,i  #aae? ,,congress  #b;d ,session  ,h4
 ,r4 #faib  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,june #bb1 #bjah,mr4  
,royce ( ,cali=nia introduc$ ! foll[+   
bill2 :i* 0 ref]r$ to ! ,committee on   
,f9ancial ,s]vices1 & 9 addition to !   
,committee on ,en]gy & ,comm]ce1 = a    
p]iod to be subsequ5tly det]m9$ by !    
,speak]1 9 ea* case = consid]ation ( su*
 provisions z fall )9 ! jurisdiction ( !
 committee conc]n$  ,a ,,bill  ,to am5d 
! ,cr$it ,repair ,organizations ,act to 
facilitate ! developm5t ( consum] cr$it 
s]vices1 & = o!r purposes4  #a4 ,%ort   
title ,?is ,act may be cit$ z ! ,cr$it  
,s]vices ,protection ,act ( #bjah4  #b4 
,protection ( consum] cr$it s]vices  7a7
 ,9 g5]al ,! ,cr$it ,repair             
,organizations ,act 7#ae ,u4,s4,c4 #afgi
 et seq47 is am5d$--  7#a7 by /rik+     
title ea* place su* t]m appe>s & ins]t+ 
*apt]2  7#b7 by /rik+ ,,title           
,,iv--,,cr$it ,,repair ,,organizations &
 ins]t+ ,,title ,,iv--,,consum] ,,cr$it 
,,s]vices2  7#c7 by ins]t+ be=e ! table 

( cont5ts = su* ,act ! foll[+3  #a      
,,cr$it ,,repair  2  7#d7 9 section     
#djc7c77;,b7--  7,a7 9 clause 7ii71 by  
/rik+ or at ! end2  7,b7 9 clause 7iii71
 by /rik+ ! p]iod & ins]t+ 2 or2 &  7,c7
 by add+ at ! end ! foll[+3  7iv7 any   
au?oriz$ cr$it s]vices provid] to !     
ext5t su* provid] (f]s1 sells1 provides1
 or p]=ms cr$it & id5tity protection    
s]vices or cr$it education s]vices 7z   
su* t]ms are def9$1 respectively1 "u    
section #dbc74  2 &  7#e7 by ins]t+ aft]
 section #dac ! foll[+3  #b ,,cr$it ,,& 
,,id5tity ,,protection ,,& ,,cr$it      
,,education  ,sec4 #dba4 ,%ort title4   
,sec4 #dbb4 ,f9d+s4 ,sec4 #dbc4         
,def9itions4 ,sec4 #dbd4 ,promotion (   
cr$it & id5tity protection s]vices &    
cr$it education s]vices4 ,sec4 #dbe4    
,applicability ( ,cr$it ,repair         
,organizations ,act to activities (     
au?oriz$ cr$it s]vices provid]s o!r ?an 
cr$it & id5tity protection s]vices or   
cr$it education s]vices4 ,sec4 #dbf4    
,relation to ,/ate law4 ,sec4 #dbg4     

,process = regi/]+ z au?oriz$ cr$it     
s]vices provid]4  #dba4 ,%ort title ,?is
 *apt] may be cit$ z ! ,cr$it ,s]vices  
,protection ,act4  #dbb4 ,f9d+s ,!      
,congress makes ! foll[+ f9d+s3 7#a7    
,consum] reports & cr$it scores h become
 widely available to consum]s4 ,9 ord]  
to fully b5efit f su* access1 h[ev]1    
consum]s also ne$ ! tools to und]/& &   
improve _! cr$it /&+4 ,by do+ s consum]s
 c ga9 great] access to cr$it & on bett]
 t]ms1 :i* c help alleviate pov]ty1     
su/a9 ! middle class1 & gr[ ! economy4  
7#b7 ,z cyb]-attacks & data brea*es h   
prolif]at$1 consum]s' cr$it /&+ has also
 become increas+ly ?reat5$ by id5tity   
!ft1 fraud1 & o!r =ms ( unau?oriz$      
access4 ,to help protect aga9/ ^!       
?reats1 consum]s turn to cr$it monitor+ 
& o!r cr$it & id5tity protection tools &
 s]vices4  7#c7 ,enact$ 9 #aiif1 !      
,cr$it ,repair ,organizations ,act 7#ae 
,u4,s4,c4 #afgi et seq47 rema9s an      
important law to protect consum]s f     
exploitation1 b 9 rec5t ye>s ! law also 

