H.R. 4120 · 117th Congress
Comprehensive CREDIT Act of 2021
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
PressleySponsor1 cosponsor · 1 D
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Comprehensive Credit Reporting Enhancement, Disclosure, Innovation, and Transparency Act of 2021 or the Comprehensive CREDIT Act of 2021
What it does: CRS summary · Introduced in House · Jun 24, 2021
Comprehensive Credit Reporting Enhancement, Disclosure, Innovation, and Transparency Act of 2021 or the Comprehensive CREDIT Act of 2021
This bill provides for additional consumer credit protections, sets forth requirements for credit reporting agencies, and prohibits the inclusion of specified information on credit reports.
The bill revises the dispute process for consumers challenging information contained on their credit report, including by establishing an appeals process for disputed credit information. The bill also establishes the right for courts to award injunctive relief to require compliance with consumer credit laws.
Credit reporting agencies must provide (1) free credit scores to consumers along with their free annual credit reports, and (2) additional information regarding the calculation of their credit score.
Furthermore, specified lenders must give consumers free copies of consumer reports or credit scores used for making underwriting decisions before consumers sign the respective loan agreements.
Additionally, the bill generally revises the information included on a credit report, including by limiting the inclusion of certain medical debt.
The bill also expands consumer credit protections applicable to servicemembers and victims of fraud.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Comprehensive CREDIT Act of 2021
Also known as: Comprehensive Credit Reporting Enhancement, Disclosure, Innovation, and Transparency Act of 2021
Latest action (Jun 24, 2021): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Jun 24, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.