Rep. McHenry sponsors Bill to protect consumer credit profiles


U.S. Representative Patrick McHenry (R-NC) reintroduced the Consumer Access to Credit Act on March 11, which aims to reform the Fair Credit Reporting Act (FCRA) by making it more accurate and secure credit profiles are ensured.

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“Access to credit can and not be the difference between buying a home, a car, or sending a child to college,” said McHenry. “Having an accurate and secure credit profile is the best way to ensure Americans can achieve these goals. My legislation would remove certain adverse credit information created through no fault of the consumer, including paid, non-eligible medical debts. ”

McHenry noted that HR 1645 would secure even the most personal information of Americans when cybersecurity risks are higher than ever.

“These common sense reforms to the FCRA are needed now more than ever if we are to end the pandemic and work to ensure that all Americans can participate in our nation’s recovery,” he said.

According to a legislative digest provided by McHenry’s office, the legislation would ensure that a consumer found to be affected by predatory mortgage or student loan or financial abuse removes the negative information from their consumer report. In addition, it would prevent credit bureaus from using social security numbers for verification purposes. Authorized the Consumer Financial Protection Bureau (CFPB) to oversee cybersecurity efforts by credit reporting agencies; and address the process that a parent’s credit bureaus use to request a security freeze on their child’s credit.

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