Consumer Credit Control Act of 2021
Latest action · Apr 22, 2021 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S2171-2172)
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedApr 22, 2021
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Consumer Credit Control Act of 2021
This bill requires a consumer's affirmative informed consent before a consumer reporting agency may share that consumer's report with third parties for specified purposes. A consumer reporting agency must verify a consumer's identity when obtaining this consent. (Currently, this sharing is generally allowed unless a consumer opts out.)
If the consumer provides consent, a consumer reporting agency may share information with a third party for an extension of credit or the underwriting of insurance.
Additionally, in connection with transactions not initiated by the consumer, a consumer reporting agency may provide a consumer report with the consumer's consent only if the transaction consists of a firm offer of credit or insurance.
Furthermore, consumer reporting agencies may not charge consumers fees in connection with furnishing consumer reports.
The bill also requires consumer reporting agencies to use reasonable efforts to prevent data breaches of consumer reports.
The Government Accountability Office must report on how best to protect information collected in consumer files.
Cosponsors 1
Members who signed on, in the order they did. All signed on Apr 22, 2021.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-MD | Chris Van Hollen | Original | Apr 22, 2021 |
Actions 2
Everything that happened, newest first.
- Apr 22, 2021Introduced in Senate
- Apr 22, 2021Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S2171-2172)
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Apr 22, 2021Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.