Protecting Your Credit Score Act of 2020

Bill: 116-hr-5332
Sponsor: Rep. Gottheimer, Josh [D-NJ-5]
Introduced: 2019-12-06 in the House
Policy area: Finance and Financial Sector
Subjects: Civil actions and liability
Computer security and identity theft
Congressional oversight
Consumer Financial Protection Bureau
Consumer credit
Executive agency funding and structure
Government information and archives
Government studies and investigations
Licensing and registrations

Summary:
action_date: 2019-12-06
text: 

Protecting Your Credit Score Act of 2019 

 
This bill revises provisions related to consumer credit reports and credit reporting agencies. 
 
Credit reporting agencies are directed to create a central online portal that allows consumers to (1) access free credit reports and credit scores, (2) dispute errors, and (3) place or lift security freezes.
 
Consumers will receive a free credit score when requesting a free annual credit report. 
 
The bill establishes a public registry for credit reporting agencies. The bill also provides the Consumer Financial Protection Bureau (CFPB) with statutory authority for supervising credit reporting agencies. 
 
A credit reporting ombudsperson is established at the CFPB, whose responsibilities include resolving persistent errors by credit reporting agencies. 
 
A court may award injunctive relief to compel a credit reporting agency to comply with credit report protections.
 
Credit reporting agencies must provide available information to consumers regarding the purpose behind the procurement of a credit report. 
 
The bill gives the CFPB the authority to establish data security requirements for credit reporting agencies. 
 
The Government Accountability Office must report on the feasibility of credit reporting agencies replacing Social Security numbers as identifiers with another type of federal identification. 

action_date: 2020-03-12
text: 

Protecting Your Credit Score Act of 2019 

 
This bill revises provisions related to consumer credit reports and credit reporting agencies. 
 
Credit reporting agencies are directed to create a central online portal that allows consumers to (1) access free credit reports and credit scores, (2) dispute errors, and (3) place or lift security freezes.
 
Consumers will receive a free credit score when requesting a free annual credit report. 
 
The bill establishes a public registry for credit reporting agencies. The bill also provides the Consumer Financial Protection Bureau (CFPB) with statutory authority for supervising credit reporting agencies. 
 
A credit reporting ombudsperson is established at the CFPB, whose responsibilities include resolving persistent errors by credit reporting agencies. 
 
A court may award injunctive relief to compel a credit reporting agency to comply with credit report protections.
 
Credit reporting agencies must provide available information to consumers regarding the purpose behind the procurement of a credit report. 
 
The bill gives the CFPB the authority to establish data security requirements for credit reporting agencies. 
 
The Government Accountability Office must report on the feasibility of credit reporting agencies replacing Social Security numbers as identifiers with another type of federal identification. 

action_date: 2020-06-29
text: 

Protecting Your Credit Score Act of 2020

 
This bill revises provisions related to consumer credit reports and credit reporting agencies. 
 
(Sec. 2) Credit reporting agencies are directed to create a central online portal that allows consumers to (1) access free credit reports and credit scores, (2) dispute errors, and (3) place or lift security freezes.
 
(Sec. 3) Credit reporting agencies must verify specified identifying information when adding credit information to a consumer's file. Credit reporting agencies must also perform periodic audits of credit reports to ensure accuracy.
 
(Sec. 4) A credit reporting ombudsperson, whose responsibilities include resolving persistent errors by credit reporting agencies, is established at the Consumer Financial Protection Bureau (CFPB). 
 
Credit reporting agencies must provide a consumer with additional information after an agency's reinvestigation of disputed credit information.
 
(Sec. 5) A court may award injunctive relief to compel a credit reporting agency to comply with credit report protections.
 
(Sec. 6) Consumers will receive a free credit score upon request and upon certain adverse credit decisions.
 
Credit reporting agencies must provide available information to consumers regarding the purpose behind the procurement of a credit report. 
 
(Sec. 7) The bill establishes a public registry for credit reporting agencies. 
 
