S. 3518Senate109th Congress (2005-2007)In Committee

A bill to amend the Credit Repair Organizations Act to establish a new disclosure statement.

Introduced June 15, 2006

Legislative Activity

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2 earlier actions
SenateIntro Referral Latest Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

June 15, 2006

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SenateIntro Referral

Introduced in Senate

June 15, 2006

SenateIntro Referral

Sponsor introductory remarks on measure. (CR S5956-5957)

June 15, 2006

SenateIntro Referral

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

June 15, 2006

Floor Debate

14 members

What members said about S. 3518 on the floor

8 Republicans6 Democrats
Judd Gregg
Sen. Judd GreggR-NH · Jun 15, 2006

Mr. President, I rise to introduce a bill which is sponsored by myself and 20 other Members of the Senate. The purpose of this bill is to put some control over spending--or at least put procedures…

Hillary Rodham Clinton
Sen. Hillary Rodham ClintonD-NY · Jun 15, 2006

Mr. President, I am pleased today to introduce the Heroes at Home Act of 2006. This legislation would take several important steps toward assisting our brave men and women in uniform in transitioning…

Jeff Bingaman
Sen. Jeff BingamanD-NM · Jun 15, 2006

Mr. President, I am introducing legislation today with Senators Snowe, Cochran, Cantwell, Domenici, Lincoln, Jeffords, Collins, Murray, Harkin, Landrieu, Obama, Salazar, and Sessions entitled the…

Ron Wyden
Sen. Ron WydenD-OR · Jun 15, 2006

Mr. President, I am pleased to be joined today by Senator Gordon Smith, Senator Larry Craig and Senator Patty Murray in introducing the Fisheries Restoration and Irrigation Mitigation Act of 2006--or…

Orrin G. Hatch
Sen. Orrin G. HatchR-UT · Jun 15, 2006

Mr. President, today I rise to introduce the Agriculture Small Business Opportunity and Enhancement Act of 2006. Currently, 28 States, including my home State of Utah, have State meat inspection…

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Robert Menendez
Rep. Robert MenendezD-NJ-13 · Jun 15, 2006

Mr. President, I rise today with my good friend Senator Durbin to introduce the Mom's Opportunity to Access Help, Education, Research, and Support for Postpartum Depression, MOTHERS, Act. Senator…

Dianne Feinstein
Sen. Dianne FeinsteinD-CA · Jun 15, 2006

Mr. President, I rise to introduce legislation that enhances the innocent spouse equitable relief provision of the Internal Revenue Code. Through only minor legislative modifications, this bill…

Robert F. Bennett
Sen. Robert F. BennettR-UT · Jun 15, 2006

Mr. President, I rise today to introduce legislation to amend the Credit Repair Organizations Act, CROA, to stop abusive class action lawsuits against companies offering legitimate credit file…

Robert F. Bennett
Sen. Robert F. BennettR-UT · Jun 15, 2006

Mr. President, I rise today to introduce legislation to amend the Credit Repair Organizations Act, CROA, to stop abusive class action lawsuits against companies offering legitimate credit file…

John McCain
Sen. John McCainR-AZ · Jun 15, 2006

Mr. President, I am introducing today a bill to amend various provisions of the Indian Land Consolidation Act, ILCA. Some of these amendments are of a technical or clarifying nature; others have the…

Olympia J. Snowe
Sen. Olympia J. SnoweR-ME · Jun 15, 2006

Mr. President, as you know, Turkey invaded the northern area of the Republic of Cyprus in the summer of 1974. At that time, less than 20 percent of the private real property in this area was owned by…

Jon Kyl
Sen. Jon KylR-AZ · Jun 15, 2006

Mr. President, I am pleased to join my colleague from California, Senator Feinstein, in introducing legislation to clarify the jurisdiction of the U.S. Tax Court in cases involving ``equitable…

Herb Kohl
Sen. Herb KohlD-WI · Jun 15, 2006

Mr. President, the manufacturing sector is under siege from cheap imports, unfair trade agreements, and escalating heath care and energy costs. Instead of working to alleviate this burden, the Bush…

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Jeff Sessions
Sen. Jeff SessionsR-AL · Jun 15, 2006

Mr. President, will the Senator yield for a question? First, I wish to say to any Americans listening and all our colleagues, when Chairman Gregg speaks about long-term financial challenges facing…

Mike DeWine
Sen. Mike DeWineR-OH · Jun 15, 2006

Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.

Bill Text

Latest available legislative text

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Introduced in SenateIssued June 15, 2006
        [Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. 3518 Introduced in Senate (IS)]

2d Session
S. 3518

To amend the Credit Repair Organizations Act to establish a new
disclosure statement.

_______________________________________________________________________

IN THE SENATE OF THE UNITED STATES

June 15, 2006

Mr. Bennett introduced the following bill; which was read twice and
referred to the Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

A BILL

To amend the Credit Repair Organizations Act to establish a new
disclosure statement.

Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,

SECTION. 1. REVISION OF DISCLOSURE REQUIREMENTS.

Section 405(a) of the Credit Repair Organizations Act (15 U.S.C.
1679c) is amended by striking everything after the heading of the
disclosure statement contained in such section and inserting the
following new text of the disclosure statement:
```You have a right to dispute inaccurate information in
your credit report by contacting the credit bureau directly.
However, neither you nor any ``credit repair'' company or
credit repair organization has the right to have accurate,
current, and verifiable information removed from your credit
report. The credit bureau must remove accurate, negative
information from your report only if it is over 7 years old.
Bankruptcy information can be reported for 10 years.
```You have a right to obtain a free copy of your credit
report once every 12 months from each of the nationwide
consumer reporting agencies. To request your free annual credit
report, you may go to www.annualcreditreport.com, or call 877-
322-8228, or complete the Annual Credit Report Request Form and
mail it to: Annual Credit Report Request Service, P.O. Box
105281, Atlanta, GA 30348-5281. You can obtain additional
copies of your credit report from a credit bureau, for which
you may be charged a reasonable fee. There is no fee, however,
if you have been turned down for credit, employment, insurance,
or a rental dwelling because of information in your credit
report within the preceding 60 days. The credit bureau must
provide someone to help you interpret the information in your
credit file. You are entitled to receive a free copy of your
credit report if you are unemployed and intend to apply for
employment in the next 60 days, if you are a recipient of
public welfare assistance, or if you have reason to believe
that there is inaccurate information in your credit report due
to fraud.
```You have a right to sue a credit repair organization
that violates the Credit Repair Organization Act. This law
prohibits deceptive practices by credit repair organizations.
```You have the right to cancel your contract with any
credit repair organization for any reason within 3 business
days from the date you signed it.
```Credit bureaus are required to follow reasonable
procedures to ensure that the information they report is
accurate. However, mistakes may occur.
```You may, on your own, notify a credit bureau in writing
that you dispute the accuracy of information in your credit
file. The credit bureau must then reinvestigate and modify or
remove inaccurate or incomplete information. The credit bureau
may not charge any fee for this service. Any pertinent
information and copies of all documents you have concerning an
error should be given to the credit bureau.
```If the credit bureau's reinvestigation does not resolve
the dispute to your satisfaction, you may send a brief
statement to the credit bureau, to be kept in your file,
explaining why you think the record is inaccurate. The credit
bureau must include a summary of your statement about disputed
information with any report it issues about you.
```The Federal Trade Commission regulates credit bureaus
and credit repair organizations. For more information contact:
```Federal Trade Commission
```Washington, D.C. 20580
```1-877-FTC-HELP
```(877 382-4357)
```www.ftc.gov.'''.
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