S. 1786 · 115th Congress
SECURE Act of 2017
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
SchatzSponsor6 cosponsors · 5 D, 1 I
5 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Stopping Errors in Consumer Use and REporting Act of 2017 or the SECURE Act of 2017
What it does: CRS summary · Introduced in Senate · Sep 11, 2017
Stopping Errors in Consumer Use and REporting Act of 2017 or the SECURE Act of 2017
This bill amends the Fair Credit Reporting Act with respect to civil liability for willful or negligent noncompliance with consumer credit protection requirements. Specifically, it authorizes a court to award: (1) injunctive relief to require compliance with that Act, and (2) costs and fees to the prevailing party in any successful action for injunctive relief.
In disputes regarding information contained in a consumer's credit report, the consumer reporting agency must provide all documentation provided by the consumer to the furnisher of the disputed information. The furnisher must review and consider the documentation.
The Consumer Financial Protection Bureau (CFPB) must issue rules to ensure accuracy of consumer reports issued by consumer reporting agencies.
This bill adds negligence and willful violations of the Act as a basis for civil action and penalty by the Federal Trade Commission.
A consumer reporting agency: (1) must give a consumer a credit score free of charge if one is requested in connection with a free annual consumer report, and (2) must provide free disclosures to any consumer who has received either a notice of adverse action or an offer of credit on materially less favorable terms.
Upon request by a consumer under age 16 or the consumer's legal guardian or custodian, a consumer reporting agency may not provide anyone with the minor's consumer report, nor add information to the file without permission.
The Government Accountability Office must study the feasibility of a government-administered consumer credit reporting system.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: SECURE Act of 2017
Also known as: Stopping Errors in Consumer Use and REporting Act of 2017
Latest action (Oct 17, 2017): Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 115-132.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Sep 11, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.