has work$ to prev5t cr$it education &   
cr$it & id5tity !ft protection s]vices f
 rea*+ consum]s4  7#d7 ,! provision (   
cr$it & id5tity protection s]vices &    
cr$it education s]vices %\ld be         
accompani$ by reasonable & appropriate  
consum] protections4  7#e7 ,p]sons :o   
*oose to regi/] z an au?oriz$ cr$it     
s]vices provid] pursuant to section #dbg
 & :o (f]1 sell1 provide1 or p]=m cr$it 
& id5tity protection s]vices & cr$it    
education s]vices %\ld h ! c]ta9ty ( a  
safe h>bor f ! ,cr$it ,repair           
,organizations ,act t ?is *apt]         
provid]s4  #dbc4 ,def9itions ,= !       
purposes ( ?is *apt]1 ! foll[+          
def9itions apply3 7#a7 ,au?oriz$ cr$it  
s]vices provid] ,! t]m au?oriz$ cr$it   
s]vices provid] means a p]son t has     
regi/]$ z an au?oriz$ cr$it s]vices     
provid] "u section #dbg4  7#b7 ,cr$it ,!
 t]m cr$it has ! mean+ giv5 t t]m "u    
section #djc ( ! ,cr$it ,repair         
,organizations ,act4  7#c7 ,cr$it &     
id5tity protection s]vice ,! t]m cr$it &

 id5tity protection s]vice--  7,a7 means
 any s]vice (f]$1 sold1 provid$1 or     
p]=m$ to or = consum]s = ! express or   
impli$ purpose ( protect+ a consum]'s   
cr$it /&+ or to detect or prev5t !      
commission or rem$iate ! consequ5ces (  
id5tity !ft1 fraud1 data brea*1 or o!r  
unau?oriz$ f9ancial or cr$it-relat$     
activity2 &  7,b7 does n include-- 7i7  
advis+ or assi/+ 9 any activity describ$
 9 subp>agraphs 7,a7 ?r\gh 7,c7 (       
section #dbg7;b77#b72  7ii7 any s]vices 
m>ket$ to a consum] dur+ a call or      
session ) a consum] report+ ag5cy 7z    
def9$ "u section #fjc7;f7 ( ! ,fair     
,cr$it ,report+ ,act7 reg>d+ ! ex]cise (
 any consum] "r "u ! ,fair ,cr$it       
,report+ ,act or applicable ,/ate laws  
prior to ! consum] report+ ag5cy meet+  
its obligations "u ! ,fair ,cr$it       
,report+ ,act or applicable ,/ate law   
requir$ = su* call or session2 or  7iii7
 any s]vices provid$ )\t compliance )   
sections #dbd7;c7 & #dbd7;d74  7#d7     
,cr$it education s]vice ,! t]m cr$it    

education s]vice--  7,a7 means any      
s]vice (f]$1 sold1 provid$1 or p]=m$ to 
or = consum]s = ! express or impli$     
purpose ( c\nsel+1 educat+1 or assi/+   
consum]s 9 und]/&+1 manag+1 or          
prospectively improv+ _! cr$it /&+1     
consum] report1 cr$it scores1 or access 
to cr$it2 &  7,b7 does n include-- 7i7  
advis+ or assi/+ 9 any activity describ$
 9 subp>agraphs 7,a7 ?r\gh 7,c7 (       
section #dbg7;b77#b72  7ii7 any s]vices 
m>ket$ to a consum] dur+ a call or      
session ) a consum] report+ ag5cy 7z    
def9$ "u section #fjc7;f7 ( ! ,fair     
,cr$it ,report+ ,act7 reg>d+ ! ex]cise (
 any consum] "r "u ! ,fair ,cr$it       
,report+ ,act or applicable ,/ate laws  
prior to ! consum] report+ ag5cy meet+  
its obligations "u ! ,fair ,cr$it       
,report+ ,act or applicable ,/ate law   
requir$ = su* call or session2 or  7iii7
 any s]vices provid$ )\t compliance )   
sections #dbd7;c7 & #dbd7;d74  7#e7     
,consum] ,! t]m consum] has ! mean+ giv5
 t t]m "u section #djc ( ! ,cr$it       

