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: 117-hr-7919
Sponsor: full_name: Rep. Lawson, Al, Jr. [D-FL-5]
Introduced: 2022-05-31
Policy area: Finance and Financial Sector
Latest action: action_date: 2022-05-31
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2022-05-31
action_desc: Introduced in House
text: <p>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.</p>

tv_txt: I 117th CONGRESS 2d Session H. R. 7919 IN THE HOUSE OF REPRESENTATIVES May 31, 2022 Mr. Lawson of Florida introduced the following bill; which was referred to the Committee on Financial Services A BILL 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.

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. .