‘any consumer reports or credit 
scores’’; 
(B) by striking ‘‘, as defined in subsection 
(f),’’; 
(C) by striking ‘‘the following to the con-
sumer as soon as reasonably practicable:’’ and 
inserting ‘‘, not later than 3 business days after 
using such reports or scores, a document dis-
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closing any consumer reports and credit scores 
used by the lender to determine whether to ex-
tend credit to the consumer along with the 
statement described in subsection (f)(2).’’; 
(D) by striking subparagraphs (A), (B), 
(C), (E), and (F); 
(E) by redesignating subparagraph (D) as 
paragraph (3); and 
(F) by redesignating subparagraph (G) as 
paragraph (4); 
(3) by inserting after paragraph (1) the fol-
lowing new paragraph: 
‘‘(2) RULE
OF
CONSTRUCTION.—Nothing in 
this subsection shall be construed to eliminate any 
requirement for lenders to provide credit score dis-
closures, including the statement described under 
subsection (f)(2), to consumers as part of an adverse 
action or risk-based pricing notice.’’; 
(4) in paragraph (3) (as so redesignated), in 
the quoted material— 
(A) by inserting ‘‘, free of charge,’’ after 
‘‘disclose to you’’; and 
(B) by striking ‘‘affecting your credit 
scores’’ and inserting ‘‘affecting your credit 
score or scores’’; 
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(5) in paragraph (5) (as so redesignated) by in-
serting ‘‘or scores’’ after ‘‘credit score’’ each place 
such term appears; and 
(6) by adding at the end the following new 
paragraphs: 
‘‘(6) ACTIONS NOT REQUIRED.—This subsection 
shall not require any person to disclose any credit 
score or related information obtained by the person 
after a loan has closed. 
‘‘(7) NO PROCUREMENT COSTS.—None of the 
costs to the creditor or lender associated with pro-
curing any consumer reports or scores under this 
subsection may be charged, directly or indirectly, to 
the consumer.’’. 
TITLE VII—BANNING MISLEAD-
ING AND UNFAIR CONSUMER 
REPORTING PRACTICES 
SEC. 701. PROHIBITS AUTOMATIC RENEWALS FOR CON-
SUMER REPORTING AND CREDIT SCORING 
PRODUCTS AND SERVICES OFFERED UNDER 
PROMOTIONAL TERMS. 
The Fair Credit Reporting Act (15 U.S.C. 1681 et 
seq.), as amended by section 501, is further amended— 
(1) by adding at the end the following new sec-
tion: 
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‘‘§ 632. Promotional periods 
‘‘(a) TERMINATION NOTICE.—With respect to any 
product or service related to a consumer report or a credit 
score that is provided to a consumer under promotional 
terms, the seller or provider of such product or service 
shall provide clear and conspicuous notice to the consumer 
within a reasonable period of time before the promotional 
period ends. 
‘‘(b) OPT-IN.—With respect to any such product or 
service, the seller or provider may not continue to sell or 
provide such product or service to the consumer after the 
end of the promotional period unless the consumer specifi-
cally agrees at the end of the promotional period to con-
tinue receiving the product or service.’’; and 
(2) in the table of contents for such Act, by in-
serting after the item relating to section 631 (as 
added by section 501) the following new item: 
‘‘632. Promotional periods.’’. 
SEC. 702. BANS MISLEADING AND DECEPTIVE MARKETING 
RELATED TO THE PROVISION OF CONSUMER 
REPORTING AND CREDIT SCORING PROD-
UCTS AND SERVICES. 
Section 609 of the Fair Credit Reporting Act (15 
U.S.C. 1681g) is amended— 
(1) in subsection (a)— 
(A) in paragraph (1)— 
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(i) by striking ‘‘request, except’’ and 
all that follows through ‘‘consumer to 
whom’’ and inserting ‘‘request, unless the 
consumer to whom’’; 
(ii) by striking ‘‘disclosure; and’’ and 
inserting ‘‘disclosure.’’; and 
(iii) by striking subparagraph (B); 
and 
(B) in paragraph (6), by inserting ‘‘or edu-
cational credit score (if applicable) under sub-
section (f) or 612’’ before the period at the end; 
and 
(2) by adding at the end the following new sub-
section: 
‘‘(h) DISCLOSURES ON PRODUCTS AND SERVICES.— 
The Bureau, in consultation with the Federal Trade Com-
mission, shall issue regulations within 18 months of the 
date of the enactment of this subsection requiring each 
consumer reporting agency and reseller to clearly and con-
spicuously disclose all material terms and conditions, in-
cluding any fee and pricing information associated with 
any products or services offered, advertised, marketed, or 
sold to consumers by the agency or reseller. Such disclo-
sures shall be made in all forms of communication to con-
sumers and displayed prominently on the agency or re-
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seller’s website and all other locations where products or 
services are offered, advertised, marketed, or sold to con-
sumers.’’. 
SEC. 703. ENDS EXCESSIVE DIRECT-TO-CONSUMER SALES 
BY GIVING THE BUREAU AUTHORITY TO SET 
FAIR AND REASONABLE FEES ON CONSUMER 
REPORTING AND CREDIT SCORING PROD-
UCTS AND SERVICES SOLD BY CONSUMER 
REPORTING AGENCIES TO CONSUMERS. 