,repair ,organizations ,act4  7#f7      
,consum] report ,! t]m consum] report   
has ! mean+ giv5 t t]m "u section #fjc (
 ! ,fair ,cr$it ,report+ ,act4  #dbd4   
,promotion ( cr$it & id5tity protection 
s]vices & cr$it education s]vices  7a7  
,inapplicability ( ! ,cr$it ,repair     
,organizations ,act to cr$it & id5tity  
protection s]vices & cr$it education    
s]vices ,! ,cr$it ,repair ,organizations
 ,act 7#ae ,u4,s4,c4 #afgi et seq47 %all
 n apply to any au?oriz$ cr$it s]vices  
provid] to ! ext5t su* provid] (f]s1    
sells1 provides1 or p]=ms cr$it &       
id5tity protection s]vices or cr$it     
education s]vices4  7b7 ,prohibit$      
practices ,no au?oriz$ cr$it s]vices    
provid] may-- 7#a7 make any /atem5t1 or 
c\nsel or advise any consum] to make any
 /atem5t1 :i* is untrue or mislead+ 7or 
:i*1 ^u ! ex]cise ( reasonable c>e1 %\ld
 be kn[n by ! au?oriz$ cr$it s]vices    
provid] (fic]1 employee1 ag5t1 or o!r   
p]son to be untrue or mislead+7 )       
respect to any consum]'s cr$it wor?9ess1

 cr$it /&+1 or cr$it capacity to--  7,a7
 any consum] report+ ag5cy 7z def9$ "u  
section #fjc7;f7 ( ! ,fair ,cr$it       
,report+ ,act72 or  7,b7 any p]son-- 7i7
 :o has ext5d$ cr$it to ! consum]2 or   
7ii7 to :om ! consum] has appli$ or is  
apply+ = an ext5sion ( cr$it2  7#b7 make
 any /atem5t1 or c\nsel or advise any   
consum] to make any /atem5t1 ! int5d$   
effect ( :i* is to alt] ! consum]'s     
id5tification to prev5t ! display ( !   
consum]'s cr$it record1 hi/ory1 or rat+ 
= ! purpose ( conceal+ adv]se in=mation 
t is accurate & n obsolete to--  7,a7   
any consum] report+ ag5cy 7z def9$ "u   
section #fjc7;f7 ( ! ,fair ,cr$it       
,report+ ,act72 or  7,b7 any p]son-- 7i7
 :o has ext5d$ cr$it to ! consum]2  7ii7
 to :om ! consum] has appli$ or is      
apply+ = an ext5sion ( cr$it2 or  7iii7 
:o has a p]missible purpose to obta9 a  
consum] report "u section #fjd ( ! ,fair
 ,cr$it ,report+ ,act 7#ae ,u4,s4,c4    
#afha;b7 & is mak+ an eligibility       
det]m9ation 9 a transaction initiat$ by 

! consum]2  7#c7 make or use any untrue 
or mislead+ /atem5t ( ! s]vices (f]$ by 
! au?oriz$ cr$it s]vices provid]2 or    
7#d7 engage1 directly or indirectly1 9  
any act1 practice1 or c\rse ( bus9ess t 
con/itutes or results directly 9 !      
commission (1 or attempt to commit1 a   
fraud or deception on any p]son 9       
connection ) ! (f] or sale ( ! s]vices (
 ! au?oriz$ cr$it s]vices provid]4  7c7 
,m&atory disclosure ,except z o!rwise   
provid$ by law1 an au?oriz$ cr$it       
s]vices provid] %all disclose1 9 writ+  
or electronically1 ! foll[+ disclosure1 
or a sub/antially simil> disclosure1 to 
! consum] prior to ! au?oriz$ cr$it     
s]vices provid] comm5c+ cr$it & id5tity 
protection s]vices or cr$it education   
s]vices to ! consum]3 ,consum] ,cr$it   
,file ,rights ,y h a "r to dispute      
inaccurate in=mation 9 y\r cr$it report 
free ( *>ge by contact+ ! cr$it bureau  
directly4 ,h[ev]1 nei!r y nor any o!r   
company or organization has ! "r to h   
accurate1 curr5t1 & v]ifiable in=mation 

