Source: http://uscode.house.gov/view.xhtml?req=(title:15%20section:1681%20edition:prelim)%20OR%20(granuleid:USC-prelim-title15-section1681)&f=treesort&edition=prelim&num=0&jumpTo=true
Timestamp: 2019-05-27 07:30:10
Document Index: 373905033

Matched Legal Cases: ['§ 1681', '§1681', '§602', '§601', '§3', '§504', '§602', '§215', '§318', '§319', '§2']

[USC02] 15 USC 1681: Congressional findings and statement of purpose
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15 USC 1681: Congressional findings and statement of purpose Text contains those laws in effect on May 26, 2019
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§1681. Congressional findings and statement of purpose
(Pub. L. 90–321, title VI, §602, as added Pub. L. 91–508, title VI, §601, Oct. 26, 1970, 84 Stat. 1128 .)
Pub. L. 108–159, §3, Dec. 4, 2003, 117 Stat. 1953 , provided that: "Except as otherwise specifically provided in this Act [see Short Title of 2003 Amendment note set out under section 1601 of this title] and the amendments made by this Act-
Pub. L. 90–321, title V, §504(d), as added by Pub. L. 91–508, title VI, §602, Oct. 26, 1970, 84 Stat. 1136 , provided that: "Title VI [enacting this subchapter] takes effect upon the expiration of one hundred and eighty days following the date of its enactment [Oct. 26, 1970]."
Pub. L. 108–159, title II, §215, Dec. 4, 2003, 117 Stat. 1984 , provided that:
"(a) Study Required.-The Commission and the Board, in consultation with the Office of Fair Housing and Equal Opportunity of the Department of Housing and Urban Development, shall conduct a study of-
"(b) Public Participation.-The Commission shall seek public input about the prescribed methodology and research design of the study described in subsection (a), including from relevant Federal regulators, State insurance regulators, community, civil rights, consumer, and housing groups.
"(1) In general.-Before the end of the 24-month period beginning on the date of enactment of this Act [Dec. 4, 2003], the Commission shall submit a detailed report on the study conducted pursuant to subsection (a) to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate.
"(2) Contents of report.-The report submitted under paragraph (1) shall include the findings and conclusions of the Commission, recommendations to address specific areas of concerns addressed in the study, and recommendations for legislative or administrative action that the Commission may determine to be necessary to ensure that credit and credit-based insurance scores are used appropriately and fairly to avoid negative effects."
Pub. L. 108–159, title III, §318, Dec. 4, 2003, 117 Stat. 1998 , provided that:
"(1) In general.-The Commission shall conduct a study on ways to improve the operation of the Fair Credit Reporting Act [15 U.S.C. 1681 et seq.].
"(2) Areas for study.-In conducting the study under paragraph (1), the Commission shall review-
"(A) the efficacy of increasing the number of points of identifying information that a credit reporting agency is required to match to ensure that a consumer is the correct individual to whom a consumer report relates before releasing a consumer report to a user, including-
"(i) the extent to which requiring additional points of such identifying information to match would-
"(B) requiring notification to consumers when negative information has been added to their credit reports, including-
"(C) the effects of requiring that a consumer who has experienced an adverse action based on a credit report receives a copy of the same credit report that the creditor relied on in taking the adverse action, including-
"(3) Costs and benefits.-With respect to each area of study described in paragraph (2), the Commission shall consider the extent to which such requirements would benefit consumers, balanced against the cost of implementing such provisions.
"(b) Report Required.-Not later than 1 year after the date of enactment of this Act [Dec. 4, 2003], the chairman of the 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 administrative actions as may be appropriate."
Pub. L. 108–159, title III, §319, Dec. 4, 2003, 117 Stat. 1999 , provided that:
"(a) Study Required.-Until the final report is submitted under subsection (b)(2), the Commission shall conduct an ongoing study of the accuracy and completeness of information contained in consumer reports prepared or maintained by consumer reporting agencies and methods for improving the accuracy and completeness of such information.
"(b) Biennial Reports Required.-
"(1) Interim reports.-The Commission shall submit an interim report to the Congress on the study conducted under subsection (a) at the end of the 1-year period beginning on the date of enactment of this Act [Dec. 4, 2003] and biennially thereafter for 8 years.
"(2) Final report.-The Commission shall submit a final report to the Congress on the study conducted under subsection (a) at the end of the 2-year period beginning on the date on which the final interim report is submitted to the Congress under paragraph (1).
"(3) Contents.-Each report submitted under this subsection shall contain a detailed summary of the findings and conclusions of the Commission with respect to the study required under subsection (a) and such recommendations for legislative and administrative action as the Commission may determine to be appropriate."
Pub. L. 108–159, §2, Dec. 4, 2003, 117 Stat. 1953 , provided that: "As used in this Act [see Short Title of 2003 Amendment note set out under section 1601 of this title]-