Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
The bill amends the Fair Credit Reporting Act to permit furnishing to consumer reporting agencies of consumer payment performance for dwelling lease agreements and utility or telecommunications service contracts. It limits furnished information to payment-related data and prevents an energy utility from reporting an account as late when a consumer is complying with a payment plan.
Liberals worry negative reporting and weaker liability will harm vulnerable consumers
Relative to its intended legislative type, this bill is a focused substantive statutory amendment that reasonably specifies permitted new furnishers and data types, limits on the nature of reported information, a narrowly tailored protection for consumers on energy utility payment plans, and a requirement for a GAO impact report.
The bill amends the Fair Credit Reporting Act to permit furnishing to consumer reporting agencies of consumer payment performance for dwelling lease agreements and utility or telecommunications service contracts.
It limits furnished information to payment-related data and prevents an energy utility from reporting an account as late when a consumer is complying with a payment plan.
The bill adds subsection (f) into the statute's limitation on liability provisions and requires the Comptroller General to report to Congress on impacts within two years.
Modest chance: narrow, administrable change with bipartisan appeal but contested by privacy/consumer advocates and possible state-preemption concerns.
Relative to its intended legislative type, this bill is a focused substantive statutory amendment that reasonably specifies permitted new furnishers and data types, limits on the nature of reported information, a narrowly tailored protection for consumers on energy utility payment plans, and a requirement for a GAO impact report. It explicitly amends the relevant FCRA section and updates liability language to reflect the new subsection.
Liberals worry negative reporting and weaker liability will harm vulnerable consumers
These are examples from the analysis, not a ranked list of the most-affected groups.
Liberals worry negative reporting and weaker liability will harm vulnerable consumers
Cautiously critical.
The persona recognizes potential benefits for credit-building but worries the bill allows negative reporting and weakens enforcement.
They would want stronger consumer protections, consent, and error-correction rules before supporting it.
Pragmatic and conditional.
Sees potential to expand credit access for credit-invisible consumers and appreciates the GAO review.
Wants clear implementing regulations and oversight to limit consumer harm and unintended consequences.
Generally supportive.
Views permitting more private-sector data sharing as market-friendly and pro-competition, increasing credit access.
Favors the liability clarification and limited federal intervention while noting minimal new mandates on firms.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Modest chance: narrow, administrable change with bipartisan appeal but contested by privacy/consumer advocates and possible state-preemption concerns.
The bill has not accumulated any surfaced votes yet.
Liberals worry negative reporting and weaker liability will harm vulnerable consumers
Modest chance: narrow, administrable change with bipartisan appeal but contested by privacy/consumer advocates and possible state-preemptio…
Relative to its intended legislative type, this bill is a focused substantive statutory amendment that reasonably specifies permitted new furnishers and data types, limits on the nature of reported information, a narrow…
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