,,ii #aaeth ,,congress #b;d ,session ,s4 #bcfb ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,january #cj1 #bjah,mr4 ,reed introduced the following bill2 which was read twice and referred to the ,committee on ,banking1 ,housing1 and ,urban ,affairs ,a ,,bill ,to amend the ,fair ,credit ,reporting ,act to require that a consumer authorize the release of certain information4 #a4 ,short title ,this ,act may be cited as the ,control ,your ,personal ,credit ,information ,act of #bjah4 #b4 ,permissible purposes of reports 7a7 ,in general ,the ,fair ,credit ,reporting ,act 7#ae ,u4,s4,c4 #afha et seq47 is amended-- 7#a7 in section #fjd 7#ae ,u4,s4,c4 #afha;b7-- 7,a7 by striking subsections 7c7 through 7e7 and inserting the following3 7c7 ,conditions for furnishing certain consumer reports 7#a7 ,in general ,a consumer reporting agency may furnish a consumer report for the following purposes only if the consumer provides the consumer reporting agency with affirmative written consent to furnish the consumer report1 after furnishing proper identification under section #faj3 7,a7 ,an extension of credit pursuant to subsection 7a77#c77;,a74 7,b7 ,the underwriting of insurance pursuant to subsection 7a77#c77;,c74 7#b7 ,additional reports2 election ,after a consumer has provided affirmative written consent and furnished proper identification under paragraph 7#a7 to a consumer reporting agency1 the consumer reporting agency may continue to furnish consumer reports solely for the purposes of reviewing or collecting on an account described in subparagraphs 7,a7 and 7,c7 of subsection 7a77#c74 7#c7 ,furnishing reports in connection with credit or insurance transactions that are not initiated by consumer 7,a7 ,in general ,a consumer reporting agency may furnish a consumer report to a person in connection with any credit or insurance transaction under subparagraph 7,a7 or 7,c7 of subsection 7a77#c7 that is not initiated by the consumer only if-- 7i7 the consumer provides the consumer reporting agency affirmative written consent to furnish the consumer report1 after furnishing proper identification under section #faj2 and 7ii7 the transaction consists of a firm offer of credit or insurance4 7,b7 ,election ,the consumer may elect to-- 7i7 have the consumer's name and addresses included in lists of names and addresses provided by the consumer reporting agency pursuant to subparagraphs 7,a7 and 7,c7 of subsection 7a77#c7 in connection with any credit or insurance transaction that is not initiated by the consumer only if-- 7,i7 the consumer provides the consumer reporting agency affirmative written consent to furnish the consumer report1 after furnishing proper identification under section #faj2 and 7,,ii7 the transaction consists of a firm offer of credit or insurance2 and 7ii7 revoke at any time the election pursuant to clause 7i7 to have the consumer's name and address included in lists provided by a consumer reporting agency4 7,c7 ,information regarding inquiries ,except as provided in section #fji7;a77#e71 a consumer reporting agency shall not furnish to any person a record of inquiries in connection with a credit or insurance transaction that is not initiated by a consumer4 7#d7 ,disclosures 7,a7 ,in general ,a person may not procure a consumer report for any purpose pursuant to subparagraphs 7,d71 7,f71 and 7,g7 of subsection 7a77#c7 unless-- 7i7 a clear and conspicuous disclosure has been made in writing to the consumer at any time before the report is procured or caused to be procured1 in a document that consists solely of the disclosure1 that a consumer report may be obtained for such purposes2 and 7ii7 the consumer has authorized in writing the procurement of the consumer report by that person4 7,b7 ,authorizations ,the authorization described in subparagraph 7,a77ii7 may be made on the disclosure document provided under subparagraph 7,a77i74 7#e7 ,rule making ,not later than #ahj days after the date of enactment of the ,control ,your ,personal ,credit ,information ,act of #bjah1 the ,director of the ,bureau shall promulgate regulations that-- 7,a7 implement this subsection2 7,b7 establish a model form for the disclosure document pursuant to paragraph 7#d7 and define the term clear and conspicuous disclosure2 7,c7 establish guidelines that permit consumers to provide a single written authorization as required by paragraph 7#a7 for a specific time period for multiple users for the specified purpose during that time period2 7,d7 require a consumer reporting agency to provide to each consumer a secure1 convenient1 accessible1 and cost-free method by which a consumer may allow or disallow the furnishing of consumer reports pursuant to this subsection2 and 7,e7 require a consumer reporting agency not later than #b business days after the date on which a consumer makes an election to revoke the consumer's inclusion of the consumer's name and address in lists provided by a consumer reporting agency pursuant to paragraph 7#c77;,b7 to implement that election4 7#f7 ,prohibitions 7,a7 ,in general ,the method