Fair Credit Reporting for Servicemembers Act
This bill amends the Fair Credit Reporting Act to: (1) specify that to be considered an active duty military consumer, a consumer must be assigned away from the usual duty station for a period of at least 90 days, and (2) allow a consumer to provide proof to a consumer reporting agency that an adverse credit report item occurred while on active duty.
The bill requires a consumer reporting agency to provide an active duty military consumer's relevant active duty status on adverse credit report items. A consumer reporting agency must issue alerts to an active duty military consumer regarding negative information received about that consumer.
The bill expresses the sense of Congress that users of consumer reports should take into account active duty military status when evaluating a consumer's creditworthiness.