H.R. 5332: Protecting Your Credit Score Act of 2019

CBO Score

$25 million

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.

View the full vote history of this bill on GovTrack.us.

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