Press announcements Home Passes Pressley Bill to Reform Cracked Credit Scoring System

Today, the U.S. House of Representatives passed H.R. 3621, the Comprehensive credit scoring Enhancement, Disclosure, Innovation, and Transparency Act of 2020 (“Comprehensive CREDIT Act”), legislation sponsored by Rep. Ayanna Pressley (D-MA), by way of a vote of 221 to 189.

H.R. 3621 would overhaul the credit reporting system by empowering customers with increased control over their information and requiring customer reporting agencies (CRAs) like Equifax, TransUnion, and Experian, to raised make sure that the information and knowledge on credit reports is accurate and complete.

See below for Chairwoman Waters’ floor statement regarding the bill.

As Prepared for Distribution

Mr. Chairman, we increase today in strong help of H.R. 3621, the Comprehensive credit scoring Enhancement, Disclosure, Innovation, and Transparency Act, legislation sponsored by Representative Ayanna Pressley of Massachusetts.

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