H.R. 3821 includes several reforms to thoroughly and appropriately supervise credit reporting agencies, ensuring accurate and transparent credit files and the protection of personally identifiable information.
Addresses the inefficient process used by credit reporting agencies for a parent to request a security freeze of their child’s credit.
Ensures a consumer found to have been impacted by predatory mortgage or student lending or financial abuse, as determined by a court of law or through a settlement agreement, will have the negative information removed from his or her consumer report.
Removes all paid, non-elective medical debt from a consumer’s credit report to help those who have been impacted by illnesses.
Prevents credit reporting agencies from using Social Security numbers for verification purposes.