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Comprehensive CREDIT Act of 2021

USA117th CongressHR-4120| House 
| Updated: 6/24/2021
Ayanna Pressley

Ayanna Pressley

Democratic Representative

Massachusetts

Cosponsors (1)
Jared Huffman (Democratic)

Financial Services Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Comprehensive Credit Reporting Enhancement, Disclosure, Innovation, and Transparency Act of 2021 or the Comprehensive CREDIT Act of 2021 This bill provides for additional consumer credit protections, sets forth requirements for credit reporting agencies, and prohibits the inclusion of specified information on credit reports. The bill revises the dispute process for consumers challenging information contained on their credit report, including by establishing an appeals process for disputed credit information. The bill also establishes the right for courts to award injunctive relief to require compliance with consumer credit laws. Credit reporting agencies must provide (1) free credit scores to consumers along with their free annual credit reports, and (2) additional information regarding the calculation of their credit score. Furthermore, specified lenders must give consumers free copies of consumer reports or credit scores used for making underwriting decisions before consumers sign the respective loan agreements. Additionally, the bill generally revises the information included on a credit report, including by limiting the inclusion of certain medical debt. The bill also expands consumer credit protections applicable to servicemembers and victims of fraud.
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Timeline
Jun 24, 2021
Introduced in House
Jun 24, 2021
Referred to the House Committee on Financial Services.
  • June 24, 2021
    Introduced in House


  • June 24, 2021
    Referred to the House Committee on Financial Services.

Finance and Financial Sector

Related Bills

  • HR 117-4119: Student Borrower Credit Improvement Act
  • HR 117-4144: Restricting Credit Checks for Employment Decisions Act
  • HR 117-4078: Free Credit Scores for Consumers Act of 2021
  • HR 117-4113: Improving Credit Reporting for All Consumers Act
  • HR 117-4115: Restoring Unfairly Impaired Credit and Protecting Consumers Act
  • HR 117-3439: Fair Credit Reporting for Servicemembers Act
  • HR 117-4112: Clarity in Credit Score Formation Act of 2021

Comprehensive CREDIT Act of 2021

USA117th CongressHR-4120| House 
| Updated: 6/24/2021
Comprehensive Credit Reporting Enhancement, Disclosure, Innovation, and Transparency Act of 2021 or the Comprehensive CREDIT Act of 2021 This bill provides for additional consumer credit protections, sets forth requirements for credit reporting agencies, and prohibits the inclusion of specified information on credit reports. The bill revises the dispute process for consumers challenging information contained on their credit report, including by establishing an appeals process for disputed credit information. The bill also establishes the right for courts to award injunctive relief to require compliance with consumer credit laws. Credit reporting agencies must provide (1) free credit scores to consumers along with their free annual credit reports, and (2) additional information regarding the calculation of their credit score. Furthermore, specified lenders must give consumers free copies of consumer reports or credit scores used for making underwriting decisions before consumers sign the respective loan agreements. Additionally, the bill generally revises the information included on a credit report, including by limiting the inclusion of certain medical debt. The bill also expands consumer credit protections applicable to servicemembers and victims of fraud.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jun 24, 2021
Introduced in House
Jun 24, 2021
Referred to the House Committee on Financial Services.
  • June 24, 2021
    Introduced in House


  • June 24, 2021
    Referred to the House Committee on Financial Services.
Ayanna Pressley

Ayanna Pressley

Democratic Representative

Massachusetts

Cosponsors (1)
Jared Huffman (Democratic)

Financial Services Committee

Finance and Financial Sector

Related Bills

  • HR 117-4119: Student Borrower Credit Improvement Act
  • HR 117-4144: Restricting Credit Checks for Employment Decisions Act
  • HR 117-4078: Free Credit Scores for Consumers Act of 2021
  • HR 117-4113: Improving Credit Reporting for All Consumers Act
  • HR 117-4115: Restoring Unfairly Impaired Credit and Protecting Consumers Act
  • HR 117-3439: Fair Credit Reporting for Servicemembers Act
  • HR 117-4112: Clarity in Credit Score Formation Act of 2021
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted