H.R. 5332: Protecting Your Credit Score Act of 2019
CBO Score
$25 million
Documentation
Date of Report
Fri February 21st, 2020
CBO Report Details
Legislation Details
116th Congress
To amend the Fair Credit Reporting Act to ensure that consumer reporting agencies are providing fair and accurate information reporting in consumer reports, and for other purposes.
Sponsor: Rep. Josh Gottheimer — D — NJ
Requires the Consumer Financial Protection Bureau (CFPB) to issue rules that impose new requirements on consumer reporting agencies (CRAs) and entities that furnish information to CRAs, requires the CFPB to hire a credit reporting ombudsman to coordinate bureau activity regarding CRAs, imposes private-sector mandates as defined in the Unfunded Mandates Reform Act (UMRA) by placing new requirements on CRAs, financial institutions, and entities that furnish information to CRAs, and imposes intergovernmental mandates as defined in UMRA by requiring users of consumer reports to notify CRAs of adverse actions taken against a consumer.
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