,,ib ,union ,cal5d> ,no4 #bdg #aaf? ,,congress #a/ ,session ,h4 ,r4 #cfah ,report ,no4 #aaf-cjf ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,july #e1 #bjai ,mrs4 ,beatty introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,f9ancial ,s]vices ,novemb] #ba1 #bjai;,additional sponsor3 ,mr4 ,cleav] ,novemb] #ba1 #bjai ,report$ ) an am5dm5t1 committ$ to ! ,committee ( ! ,:ole ,h\se on ! ,/ate ( ! ,union1 & ord]$ to be pr9t$ ,/rike out all aft] ! enact+ clause & ins]t ! "p pr9t$ 9 italic ,= text ( introduc$ bill1 see copy ( bill z introduc$ on ,july #e1 #bjai ,a ,,bill ,to e/abli% requirem5ts relat+ to cr$it scores & educational cr$it scores1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,free ,cr$it ,scores = ,consum]s ,act ( #bjai4 #b4 ,f9d+s ,congress f9ds ! foll[+3 7#a7 ,:ile nationwide consum] report+ ag5cies 7,c,r,as7 are requir$ by law to supply consum]s ) a free copy ( _! cr$it report annually1 !y c *>ge consum]s to obta9 a cr$it score disclosure4 7#b7 ,a ,july #bjaa report by ! ,consum] ,f9ancial ,protection ,bureau 7,consum] ,bureau7 titl$ ,! ,impact ( ,diff]5ces betwe5 ,consum]- & ,cr$itor-,pur*as$ ,cr$it ,scores f\nd t ! cr$it scores made available to & pur*as$ by consum]s f ,c,r,as are unlikely to be ! same cr$it scores us$ by cr$itors & l5d]s to evaluate consum]s' cr$itwor?9ess4 7#c7 ,t report f\nd t ! sc>city ( public educational tools to in=m consum]s ( ! diff]5ces among cr$it scores1 ! l>ge comb9$ m>ket %>e & br& recognition ( ,,fico cr$it scores1 & ! m>ket+ practices ( "s cr$it score sell]s may p]petuate consum]s' confusion ab\t cr$it scores4 ,z a result1 "s consum]s may be pur*as+ an educational cr$it score or subscrib+ to a cr$it monitor+ s]vice sold by a ,,cra1 )\t realiz+ ! limitations & usefulness ( ^! products & s]vices4 7#d7 ,simil>ly1 a ,septemb] #bjab ,consum] ,bureau report titl$ ,analysis ( ,diff]5ces betwe5 ,consum]- & ,cr$itor-,pur*as$ ,cr$it ,scores f\nd t consum]s d n "k be=e !y pur*ase a cr$it score f a ,,cra :e!r ?is cr$it score w closely track or v>y significantly f ! cr$it score sold to cr$itors or l5d]s4 ,giv5 ! lack ( transp>5cy ab\t ! usefulness ( cr$it scores t are m>ket$ = pur*ase by consum]s f ,c,r,as & ! result+ consum] confusion1 ! ,consum] ,bureau recomm5d$ t companies sell+ scores to consum]s cle>ly in=m consum]s t ! scores m>ket$ to consum]s = pur*ase by ,c,r,as c v>y1 sometimes sub/antially1 f ! scores t are actually sold to & us$ by cr$itors & l5d]s4 7#e7 ,a ,febru>y #bjaa /udy by ,consum] ,f$]ation ( ,am]ica & ,vantage,score also f\nd t half ( ! consum]s survey$ did n "k t a cr$it score is design$ to indicate ! risk ( n repay+ a cr$it obligation4 ,consum]s also did n "k :o makes cr$it scores available1 :at num]ical range con/itutes excell5t cr$it /&+1 or ! f9ancial implications ( hav+ a l[ cr$it score4 7#f7 ,_m consum]s d n realize t !y h m ?an j "o cr$it score4 ,because ! submission ( cr$it in=mation to ,c,r,as is volunt>y & n all furni%]s submit in=mation to e ,,cra1 ! in=mation conta9$ 9 a report also v>ies among ,c,r,as4 ,z a result1 ! cr$it score g5]at$ by ea* ,,cra is also likely to v>y1 result+ 9 pot5tially diff]5t cr$it decisions bas$ on an evaluation ( diff]5t cr$it reports obta9$ f diff]5t ,c,r,as4 7#g7 ,a ,febru>y #bjae ,consum] ,bureau report titl$ ,consum] ,voices on ,cr$it ,reports & ,scores f\nd t consum]s _h que/ions ab\t :at actions to take to improve _! scores once !y _h se5 !m1 sugge/+ t additional disclosures & educational cont5t w\ld be helpful to consum]s4 ,! ,consum] ,bureau f\nd t consum]s 7 confus$ by conflict+ advice on h[ to improve _! scores4 7#h7 ,t report also not$ t consum]s f\nd ! process = obta9+ consum] reports & cr$it scores confus+4 ,consum]s also 7 unc]ta9 ab\t :e!r1 & "u :at circum/ances1 !y c\ld obta9 a consum] report = free4 #c4 ,def9itions 7a7 ,9 g5]al ,section #fjc ( ! ,fair ,cr$it ,report+ ,act 7#ae ,u4,s4,c4 #afha;a7 is am5d$ by add+ at ! end ! foll[+ new subsection3 7bb7 ,cr$it score & educational cr$it score def9itions 7#a7 ,cr$it score ,! t]m cr$it score means a num]ical value or a categorization d]iv$ f a /ati/ical tool or model+ sy/em us$ by a p]son :o makes or arranges a loan or ext5ds cr$it to pr$ict ! likelihood ( c]ta9 cr$it behaviors1 includ+ default1 z det]m9$ by ! ,bureau4 7#b7 ,educational cr$it score ,! t]m educational cr$it score means a num]ical value or categorization d]iv$ f a /ati/ical tool or model+ sy/em bas$ ^u in=mation f a consum] report t assi/s consum]s 9 und]/&+ h[ a l5d] or cr$itor may view ! consum]'s cr$itwor?9ess 9 decid+ :e!r to make a loan or ext5d cr$it to t consum]4 7#c7 ,key factors ,! t]m key factors means relevant elem5ts or reasons affect+ ! cr$it score = ! p>ticul> individual1 li/$ 9 ! ord] ( importance bas$ on ! effect ( ea* elem5t or reason on ! cr$it score or educational cr$it score4 7#d7 ,cr$it scor+ model ,! t]m cr$it scor+ model means a scor+ algori?m1 =mula1 model1 program1 or me*anism us$ to g5]ate a cr$it score or an educational cr$it score4 4 7b7 ,con=m+ am5dm5ts ,! ,fair ,cr$it ,report+ ,act 7#ae ,u4,s4,c4 #afha et seq47 is am5d$-- 7#a7 9 section #fje7;d77#b71 by /rik+ 7z def9$ 9 section #fji7;f77#b77;,b772 & 7#b7 9 section #fae-- 7,a7 by /rik+ z def9$ 9 section #fji7;f77#b77;,a7 ea* place t t]m appe>s2 & 7,b7 by /rik+ set =? 9 subp>agraphs 7,b7 ?r\gh 7,e7 ( section #fji7;f77#a7 & ins]t+ ) respect to a cr$it score describ$ 9 section #fji7;f77#b71 if available ea* place t t]m appe>s4 #d4 ,exp&s explanatory in=mation giv5 to consum]s ab\t h[ scores are calculat$ ,section #fji7;f7 ( ! ,fair ,cr$it ,report+ ,act 7#ae ,u4,s4,c4 #afha;g7f77 is am5d$ to read z foll[s3 7f7 ,disclosure ( cr$it score & educational cr$it score by consum] report+ ag5cies 7#a7 ,9 g5]al ,^u ! reque/ ( a consum] = a cr$it score or educational cr$it score1 a consum] report+ ag5cy %all supply to ! consum] a /atem5t-- 7,a7 conta9+-- 7i7 a curr5t cr$it score at ! "t ( ! reque/ g5]at$ us+ a commonly us$ cr$it scor+ model to g5]ate cr$it scores1 subject to regulations ( ! ,bureau2 7ii7 an educational cr$it score at ! "t ( ! reque/1 if x is n practicable to g5]ate su* a cr$it score1 z det]m9$ by ! ,bureau2 or 7iii7 an explanation t ! consum]'s file does n h suffici5t in=mation f :i* to g5]ate su* a cr$it score or educational cr$it score2 & 7,b7 ) respect to ea* previ\s cr$it score 9 ! file ( ! consum]-- 7i7 ! date on :i* ! cr$it score 0 g5]at$2 7ii7 ! "n ( any entity t ! cr$it score 0 provid$ to2 & 7iii7 ! cr$it score itself4 7#b7 ,requirem5ts ,a /atem5t provid$ "u clause 7i7 