H.R. 9639: Fostering Accuracy and Integrity in the Reporting of Credit Act

This bill would change how credit reporting works under the Fair Credit Reporting Act (FCRA) and give consumers more protections in several situations.

Credit report changes

• It would shorten some timelines for how long negative information can stay on a credit report.
• It would require medical debt to be removed from credit reports.
• It would speed up the removal of debts that have been paid.

New protections for certain victims

The bill would add or expand special FCRA protections for people affected by:

• Mortgage fraud
• Student-loan fraud
• Economic abuse
• Identity theft

These protections would give affected consumers more ways to correct or limit harmful information tied to fraud or abuse.

Identity-theft and fraud-alert rules

The bill would broaden identity-theft protections by updating how fraud alerts and security freezes work. It would also improve access to credit records and make it easier for consumers to get free credit monitoring in certain cases.

It would update related definitions and procedures so consumers can request these services more easily and so credit reporting rules better reflect the new protections.

Limits on contract terms

The bill would void contract terms that try to override the Act’s public-interest protections, meaning private agreements could not be used to take away the consumer protections the bill creates.

Relevant Companies

None found