HR 347
114th Congress
House
Finance and Financial Sector
Congressional oversight
Consumer affairs
Consumer credit
Contracts and agency
Federal preemption
Government studies and investigations
State and local government operations
Facilitating Access to Credit Act of 2015
Introduced: January 14, 2015
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 27, 2016
Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
Jan 14, 2015
Referred to the House Committee on Financial Services.
Jan 14, 2015
Introduced in House
Plain-English summary
Facilitating Access to Credit Act of 2015
Amends the Credit Repair Organizations Act to exempt from its coverage any consumer reporting agency (or affiliate or subsidiary) described under the Fair Credit Reporting Act as:
- one that compiles and maintains files on consumers on a nationwide basis; or
- any person which, for monetary fees, dues, or on a cooperative nonprofit basis, regularly engages in whole or in part in the practice of assembling or evaluating consumer credit information or other information on consumers in order to furnish consumer reports to third parties, if the person is subject to supervision and examination by the Consumer Financial Protection Bureau.
Preempts state law and regulations concerning a credit repair organization to the extent they would apply to consumer reporting agencies subject to this Act.
Directs the Federal Trade Commission to study whether, in addition to these persons, any other person should be exempt from the Credit Repair Organizations Act.
What's happening now
Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
Committees of jurisdiction
2