(Sec. 8) The bill also provides the CFPB with statutory authority for supervising credit reporting agencies. 
 
(Sec. 9) The bill gives the CFPB the authority to establish data security requirements for credit reporting agencies. 
 
(Sec. 10) The CFPB must report on the effectiveness of specified audits in addressing data security risks at credit reporting agencies.
 
(Sec. 11) The Government Accountability Office must report on the feasibility of credit reporting agencies replacing Social Security numbers as identifiers with another type of federal identification. 


Legislative actions:
action_date: 2020-06-30
text: Received in the Senate.
action_date: 2020-06-29
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2020-06-29
text: On passage Passed by the Yeas and Nays: 234 - 179 (Roll no. 126). (text: 06/26/2020 CR H2559-2561)
action_date: 2020-06-29
text: Passed/agreed to in House: On passage Passed by the Yeas and Nays: 234 - 179 (Roll no. 126).
action_date: 2020-06-29
text: On motion to recommit with instructions Failed by the Yeas and Nays: 184 - 228 (Roll no. 125).
action_date: 2020-06-29
text: Considered as unfinished business. (consideration: CR H2665-2667)
action_date: 2020-06-29
text: POSTPONED PROCEEDINGS - At the conclusion of debate on the motion to recommit with instructions, the Chair put the question on the motion and by voice vote, announced that the noes had prevailed. Mr. Riggleman demanded the yeas and nays and the Chair postponed further consideration on the motion to recommit until a time to be announced.
action_date: 2020-06-29
text: The previous question on the motion to recommit with instructions was ordered without objection.
action_date: 2020-06-29
text: DEBATE - The House proceeded with 10 minutes of debate on the Riggleman motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to strike section 3 from the bill and insert a new section prohibiting the use of social security numbers.
action_date: 2020-06-29
text: Mr. Riggleman moved to recommit with instructions to the Committee on Financial Services. (text: CR H2663)
action_date: 2020-06-29
text: Considered as unfinished business. (consideration: CR H2663-2664)
action_date: 2020-06-26
text: POSTPONED PROCEEDINGS - Pursuant to clause 1(c) of Rule XIX, further proceedings on H.R. 5332 were postponed.
action_date: 2020-06-26
text: The previous question was ordered pursuant to the rule.
action_date: 2020-06-26
text: DEBATE - The House proceeded with one hour of debate on H.R. 5332.
action_date: 2020-06-26
text: Rule provides for consideration of H.R. 1425, H.R. 5332, H.R. 7120, H.R. 7301 and H.J. Res. 90. The resolution provides that the provisions of section 125(c) of the Uruguay Round Agreements Act shall not apply during the remainder of the 116th Congress and the resolution amends H.Res. 967, agreed to on May 15, 2020.
action_date: 2020-06-26
text: Considered under the provisions of rule H. Res. 1017. (consideration: CR H2559-2571)
action_date: 2020-06-24
text: Rules Committee Resolution H. Res. 1017 Reported to House. Rule provides for consideration of H.R. 1425, H.R. 5332, H.R. 7120, H.R. 7301 and H.J. Res. 90. The resolution provides that the provisions of section 125(c) of the Uruguay Round Agreements Act shall not apply during the remainder of the 116th Congress and the resolution amends H.Res. 967, agreed to on May 15, 2020.
action_date: 2020-03-12
text: Placed on the Union Calendar, Calendar No. 335.
action_date: 2020-03-12
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 116-416.
action_date: 2020-03-12
text: Reported (Amended) by the Committee on Financial Services. H. Rept. 116-416.
action_date: 2019-12-11
text: Ordered to be Reported (Amended) by the Yeas and Nays: 31 - 24.
action_date: 2019-12-11
text: Committee Consideration and Mark-up Session Held.
action_date: 2019-12-10
text: Committee Consideration and Mark-up Session Held.
action_date: 2019-12-06
text: Referred to the House Committee on Financial Services.
action_date: 2019-12-06
text: Introduced in House
action_date: 2019-12-06
text: Introduced in House