December 20, 2019 Cost Estimate As ordered reported by the House Committee on Financial Services on July 11, 2019 View Document83.38 KB Summary The bill would Require consumer reporting agencies (CRAs) to follow new processes to resolve credit disputes Require the Consumer Financial Protection Bureau (CFPB) to issue final rules and establish and maintain a publicly available registry of CRAs Impose intergovernmental and private-sector mandates on CRAs and other providers of consumer information Expand the authority of the Federal Trade Commission (FTC) to prosecute some crimes Estimated budgetary effects would primarily stem from Hiring additional CFPB employees to issue rules and establish and maintain the publicly available registry of CRAs Increased revenues from civil penalties collected because of expanded enforcement powers for the FTC Data and Supplemental Information Table 1 Table 2 Legislative Information Available From Congress.gov
The bill would Require consumer reporting agencies (CRAs) to follow new processes to resolve credit disputes Require the Consumer Financial Protection Bureau (CFPB) to issue final rules and establish and maintain a publicly available registry of CRAs Impose intergovernmental and private-sector mandates on CRAs and other providers of consumer information Expand the authority of the Federal Trade Commission (FTC) to prosecute some crimes Estimated budgetary effects would primarily stem from Hiring additional CFPB employees to issue rules and establish and maintain the publicly available registry of CRAs Increased revenues from civil penalties collected because of expanded enforcement powers for the FTC