H.R. 3525 · 110th Congress
FACT Act Rulewriting Improvement Act of 2007
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
FrankSponsorNo cosponsors.
FACT Act Rulewriting Improvement Act of 2007 - Amends the Fair Credit Reporting Act to confer responsibility upon the Federal Trade Commission (FTC) alone to establish accuracy guidelines and prescribe regulations (according to the Fair and Accurate Credit Transactions Act of 2003, or the FACT Act of 2003): (1) for furnishers of information to consumer…
What it does: CRS summary · Introduced in House · Sep 14, 2007
FACT Act Rulewriting Improvement Act of 2007 - Amends the Fair Credit Reporting Act to confer responsibility upon the Federal Trade Commission (FTC) alone to establish accuracy guidelines and prescribe regulations (according to the Fair and Accurate Credit Transactions Act of 2003, or the FACT Act of 2003): (1) for furnishers of information to consumer reporting agencies; and (2) about the circumstances under which such a furnisher shall be required to reinvestigate a dispute concerning the accuracy of information in a consumer report, based on a consumer's direct request. (Currently the FTC, the federal banking agencies, and the National Credit Union Administration are jointly required to establish such guidelines and prescribe such regulations.)
Directs the federal banking agencies and the National Credit Union Administration to establish guidelines and prescribe regulations within their respective jurisdictions that are the same or substantially similar to those prescribed by the FTC.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: FACT Act Rulewriting Improvement Act of 2007
Latest action (Sep 14, 2007): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Sep 14, 2007
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.