remov$ f y\r cr$it report4 ,"u ,f$]al   
law1 ! cr$it bureau mu/ remove accurate1
 negative in=mation f y\r report only if
 x is ov] #g ye>s old4 ,bankruptcy      
in=mation c be report$ = #aj ye>s4 ,x is
 unlawful to conceal1 di/ort1 or o!rwise
 provide mislead+ in=mation to a cr$it  
bureau4 ,y h a "r to obta9 a free copy (
 y\r cr$it report annually f ea* ( !    
?ree nationwide cr$it bureaus at        
www4annualcr$itreport4com4,y h a "r to  
obta9 a copy ( y\r cr$it report f a     
cr$it bureau at any o!r "t = a          
reasonable fee4 ,!re is no fee1 h[ev]1  
if y h be5 turn$ d[n = cr$it1 employm5t1
 insurance1 or a r5tal dwell+ because ( 
in=mation 9 y\r cr$it report )9 ! prec$+
 #fj days4 ,! cr$it bureau mu/ provide  
at no co/ to y someone to expla9 to y   
any in=mation 9 ! cr$it file disclosure 
y receive f ! cr$it report+ ag5cy4 ,y   
are entitl$ to receive a free copy ( y\r
 cr$it report if y are unemploy$ & int5d
 to apply = employm5t 9 ! next #fj days1
 if y are a recipi5t ( public welf>e    

assi/ance1 or if y h reason to believe t
 !re is inaccurate in=mation 9 y\r cr$it
 report due to fraud4,cr$it bureaus are 
requir$ to foll[ reasonable proc$ures to
 ensure t ! in=mation !y report is      
accurate4 ,h[ev]1 mi/akes may occur4,y  
may1 on y\r own1 notify a cr$it bureau 9
 writ+1 ?r\gh a toll-free telephone     
numb] e/abli%$ by ! cr$it bureau or     
?r\gh a function ( ! cr$it bureau's     
website1 if available1 t y dispute !    
accuracy ( in=mation 9 y\r cr$it file4  
,! cr$it bureau mu/ !n inve/igate y\r   
dispute & modify or remove inaccurate or
 incomplete in=mation4 ,! cr$it bureau  
may n *>ge any fee = ?is s]vice4 ,any   
p]t95t in=mation & copies ( all docum5ts
 y h conc]n+ an error %\ld be giv5 to ! 
cr$it bureau4,if ! cr$it bureau's       
inve/igation does n resolve ! dispute to
 y\r satisfaction1 y may s5d a brief    
/atem5t to ! cr$it bureau1 to be kept 9 
y\r file1 expla9+ :y y ?9k ! record is  
inaccurate4 ,! cr$it bureau mu/ include 
a summ>y ( y\r /atem5t ab\t disput$     

in=mation ) any report x issues ab\t    
y4,!re are _m diff]5t cr$it score models
 t c give an assessm5t ( y\r relative   
risk ( default = ! same cr$it report4   
,?is risk ( default is typically        
express$ 9 a ?ree-digit numb] kn[n z a  
cr$it score4 ,!re are v>i\s types (     
cr$it scores1 & l5d]s use a v>iety (    
diff]5t types ( cr$it scores to make    
l5d+ decisions4,! ,f$]al ,trade         
,commission is "o ( ! ag5cies t         
regulates cr$it bureaus4 ,= m in=mation 
visit www4consum]4ftc4gov4 ,y may also  
contact ! ,bureau ( ,consum] ,f9ancial  
,protection at www4consum]f9ance4gov4   
7d7 ,"r to t]m9ation ( contract  7#a7 ,9
 g5]al ,a consum] %all h ! "r to t]m9ate
 a contract = cr$it & id5tity !ft       
protection s]vices & cr$it education    
s]vices )9 ?ree bus9ess days beg9n+ on !
 date t ! consum] ent]s into su*        
contract ) ! au?oriz$ cr$it s]vices     
provid]4  7#b7 ,reasonable value provid$
 ,if a consum] t]m9ates a contract      
pursuant to p>agraph 7#a71 ! au?oriz$   