The Fair Credit Reporting Act (15 U.S.C. 1681 et 
seq.), as amended by section 706, is further amended— 
(1) by adding at the end the following new sec-
tion: 
‘‘§ 635. Fair and reasonable fees for products and 
services 
‘‘The Bureau may, with respect to any product or 
service offered by a consumer reporting agency to a con-
sumer, set a fair and reasonable maximum fee that may 
be charged for such product or service, except where such 
maximum fee is otherwise provided under this title.’’; and 
(2) in the table of contents for such Act, as 
amended by section 706, by adding at the end the 
following new item: 
‘‘635. Fair and reasonable fees for products and services.’’. 
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SEC. 704. PROMOTES ACCESS TO CONSUMER REPORTING 
AND CREDIT SCORING DISCLOSURES FOR 
CONSUMERS WITH LIMITED ENGLISH PRO-
FICIENCY AND VISUAL AND HEARING IM-
PAIRMENTS TO ENHANCE THEIR ABILITY TO 
EXERCISE THEIR RIGHTS. 
The Fair Credit Reporting Act (15 U.S.C. 1681 et 
seq.), as amended by section 701, is further amended— 
(1) by adding at the end the following new sec-
tion: 
‘‘§ 633. Fair access to information for nonnative 
English speakers and the visually and 
hearing impaired 
‘‘(a) IN GENERAL.—Not later than 180 days after 
the date of the enactment of this section, the Bureau shall 
issue a rule to require consumer reporting agencies and 
persons who furnish information to consumer reporting 
agencies under this title, to the maximum extent reason-
ably practicable— 
‘‘(1) to provide any information, disclosures, or 
other communication with consumers— 
‘‘(A) in each of the 10 most commonly spo-
ken languages, other than English, in the 
United States, as determined by the Bureau of 
the Census on an ongoing basis; and 
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‘‘(B) in formats accessible to individuals 
with hearing or vision impairments; and 
‘‘(2) to ensure that— 
‘‘(A) customer service representatives, in-
cluding employees assigned to handle disputes 
or appeals under sections 611 and 623, who are 
available to assist consumers are highly familiar 
with the requirements of this title; 
‘‘(B) such representatives are available 
during regular business hours and outside of 
regular business hours, including evenings and 
weekends; and 
‘‘(C) at least one among such representa-
tives is fluent in each of the 10 most commonly 
spoken languages, other than English, in the 
United States, as determined by the Bureau of 
the Census on an ongoing basis. 
‘‘(b) BUREAU CONSULTATION.—The Bureau shall 
consult with advocates for civil rights, consumer groups, 
community groups, and organizations that serve tradition-
ally underserved communities and populations in issuing 
the rule described in subsection (a).’’; and 
(2) in the table of contents for such Act, by in-
serting after the item relating to section 632 (as 
added by section 701) the following new item: 
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‘‘633. Fair access to information for nonnative English speakers and the visually 
and hearing impaired.’’. 
SEC. 705. ESTABLISHES CONSUMERS’ RIGHT TO SHOP FOR 
THE BEST DEAL ON CERTAIN LARGE DOLLAR 
LOANS WITHOUT HARMING THEIR CREDIT 
STANDING. 
Section 605 of the Fair Credit Reporting Act (15 
U.S.C. 1681c) is amended by adding at the end the fol-
lowing new subsection: 
‘‘(h) ENCOURAGING CONSUMERS TO COMPARISON 
SHOP FOR LOANS BY TREATING GROUPED ENQUIRIES OF 
THE SAME TYPE WITHIN A REASONABLE PERIOD AS A 
SINGLE ENQUIRY.— 
‘‘(1) IN GENERAL.—With respect to multiple 
enquiries of the same type made to a consumer re-
porting agency for a consumer report or credit score 
with respect to a consumer, any credit scoring model 
shall treat such enquiries as a single enquiry if the 
enquiries are made within a 120-day period. 
‘‘(2) DEFINITION OF ENQUIRIES OF THE SAME 
TYPE.—With respect to multiple enquiries made to 
a consumer reporting agency for a consumer report 
or credit score with respect to a consumer, such 
enquiries are ‘of the same type’ if the consumer re-
porting agency has reason to believe that the 
enquiries are all made for the purpose of deter-
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mining the consumer’s creditworthiness for an exten-
sion of credit described in one of the following: 
‘‘(A) A covered residential mortgage loan 
(as described in section 605C). 
‘‘(B) A motor vehicle loan or lease (as de-
scribed in section 609(j)). 
‘‘(C) A private education loan. 
‘‘(D) Any other consumer financial product 
or service, as determined by the Bureau.’’. 
SEC. 706. ENDS CONFUSION ABOUT WHETHER ENTITIES 
ARE ENGAGED IN CONSUMER REPORTING 
PRACTICES BY CREATING A NATIONWIDE 
CONSUMER 
REPORTING 
AGENCIES 
REG-
ISTRY. 
The Fair Credit Reporting Act (15 U.S.C. 1681 et 
seq.), as amended by section 704, is further amended— 
(1) by adding at the end the following new sec-
tion: 
‘‘§ 634. Nationwide consumer reporting agencies reg-
istry 
‘‘(a) IN GENERAL.—Not later than 1 year after the 
date of enactment of this section, the Bureau shall estab-
lish and maintain a publicly accessible registry of con-
sumer reporting agencies described in subsection (p) or 
(x) of section 603 (and any other agencies the Bureau de-
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