To amend the Fair Credit Reporting Act to permit certain credit repair organizations to dispute credit information directly with a furnisher, and for other purposes.
Bill: H.R.7919 | Sponsor: Rep. Lawson, Al, Jr. (D-FL)
Policy area: Finance and Financial Sector

Summary:
This bill allows a credit repair organization to dispute consumer credit information provided to a credit reporting agency. Under current law, only consumers are allowed to dispute this information.

To amend the Fair Credit Reporting Act to permit certain credit repair 
organizations to dispute credit information directly with a furnisher, 
                        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. ABILITY OF CERTAIN CREDIT REPAIR ORGANIZATIONS TO DISPUTE 
              INFORMATION DIRECTLY WITH A FURNISHER.

    Section 623(a)(8) of the Fair Credit Reporting Act (15 U.S.C. 
1681s-2(a)(8)) is amended--
            (1) in the paragraph heading, by striking ``consumer'' and 
        inserting ``consumer and credit repair organization'';
            (2) in subparagraph (A), by striking ``consumer.'' and 
        inserting ``consumer or credit repair organization.'';
            (3) in subparagraph (B)--
                    (A) in clause (ii), by adding ``and'' at the end;
                    (B) in clause (iii)--
                            (i) by striking ``consumer'' and inserting 
                        ``consumer or the credit repair organization''; 
                        and
                            (ii) by striking ``; and'' and inserting a 
                        period; and
                    (C) by striking clause (iv);
            (4) in subparagraph (D), by striking ``consumer'' and 
        inserting ``consumer or credit repair organization'';
            (5) in subparagraph (E)--
                    (A) in the matter preceding clause (i), by striking 
                ``from a consumer'' and inserting ``from a consumer or 
                credit repair organization'';
                    (B) in clause (ii), by striking ``consumer'' and 
                inserting ``consumer or credit repair organization''; 
                and
                    (C) in clause (iii), by striking ``to the 
                consumer'' and inserting ``to the consumer or credit 
                repair organization that submitted the notice'';
            (6) in subparagraph (F)--
                    (A) in clause (i)--
                            (i) in the matter preceding subclause (I), 
                        by striking ``consumer'' and inserting 
                        ``consumer or credit repair organization'';
                            (ii) in subclause (I), by striking 
                        ``consumer'' and inserting ``consumer or credit 
                        repair organization''; and
                            (iii) in subclause (II), by striking ``by a 
                        consumer'' and inserting ``by a consumer or 
                        credit repair organization''; and
                    (B) in clause (ii)--
                            (i) by striking ``notify the consumer'' and 
                        inserting ``notify the consumer or credit 
                        repair organization that submitted the dispute 
                        notice''; and
                            (ii) by striking ``by the consumer'' and 
                        inserting ``by the consumer or credit repair 
                        organization''; and
            (7) by amending subparagraph (G) to read as follows:
                    ``(G) Credit repair organization defined.--For 
                purposes of this paragraph, the term `credit repair 
                organization' means an entity authorized to act on 
                behalf of a consumer that--
                            ``(i) is a credit repair organization, as 
                        defined in section 403(3); or
                            ``(ii) but for section 403(3)(B)(i), would 
                        be such a credit repair organization.''.
                                 <all>