cr$it s]vices provid] %all be entitl$ to
 ! reasonable value = s]vices actually  
r5d]$ prior to t]m9ation1 n to exce$ !  
total am\nt paid by ! consum]1 b an     
au?oriz$ cr$it s]vices provid] is n     
entitl$ to reta9 any fees if no s]vices 
7 r5d]$4  7e7 ,en=cem5t by ,f$]al ,trade
 ,commission ,a violation ( ?is section 
%all be treat$ z a violation ( a rule   
issu$ "u section #ah7;a77#a77;,b7 ( !   
,f$]al ,trade ,commission ,act 7#ae     
,u4,s4,c4 #eg;a7a77#a77;,b77 reg>d+     
unfair or deceptive acts or practices4  
,! ,f$]al ,trade ,commission %all en=ce 
?is section 9 ! same mann]1 by ! same   
means1 & ) ! same jurisdiction1 p[]s1 & 
duties z ?\gh all applicable t]ms &     
provisions ( ! ,f$]al ,trade ,commission
 ,act 7#ae ,u4,s4,c4 #da et seq47 7     
incorporat$ into & made a "p ( ?is      
section4  #dbe4 ,applicability ( ,cr$it 
,repair ,organizations ,act to          
activities ( au?oriz$ cr$it s]vices     
provid]s o!r ?an cr$it & id5tity        
protection s]vices or cr$it education   

s]vices  7a7 ,en=cem5t by ,f$]al ,trade 
,commission ,! ,cr$it ,repair           
,organizations ,act 7#ae ,u4,s4,c4 #afgi
 et seq47 %all be en=c$ solely by !     
,f$]al ,trade ,commission 9 accordance )
 subsections 7a7 & 7b7 ( section #daj ( 
t ,act ) respect to any au?oriz$ cr$it  
s]vices provid]4  7b7 ,civil liability &
 adm9i/rative en=cem5t ,sections #dji & 
#daj7;c7 ( ! ,cr$it ,repair             
,organizations ,act 7#ae ,u4,s4,c4 #afgi
 et seq47 %all n apply to any au?oriz$  
cr$it s]vices provid]4  #dbf4 ,relation 
to ,/ate law  7a7 ,exemption = au?oriz$ 
cr$it s]vices provid]s ,! provisions (  
?is *apt] sup]s$e any law or regulation 
( any ,/ate ) respect to ! subject matt]
 ( ?is *apt] or ! ,cr$it ,repair        
,organizations ,act 7#ae ,u4,s4,c4 #afgi
 et seq47 to ! ext5t t ! ,/ate law w\ld 
apply to any au?oriz$ cr$it s]vices     
provid]4  7b7 ,/ate laws reg>d+ unfair  
or deceptive acts or practices n affect$
 ,except = any provision conta9$ 9 any  
,/ate law sup]s$$ "u subsection 7a71 ?is

 section is n int5d$ to preempt any law 
( any ,/ate t prohibits unfair or       
deceptive acts or practices1 includ+ !  
mak+ ( false or mislead+ /atem5ts 9 !   
m>ket+ ( products or s]vices4  #dbg4    
,process = regi/]+ z au?oriz$ cr$it     
s]vices provid]  7a7 ,application =     
regi/ration ,a p]son t seeks to be      
regi/]$ z an au?oriz$ cr$it s]vices     
provid] "u ! provisions ( ?is *apt] %all
 submit to ! ,f$]al ,trade ,commission  
an application = regi/ration t conta9s !
 in=mation describ$ 9 subsection 7b74   
7b7 ,requir$ in=mation ,an application =
 regi/ration "u ?is section %all conta9 
! foll[+3 7#a7 ,a /atem5t sett+ =? !    
p]son's full corporate organization1 all
 affiliates ( ! p]son1 & all (fic]s1    
directors1 & any o!r individuals )      
sub/antial managem5t ov]sight ov] !     
p]son4  7#b7 ,a /atem5t t ! p]son has   
elect$ to adh]e to1 & duly repres5ts &  
w>rants annually & publicly1 ! foll[+   
/&>ds3  7,a7 ,! p]son1 or any ( its     
affiliates1 does n advise or assi/      

