H.R. 7919 – Reading Mode

117th CONGRESS

2d Session

H. R. 7919

IN THE HOUSE OF REPRESENTATIVES

May 31, 2022

Mr. Lawson of Florida introduced the following bill; which was referred to the Committee on Financial Services

A BILL

To amend the Fair Credit Reporting Act to permit certain credit repair organizations to dispute credit information directly with a furnisher, and for other purposes.

Ability of certain credit repair organizations to dispute information directly with a furnisher

Section 623(a)(8) of the Fair Credit Reporting Act (15 U.S.C. 1681s–2(a)(8)) is amended—

(1)

in the paragraph heading, by striking consumer and inserting consumer and credit repair organization;

(2)

in subparagraph (A), by striking consumer. and inserting consumer or credit repair organization.;

(3)

in subparagraph (B)—

(A)

in clause (ii), by adding and at the end;

(B)

in clause (iii)—

(i)

by striking consumer and inserting consumer or the credit repair organization; and

(ii)

by striking ; and and inserting a period; and

(C)

by striking clause (iv);

(4)

in subparagraph (D), by striking consumer and inserting consumer or credit repair organization;

(5)

in subparagraph (E)—

(A)

in the matter preceding clause (i), by striking from a consumer and inserting from a consumer or credit repair organization;

(B)

in clause (ii), by striking consumer and inserting consumer or credit repair organization; and

(C)

in clause (iii), by striking to the consumer and inserting to the consumer or credit repair organization that submitted the notice;

(6)

in subparagraph (F)—

(A)

in clause (i)—

(i)

in the matter preceding subclause (I), by striking consumer and inserting consumer or credit repair organization;

(ii)

in subclause (I), by striking consumer and inserting consumer or credit repair organization; and

(iii)

in subclause (II), by striking by a consumer and inserting by a consumer or credit repair organization; and

(B)

in clause (ii)—

(i)

by striking notify the consumer and inserting notify the consumer or credit repair organization that submitted the dispute notice; and

(ii)

by striking by the consumer and inserting by the consumer or credit repair organization; and

(7)

by amending subparagraph (G) to read as follows:

(G)

Credit repair organization defined

For purposes of this paragraph, the term credit repair organization means an entity authorized to act on behalf of a consumer that—

(i)

is a credit repair organization, as defined in section 403(3); or

(ii)

but for section 403(3)(B)(i), would be such a credit repair organization.