or 7ii7 ( p>agraph 7#a77;,a7 %all include-- 7,a7 a m9imum ( #d key factors1 if available1 t adv]sely affect$ ! cr$it score or educational cr$it score1 except t if "o ( ! key factors consi/s ( ! numb] ( enquiries made ) respect to a consum] report1 t factor %all be provid$ to ! consum] 9 addition to ! factors requir$ by ?is subp>agraph2 7,b7 to ! ext5t possible1 specific actions a consum] c\ld take ) respect to ea* key factor li/$ 9 subp>agraph 7,a7 to improve ! consum]'s cr$it score or educational cr$it score2 7,c7 a m9imum ( #d key factors1 if available1 t positively affect$ ! cr$it score or educational cr$it score2 7,d7 ! range ( possible cr$it scores or educational cr$it scores "u ! cr$it scor+ model us$2 7,e7 ! di/ribution ( cr$it scores or educational cr$it scores among consum]s :o are scor$ "u ! same cr$it scor+ model by ! consum] report+ ag5cy1 & us+ ! same scale z t ( ! score t is provid$ to a cr$itor or consum]s-- 7i7 9 ! =m ( a b> graph conta9+ a m9imum ( #f b>s t illu/rates ! p]c5tage ( consum]s ) cr$it scores or educational cr$it scores )9 ! range ( scores repres5t$ by ea* b>2 or 7ii7 by ano!r cle> & readily und]/&able graphical depiction1 /atem5t1 or illu/ration comp>+ ! consum]'s cr$it score or educational cr$it score to ! scores ( o!r consum]s1 z det]m9$ by ! ,bureau2 7,f7 ! date on :i* ! cr$it score or educational cr$it score 0 creat$2 & 7,g7 ! "n ( ! p]son t develop$ ! cr$it scor+ model on :i* ! cr$it score or educational cr$it score 0 bas$4 7#c7 ,applicability to c]ta9 uses ,?is subsection %all n be con/ru$ s z to compel a consum] report+ ag5cy to-- 7,a7 develop or disclose a cr$it score if ! ag5cy does n di/ribute cr$it scores us$ by a p]son :o makes or arranges a loan or ext5ds cr$it to pr$ict ! likelihood ( c]ta9 cr$it behaviors2 or 7,b7 develop or disclose an educational cr$it score if ! ag5cy does n develop educational cr$it scores t assi/ 9 und]/&+ ! g5]al cr$it behavior ( a consum] & pr$ict+ ! future cr$it behavior ( ! consum]4 7#d7 ,ma9t5ance ( cr$it scores 7,a7 ,9 g5]al ,all consum] report+ ag5cies %all ma9ta9 9 ! consum]'s file cr$it scores relat+ to ! consum] = a p]iod ( #b ye>s f ! date on :i* su* in=mation is g5]at$4 7,b7 ,disclosure only to consum]s ,a pa/ cr$it score ma9ta9$ 9 a consum]'s file pursuant to subp>agraph 7,a7 may only be provid$ to ! consum] to :i* ! cr$it score relates & may n be includ$ 9 a consum] report or us$ z a factor 9 g5]at+ a cr$it score or educational cr$it score4 7,c7 ,removal ( pa/ cr$it scores ,a pa/ cr$it score ma9ta9$ 9 a consum]'s file pursuant to subp>agraph 7,a7 %all be remov$ f ! consum]'s file aft] ! end ( ! #b-ye> p]iod describ$ "u subp>agraph 7,a74 4 #e4 ,requires consum] report+ ag5cies to disclose prom95tly ! diff]5ces betwe5 & limitations ( cr$it scores & educational cr$it scores requir$ prior to a consum] obta9+ su* scores ,section #fji7;f7 ( ! ,fair ,cr$it ,report+ ,act 7#ae ,u4,s4,c4 #afha;g7f771 z am5d$ by section #c1 is fur!r am5d$ by add+ at ! end ! foll[+ new p>agraphs3 7#e7 ,website disclaim] ,a consum] report+ ag5cy t g5]ates or provides cr$it scores or educational cr$it scores %all cle>ly & conspicu\sly display on ! home page ( ! ag5cy's ,int]net website1 & z "p ( any application1 solicitation1 or m>ket+ mat]ial or m$ia