described in paragraph 7#e77;,d7 shall not be used to-- 7i7 collect any information on a consumer that is not necessary for the purpose of the consumer to allow or disallow the furnishing of consumer reports2 or 7ii7 advertise any product or service4 7,b7 ,no waiver ,in the offering of a method described in paragraph 7#e77;,d71 a consumer reporting agency shall not require a consumer to waive any rights nor indemnify the consumer reporting agency from any liabilities arising from the offering of such method4 7#g7 ,reports 7,a7 ,,cfpb 7i7 ,recommendation ,not later than #ahj days after the date of enactment of the ,control ,your ,personal ,credit ,information ,act of #bjah1 the ,director of the ,bureau shall1 after consultation with the ,federal ,deposit ,insurance ,corporation1 the ,national ,credit ,union ,administration1 and other ,federal and ,state regulators as the ,director of the ,bureau determines are appropriate1 submit to the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate and the ,committee on ,financial ,services of the ,house of ,representatives recommendations on how to provide consumers greater transparency and personal control over their consumer reports furnished for permissible purposes under subsections 7a77#c77;,e7 and 7a77#f74 7ii7 ,report ,the ,director of the ,bureau shall submit to the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate and the ,committee on ,financial ,services of the ,house of ,representatives an annual report that includes recommendations on how this subsection may be improved1 a description of enforcement actions taken to demonstrate compliance with this subsection1 recommendations on how to improve oversight of consumer reporting agencies and users of consumer reports1 and any other recommendations concerning how consumers may be provided greater transparency and control over their personal information4 7,b7 ,,gao 7i7 ,study ,the ,comptroller ,general of the ,united ,states shall conduct a study on what additional protections or restrictions may be needed to ensure that the information collected in consumer files is secure and does not adversely impact consumers4 7ii7 ,report ,not later than #a year after the date of enactment of the ,control ,your ,personal ,credit ,information ,act of #bjah1 the ,comptroller ,general of the ,united ,states shall submit to the ,committee on ,banking1 ,housing1 and ,urban ,affairs of the ,senate and the ,committee on ,financial ,services of the ,house of ,representatives a report on the results of the study under clause 7i71 which shall include-- 7,i7 to the greatest extent possible1 the presentation of unambiguous conclusions and specific recommendations for further legislative changes needed to ensure that the information collected in consumer files is secure and does not adversely impact consumers2 and 7,,ii7 if no recommendations for further legislative changes are presented1 a detailed explanation of why no such changes are recommended4 2 7,b7 by redesignating subsections 7f7 and 7g7 as subsections 7d7 and 7e71 respectively2 and 7,c7 by adding at the end the following3 7f7 ,no fees ,no consumer reporting agency may charge a consumer any fee for any activity pursuant to this section4 2 7#b7 in section #fjg7;a7 7#ae ,u4,s4,c4 #afha;e7a771 by inserting ,every consumer reporting agency shall use commercially reasonable efforts to avoid unauthorized access to consumer reports and information in the file of a consumer maintained by the consumer reporting agency1 including complying with any appropriate standards established under section #eja7;b7 of the ,gramm-,leach-,bliley ,act 7#ae ,u4,s4,c4 #fhja7;b774 after the end of the third sentence2 7#c7 in section #fji 7#ae ,u4,s4,c4 #afha;g71 by striking subsection 7b7 and inserting the following3 7b7 ,scope of disclosure ,the ,director of the ,bureau shall promulgate regulations to clarify that any information held by a consumer reporting agency about a consumer shall be disclosed to the consumer when a consumer makes a written request1 irrespective of whether the information is held by the parent1 subsidiary1 or affiliate of a consumer reporting agency4 2 and 7#d7 in section #faj7;a77#a7 7#ae ,u4,s4,c4 #afha;h7a77#a771 by striking section #fji and inserting sections #fjd and #fji4 7b7 ,technical and conforming amendments ,the ,fair ,credit ,reporting ,act 7#ae ,u4,s4,c4 #afha et seq47 is amended-- 7#a7 in section #fjc7;d77#c7 7#ae ,u4,s4,c4 #afha;a7d77#c771 in the matter preceding subparagraph 7,a71 by striking #fjd7;g77#c7 and inserting #fjd7;e77#c72 7#b7 in section #fae7;d7 7#ae ,u4,s4,c4 #afham7d77-- 7,a7 in paragraph 7#a7-- 7i7 in the matter preceding subparagraph 7,a71 by striking #fjd7;c77#a77;,b7 and inserting #fjd7;c77#c77;,a77ii72 and 7ii7 in subparagraph 7,e71 by striking #fjd7;e7 and inserting #fjd7;c77#e77;,d72 and 7,b7 in paragraph 7#b77;,a71 by striking #fjd7;e7 and inserting #fjd7;c77#e77;,d72 and 7#c7 in section #fbe7;b77#a77;,a7 7#ae ,u4,s4,c4 #afhat7b77#a77;,a771 by striking subsection 7c7 or 7e7 of section #fjd and inserting #fjd7;c74