Sen. Duckworth Introduces Resolution to Protect Credit Report Dispute Rules
This bill is currently in the early stages of the legislative process. It was recently introduced and sent to the Senate Committee on Banking, Housing, and Urban Affairs for review. There are no upcoming votes scheduled at this time.
This resolution faces a difficult path because it tries to reverse a decision made by a federal agency, which usually requires strong support from both parties.
Scores run from -100 (strongly harmful) to +100 (strongly beneficial) for each group, combining impact, certainty, scope, and duration ratings of 1-5. How impact scoring works
Small business owners often use personal credit to secure business loans and lines of credit. Errors on their credit reports can mean higher interest rates or outright denial of financing. Keeping the dispute investigation requirement in place helps protect their access to capital.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in Senate
The bill was officially filed and given a number. It now enters the legislative queue.
No votes or news coverage recorded for this bill yet.
Document Type
Congressional Bill
Official Title
A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to the withdrawal of the rule relating to "Consumer Financial Protection Circular 2022-07: Reasonable Investigation of Consumer Reporting Disputes".
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