consum]s 9 modify+ or remov+1 or        
attempt+ to modify or remove1 adv]se    
in=mation t is accurate & n obsolete f a
 consum]'s consum] report4  7,b7 ,!     
p]son1 or any ( its affiliates1 does n  
assi/ consum]s 9 alt]+ a consum]'s exi/+
 cr$it record1 cr$it hi/ory1 or cr$it   
score by conceal+ or di/ort+1 or        
attempt+ to conceal or di/ort1 adv]se   
in=mation t is accurate & n obsolete4   
7,c7 ,! p]son1 or any ( its affiliates1 
does n assi/ consum]s 9 int]act+ )      
consum] report+ ag5cies describ$ 9      
section #fjc7;f7 ( ! ,fair ,cr$it       
,report+ ,act 9 any mann] :i* int]f]es )
 ! lawful op]ation ( su* consum] report+
 ag5cies4  7,d7 ,! p]son1 or any ( its  
affiliates1 does n use ! t]m cr$it      
repair 9 its m>ket+ ( cr$it & id5tity   
protection s]vices & cr$it education    
s]vices4  7,e7 ,! p]son provides        
consum]s ) ! m&atory disclosure describ$
 9 section #dbd7;c7 prior to ent]+ into 
a contract or agreem5t = s]vices1 & a "r
 to cancellation1 9 accordance ) !      

provisions ( ?is *apt]4  7#c7 ,a copy ( 
! policies & proc$ures adopt$ &         
implem5t$ by ! p]son to ensure & docum5t
 compliance ) ! provisions ( ?is ,act1  
includ+1 policies & proc$ures =--  7,a7 
execut+ a contract ) ! consum] to       
comm5ce ! au?oriz$ s]vices2  7,b7       
provid+ ! m&atory disclosure set =? 9   
subsection #dbd7;c72  7,c7 provid+      
consum]s ) ! "r to t]m9ate a contract = 
s]vices 9 accordance ) subsection       
#dbd7;d72 &  7,d7 ^u t]m9ation1 det]m9+ 
! reasonable value ( s]vices actually   
r5d]$1 9 accordance ) ! provisions (    
#dbd7;d77#b74  7#d7 ,a g5]al description
 ( ! cr$it & id5tity protection s]vices 
& cr$it education s]vices t ! p]son     
plans to (f]1 sell1 provide1 or p]=m to 
or = consum]s "u ! provisions ( ?is     
,act4  7#e7 ,a /atem5t t ! p]son w--    
7,a7 on a bi5nial basis1 provide to !   
,f$]al ,trade ,commission an update1 if 
ne$$1 to ! p]son's corporate            
organization1 policies & proc$ures1 &   
g5]al description ( s]vices provid$     

pursuant to ?is subsection2  7,b7 on a  
bi5nial basis1 obta9 an assessm5t f a   
qualifi$1 objective1 indep5d5t1         
?ird-p>ty pr(essional ( ! p]son's actual
 compliance record ) ! repres5tations & 
w>ranties 9 p>agraph 7#b72 &  7,c7 reta9
 su* assessm5t & provide x to ! ,f$]al  
,trade ,commission z soon z reasonably  
practicable1 b 9 no ev5t m ?an #cj      
bus9ess days1 aft] ! ,f$]al ,trade      
,commission reque/s ! assessm5t4  7c7   
,consid]ation ( applications & exp$it$  
response  7#a7 ,tim+ ,! ,f$]al ,trade   
,commission %all act by approv+ or d5y+ 
applications submitt$ pursuant to ?is   
section )9 #fj days ( ! submission1 &   
%all set =? 9 writ+ its conclusions )   
reg>d to su* reque/s4  7#b7 ,additional 
in=mation ,! ,f$]al ,trade ,commission  
may reque/ t an applicant provide       
additional in=mation t is reasonably    
relat$ to "o or m ( ! application       
elem5ts enum]at$ 9 subsection 7b71      
includ+ by reque/+ t ! applicant submit 
supplem5tal mat]ials1 answ] que/ions 9  

writ+1 or appe> 9 p]son be=e !          
,commission]s or _! designee4  7#c7     
,deem$ regi/ration ,an application t has
 n be5 act$ ^u by ! ,f$]al ,trade       
,commission )9 #fj days ( submission    
%all be deem$ z approv$ & ! p]son %all  
be regi/]$ z an au?oriz$ cr$it s]vices  
provid]4  7#d7 ,ext5sion ( "t =         
additional in=mation ,if ! ,f$]al ,trade
 ,commission reque/s additional         
in=mation pursuant to p>agraph 7#b71 !  
applicant %all h up to #cj days to      
respond 9 writ+ or appe> be=e !         
,commission z reque/$4 ,! ,commission   
%all !n h an additional #cj days to act 
^u su* response1 & if n act$ ^u )9 #cj  
days1 ! application %all be deem$ z     
approv$ & ! p]son %all be regi/]$ z an  
au?oriz$ cr$it s]vices provid]4 ,9 no   
ev5t %all ! /atus ( an application rema9
 unresolv$ beyond #abj days f ! date (  
its orig9al submission4  7d7 ,revocation
  7#a7 ,9 g5]al ,! ,f$]al ,trade        
,commission %all h ! au?ority to resc9d 
a p]son's regi/ration t 0 issu$ "u ?is  

