On September 29, 2017, NAR sent a letter to Rep. Waters (D-CA) thanking her for reintroducing H.R. 3755, the “Comprehensive Consumer Credit Reporting Reform Act of 2017.”
The reintroduction of the bill comes in the aftermath of the major security breach at Equifax.
Specifically, the legislation enhances protections for consumers from fraud and identity theft related to the breach and addresses major flaws with the existing consumer credit reporting system by making changes that would enhance consumers’ rights, create more transparency over the consumer reporting and credit scoring process. It would also increase the accountability of credit reporting agencies, furnishers, and companies that develop credit scoring models.Read NAR's Letter