provid+ in=mation relat$ to a cr$it score or educational cr$it score1 ! foll[+ notice1 9 boldface type ( #ah-po9t font or l>g] & 9 a text box ) boldface out] bord]s3 ,cr$it score disclaim] ,!re is no 8"o0 cr$it score4 ,!re are _m scor+ =mulas d]iv$ f a wide v>iety ( models available to a consum] & us$ by l5d]s & cr$itors4 ,diff]5t l5d]s & cr$itors use diff]5t scor+ =mulas to det]m9e :e!r to ext5d cr$it or make a loan to y1 & ! t]ms ( ! cr$it or loan4 ,an educational cr$it score is n a cr$it score t a p]son :o makes a loan or ext5ds cr$it to y is likely to use4 ,educational cr$it scores are m]ely int5d$ to be us$ z an educational tool to help consum]s und]/& h[ ! in=mation conta9$ 9 a consum] report may affect ! t]ms & conditions ( a loan or ext5sion ( cr$it t may be available to a consum]4 ,l5d]s & cr$itors may also rely on in=mation n conta9$ 9 y\r consum] report & n reflect$ 9 ! calculation ( y\r cr$it score4 4 7#f7 ,additional requirem5ts = educational cr$it scores 7,a7 ,disclaim] ,if an educational cr$it score is provid$ pursuant to p>agraph 7#a71 a consum] report+ ag5cy %all cle>ly & conspicu\sly include 9 a prom95t location on ! /atem5t1 9 boldface type ( #ah-po9t font or l>g]1 & 9 a text box ) boldface out] bord]s1 ! foll[+ notice3 ,educational cr$it score disclaim] ,! educational cr$it score provid$ to y is n a cr$it score t a l5d] or cr$itor is likely to use to make a loan or ext5d cr$it to y4 ,!re are _m diff]5t cr$it scores d]iv$ f a wide v>iety ( models us$ by l5d]s & cr$itors4 ,an educational cr$it score is m]ely an educational tool4 ,x is int5d$ to provide consum]s ) a basic und]/&+ ( h[ ! in=mation conta9$ 9 a consum] report may affect ! t]ms & conditions ( cr$it t are available4 ,! cr$it scores y receive directly f diff]5t l5d]s & cr$itors may n be ! same z an educational cr$it score4 ,!re are a numb] ( reasons = ?is3 7#a7 ,ea* company may use a diff]5t =mula = calculat+ cr$it scores & ! diff]5ces 9 ! =mulas may lead to diff]5ces 9 y\r scores4 7#b7 ,companies may produce scores t give results on diff]5t scales4 7#c7 ,n all l5d]s or cr$itors report to e consum] report+ ag5cy1 & !re=e ! in=mation conta9$ 9 y\r consum] report t ! consum] report+ ag5cies use to calculate y\r educational cr$it score may diff] among ag5cies4 4 7,b7 ,prohibition on mislead+ repres5tations ,a consum] report+ ag5cy may n ref] to an educational cr$it score z a cr$it score 9 any application1 solicitation1 m>ket+1 or o!r in=mational mat]ials or m$ia4 7#g7 ,modification ( disclaim]s ,! ,bureau may modify ! cont5t1 =mat1 & mann] ( ! disclaim]s requir$ "u p>agraphs 7#e7 & 7#f71 if w>rant$1 aft] conduct+ consum] te/+ or rese>*4 4 #f4 ,provides consum]s ) free cr$it score disclosures ) _! free annual consum] reports ^u reque/ & creates in/ances :5 consum]s automatically receive free consum] reports & cr$it scores 7a7 ,9 g5]al ,section #fab ( ! ,fair ,cr$it ,report+ ,act 7#ae ,u4,s4,c4 #afha;j7 is am5d$-- 7#a7 9 subsection 7a7-- 7,a7 9 p>agraph 7#a7-- 7i7 9 subp>agraph 7,a71 by ins]t+ aft] section #fji ! foll[+3 7includ+ ! disclosure ( a cr$it score or educational cr$it score "u subsection 7f7 ( su* section72 & 7ii7 9 subp>agraph 7,c7-- 7,i7 by /rik+ ,commission ea* place su* t]m appe>s & ins]t+ ,bureau2 & 7,,ii7 by