section if ! ,commission det]m9es t !   
p]son has fail$ to comply ) !           
obligations & /&>ds set =? 9 ?is ,act4  
7#b7 ,opportunity to cure defects ,!    
,f$]al ,trade ,commission %all provide  
an au?oriz$ cr$it s]vices provid] a     
reasonable opportunity to cure any      
defects be=e mov+ to revoke a p]son's   
regi/ration z an au?oriz$ cr$it s]vices 
provid]4  7#c7 ,retroactive ,revocation 
,if ! ,f$]al ,trade ,commission det]m9es
 t a p]son :o has regi/]$ z an au?oriz$ 
cr$it s]vices provid]1 or any ( !       
p]son's affiliates1 has--  7,a7 engag$ 9
 any activity describ$ "u subp>agraphs  
7,a7 ?r\gh 7,c7 ( subsection 7b77#b72   
7,b7 kn[+ly made false /atem5ts 9 any   
writt5 /atem5t requir$ "u ?is *apt]2 or 
7,c7 willfully or repeat$ly violat$1 or 
willfully or repeat$ly fail$ to obs]ve1 
any provision ( ?is ,act1  ! ,f$]al     
,trade ,commission %all h ! au?ority to 
deem a revocation effective at ! "t     
imm$iately prior to :5 ! activity       
occurr$4  7e7 ,judicial review (        

revocation  7#a7 ,9 g5]al ,any p]son =  
:om a regi/ration "u ?is section has be5
 revok$ may obta9 review ( su*          
revocation 9 a c\rt ( appeals ( ! ,unit$
 ,/ates 9 accordance ) ! proc$ures set  
=? 9 section #e7;c7 ( ! ,f$]al ,trade   
,commission ,act1 except t--  7,a7 !    
c\rt ( appeals %all hold unlawful & set 
aside a revocation if ! c\rt f9ds t !   
,f$]al ,trade ,commission's action is n 
support$ by sub/antial evid5ce 9 !      
adjudicatory record2 &  7,b7 ! fil+ ( a 
petition = review %all op]ate z a /ay ( 
! revocation until ! date on :i* !      
det]m9ation ( ! c\rt is f9al 7includ+   
any appeal ( ! det]m9ation71 b 9 ! ev5t 
! c\rt's f9al det]m9ation upholds       
revocation1 ! effective date ( !        
revocation %all be ! date z det]m9$ by !
 ,f$]al ,trade ,commission4  7#b7       
,adjudicatory record def9$ ,= purposes (
 ?is subsection1 ! t]m adjudicatory     
record means ! ,f$]al ,trade            
,commission's /atem5t ( basis & purpose 
= revocation1 ! p]son's regi/ration     

application mat]ials1 any writt5        
submissions by ! p]son or transcripts ( 
oral te/imony1 & any o!r evid5ce t !    
,commission consid]s relevant to !      
revocation4  7#c7 ,additional           
submissions & pres5tations ,if ! p]son  
or ! ,f$]al ,trade ,commission applies  
to ! c\rt = leave to make additional    
oral submissions or writt5 pres5tations 
& %[s to ! satisfaction ( ! c\rt t su*  
submissions & pres5tations w\ld be      
mat]ial & t !re 7 reasonable gr\nds = ! 
submissions & failure to make su*       
submissions & pres5tations 9 ! proce$+  
be=e ! ,commission1 ! c\rt may ord] !   
,commission to provide additional       
opportunity to make su* submissions &   
pres5tations4  4  7b7 ,effective date ,!
 am5dm5ts made by ?is section %all take 
effect aft] ! #fj-;day p]iod beg9n+ on !
 date ( ! enactm5t ( ?is ,act4