Free Credit Score Act of 2019

I 116TH CONGRESS 1ST SESSION H. R. 2753 To amend the Fair Credit Reporting Act to require certain consumer report- ing agencies to include a credit score when providing consumers with a free annual consumer report. IN THE HOUSE OF REPRESENTATIVES MAY 15, 2019 Mrs. BEATTY introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Fair Credit Reporting Act to require certain consumer reporting agencies to include a credit score when providing consumers with a free annual consumer report. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Free Credit Score Act 4 of 2019’’. 5 VerDate Sep 11 2014 04:42 May 29, 2019 Jkt 089200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H2753.IH H2753 kjohnson on DSK79L0C42 with BILLS 2 •HR 2753 IH SEC. 2. INCLUSION OF CREDIT SCORE WITH FREE ANNUAL 1 REPORT. 2 The Fair Credit Reporting Act (15 U.S.C. 1681 et 3 seq.) is amended— 4 (1) in section 609(a)(1)(B), by inserting before 5 the period the following: ‘‘, except as required under 6 section 612(a)(1)(D)’’; and 7 (2) in section 612(a)(1), by adding at the end 8 the following: 9 ‘‘(D) INCLUSION OF CREDIT SCORE.— 10 ‘‘(i) IN GENERAL.—A consumer re- 11 porting agency that provides a consumer 12 report to a consumer pursuant to subpara- 13 graph (A) shall also provide such consumer 14 with— 15 ‘‘(I) an explanation of how credit 16 scores are calculated, including factors 17 considered in credit scoring calcula- 18 tions; and 19 ‘‘(II) a credit score (as defined 20 under section 609(f)). 21 ‘‘(ii) RULEMAKING.—The Bureau 22 shall issue rules— 23 ‘‘(I) to provide minimum criteria 24 for explanations described under 25 clause (i)(I); and 26 VerDate Sep 11 2014 04:42 May 29, 2019 Jkt 089200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H2753.IH H2753 kjohnson on DSK79L0C42 with BILLS 3 •HR 2753 IH ‘‘(II) to require a credit score 1 provided by a consumer reporting 2 agency pursuant to clause (i) to be 3 similar to the types of credit scores 4 most commonly used by creditors.’’. 5 Æ VerDate Sep 11 2014 04:42 May 29, 2019 Jkt 089200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6301 E:\BILLS\H2753.IH H2753 kjohnson on DSK79L0C42 with BILLS