I 
114TH CONGRESS 
1ST SESSION 
H. R. 347 
To amend the Credit Repair Organizations Act to exempt certain consumer 
reporting agencies, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
JANUARY 14, 2015 
Mr. ROYCE (for himself and Mr. HINOJOSA) introduced the following bill; 
which was referred to the Committee on Financial Services 
A BILL 
To amend the Credit Repair Organizations Act to exempt 
certain consumer reporting agencies, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Facilitating Access to 
Credit Act of 2015’’. 
SEC. 2. TREATMENT OF CERTAIN CONSUMER REPORTING 
AGENCIES. 
The Credit Repair Organizations Act (15 U.S.C. 
1679 et seq.) is amended— 
(1) in section 403(3)(B)— 
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(A) in clause (ii), by striking ‘‘or’’ at the 
end; 
(B) in clause (iii), by striking the period 
and inserting ‘‘; or’’; and 
(C) by adding at the end the following: 
‘‘(iv) any consumer reporting agen-
cy— 
‘‘(I) 
described 
under 
section 
603(p) of the Fair Credit Reporting 
Act, or any affiliate or subsidiary of 
such a consumer reporting agency; or 
‘‘(II) described under section 
603(f) of the Fair Credit Reporting 
Act, or any affiliate or subsidiary of 
such a consumer reporting agency, if 
such consumer reporting agency is 
subject to supervision and examina-
tion by the Bureau of Consumer Fi-
nancial Protection pursuant to section 
1024(a)(1)(B) of the Consumer Fi-
nancial Protection Act of 2010.’’; and 
(2) in section 412— 
(A) by striking ‘‘This title’’ and inserting 
the following: 
‘‘(a) IN GENERAL.—This title’’; and 
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(B) by adding at the end the following: 
‘‘(b) EXEMPTION FOR ENTITIES THAT ARE NOT 
CREDIT REPAIR ORGANIZATIONS.—Notwithstanding sub-
section (a), this title supersedes any law or regulation of 
any State with respect to the subject matter of this Act 
to the extent that the State law or regulation would apply 
to any person described in section 403(3)(B).’’. 
SEC. 3. FTC STUDY. 
(a) STUDY.—The Federal Trade Commission shall 
conduct a study to determine whether, in addition to those 
persons listed under section 403(3)(B) of the Credit Re-
pair Organizations Act, any other person should be exempt 
from the Credit Repair Organizations Act. 
(b) REPORT.—Not later than one year after the date 
of enactment of this Act, the Chairman of the Federal 
Trade Commission shall submit a report to the Committee 
on Banking, Housing, and Urban Affairs of the Senate 
and the Committee on Financial Services of the House of 
Representatives containing a detailed summary of the 
findings and conclusions of the study under this section, 
together with such recommendations for legislative or ad-
ministrative actions as may be appropriate. 
Æ 
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