ins]t+ 1 cr$it scores1 & educational cr$it scores 7z applicable7 aft] consum] reports ea* place t t]m appe>s2 7,b7 9 p>agraph 7#b7-- 7i7 by /rik+ #ae days & ins]t+ #c bus9ess days2 & 7ii7 by ins]t+ 1 cr$it score1 or educational cr$it score aft] consum] report2 7,c7 9 p>agraph 7#c71 by ins]t+ 1 cr$it score1 or educational cr$it score aft] consum] report2 & 7,d7 9 p>agraph 7#d71 by ins]t+ 1 cr$it scores1 or educational cr$it scores aft] consum] reports2 7#b7 9 subsection 7b71 by ins]t+ 7includ+ ! disclosure ( a cr$it score or educational cr$it score1 z applicable1 "u subsection 7f7 ( su* section7 aft] section #fji2 7#c7 9 subsection 7c7-- 7,a7 by ins]t+ 7includ+ ! disclosure ( a cr$it score or educational cr$it score "u subsection 7f7 ( su* section7 aft] pursuant to section #fji2 7,b7 9 p>agraph 7#b71 by /rik+ 2 or & ins]t+ a semicolon2 7,c7 9 p>agraph 7#c71 by /rik+ ! p]iod at ! end & ins]t+ a semicolon2 & 7,d7 by add+ at ! end ! foll[+ new p>agraphs3 7#d7 has disput$ in=mation1 or submitt$ an appeal ( an inve/igation or re9ve/igation ( su* in=mation1 "u section #faa or #fbc1 reg>dless ( :e!r ! consum] has already receiv$ a cr$it report1 cr$it score1 or educational cr$it score "u section #faa or #fbc2 or 7#e7 has _h in=mation t 0 previ\sly delet$ "u section #faa7;a77#e7 re9s]t$ into ! consum]'s file1 reg>dless ( :e!r ! consum] has already receiv$ a cr$it report1 cr$it score1 or educational cr$it score "u su* section4 2 7#d7 9 subsection 7d71 by ins]t+ 7includ+ ! disclosure ( a cr$it score or educational cr$it score "u subsection 7f7 ( su* section7 aft] section #fji2 7#e7 9 subsection 7f77#a7-- 7,a7 by /rik+ reasonable *>ge & all t foll[s ?r\gh section #fji & ins]t+ reasonable *>ge on a consum] = provid+ a consum] report to a consum]2 7,b7 by /rik+ subp>agraph 7,b72 7,c7 by r$esignat+ clauses 7i7 & 7ii7 z subp>agraphs 7,a7 & 7,b71 respectively 7& con=m+ ! m>g9s accord+ly72 & 7,d7 9 subp>agraph 7,b7 7z s r$esignat$71 by /rik+ disclosure2 & & ins]t+ disclosure42 & 7#f7 by add+ at ! end ! foll[+ new subsections3 7h7 ,c5traliz$ s\rce = obta9+ free copy ( consum] report & scores 7#a7 ,nationwide consum] report+ ag5cies 7,a7 ,9 g5]al ,n lat] ?an #ahj days aft] ! date ( enactm5t ( ?is subsection1 ea* consum] report+ ag5cy describ$ "u subsection 7p7 ( section #fjc %all prom95tly display on ! home page ( ! ag5cy's website-- 7i7 a hyp]l9k label$ ,get ,y\r ,free ,annual ,cr$it ,reports along ) ei!r y\r ,cr$it ,scores or ,educational ,cr$it ,scores provid$ = "u ,f$]al ,law or sub/antially simil> text1 z det]m9$ by ! ,bureau2 & 7ii7 a disclosure titl$ ,consum]'s ,"r to ,free ,cr$it ,scores1 ,educational ,cr$it ,scores1 & ,reports "u ,f$]al ,law or sub/antially simil> text1 z det]m9$ by ! ,bureau t includes ! foll[+ /atem5t3 ,all consum]s are entitl$ to obta9 a free copy ( _! consum] report & cr$it score or educational cr$it score annually f ea* ( ! nationwide consum] report+ ag5cies4 ,"u ,f$]al law1 a consum] is entitl$ to obta9 additional free copies ( _! consum] reports1 along ) a copy ( ei!r ! consum]'s cr$it score or educational cr$it score 7"u c]ta9 circum/ances71 includ+3 7#a7 ,:5 a consum] is unemploy$ & int5ds to apply = employm5t )9 #fj days4 7#b7 ,:5 a consum] is a recipi5t ( public welf>e assi/ance4 7#c7 ,:5 a consum] has a reasonable belief t _! report conta9s inaccuracies z a result ( fraud4 7#d7 ,:5 a consum] ass]ts 9 good fai? a suspicion t ! consum] has be5 or is ab\t to become a victim ( id5tity !ft1 fraud1 or a relat$ crime1 or h>m$ by ! unau?oriz$ disclosure ( ! consum]'s f9ancial or p]sonally id5tifiable in=mation4 7#e7 ,:5 a consum] files a dispute or an appeal ( ! results ( a dispute ) a consum] report+ ag5cy or a p]son :o furni%$ in=mation to ! consum] report+ ag5cy reg>d+ ! accuracy or complet5ess ( ! in=mation conta9$ on _! report4 7#f7 ,aft] a furni%] ( in=mation discov]s x has furni%$ inaccurate or incomplete in=mation to a consum] report+ ag5cy1 & ! furni%] notifies ! ag5cy ( ! error4 7#g7 ,aft] an adv]se action is tak5 aga9/ a consum] or a consum] receives a risk-bas$ pric+ notice4 7#h7 ,:5 a mortgage l5d]1 private educational l5d]1 indirect auto l5d]1 or motor vehicle l5d] obta9s & uses a consum]'s reports or scores = und]writ+ purposes4 4 7,b7 ,hyp]l9k requirem5ts ,! hyp]l9k describ$ 9 subp>agraph 7,a77i7 %all be prom95tly locat$ on ! top ( ! home page & %\ld l9k directly to ! website ( ! c5traliz$ s\rce e/abli%$ pursuant to section #baa7;d7 ( ! ,fair & ,accurate ,cr$it ,transactions ,act ( #bjjc 7#ae ,u4,s4,c4 #afha;j note74 7,c7 ,modifications ,! ,bureau may modify ! disclosure describ$ 9 subp>agraph 7,a77ii7 z necess>y to include o!r circum/ances "u :i* a consum] has ! "r to receive a free consum] report1 cr$it score1 or educational cr$it score4 7#b7 ,nationwide specialty consum] report+ ag5cies 7,a7 ,9 g5]al ,n lat] ?an #ahj days aft] ! date ( enactm5t ( ?is subsection1 ea* nationwide specialty consum] report+ ag5cy %all prom95tly display on ! ,int]net home webpage ( ! ag5cy a disclosure titl$ ,consum]'s ,"r to ,free ,consum] ,reports & ,cr$it ,score or ,educational ,cr$it ,score 7z applicable7 "u ,f$]al ,law4 ,su* disclosure %all include ! foll[+ /atem5t3 ,^u reque/1 all consum]s are entitl$ to obta9 a free copy ( _! consum] report & cr$it score or educational cr$it score 7z applicable7 dur+ any #ab-mon? p]iod f ea* ( ! nationwide specialty consum] report+ ag5cies4 ,f$]al law also provides fur!r circum/ances "u :i* a consum] is entitl$ to obta9 additional free copies ( _! consum] report & cr$it score or educational cr$it score 7z applicable7 includ+3 7#a7 ,:5 a consum] is unemploy$ & int5ds to apply = employm5t )9 #fj days4 7#b7 ,:5 a consum] is a recipi5t ( public welf>e assi/ance4 7#c7 ,:5 a consum] has a reasonable belief t _! report conta9s inaccuracies z a result ( fraud4 7#d7 ,:5 a consum] files a dispute or an appeal ( ! results ( a dispute ) a consum] report+ ag5cy or a p]son :o furni%$ in=mation to ! consum] report+ ag5cy reg>d+ ! accuracy or complet5ess ( ! in=mation conta9$ on _! report4 7#e7 ,aft] a furni%] ( in=mation discov]s x has furni%$ inaccurate or incomplete in=mation to a consum] report+ ag5cy1 & ! furni%] notifies ! ag5cy ( ! error4 7#f7 ,aft] an adv]se action is tak5 aga9/ a consum] or a consum] receives a risk-bas$ pric+ notice4 7#g7 ,:5 a mortgage l5d]1 private educational l5d]1 indirect auto l5d]1 or motor vehicle l5d] obta9s & uses a consum]'s reports or scores = und]writ+ purposes4 4 7,b7 ,modifications ,! ,bureau may modify ! disclosure describ$ 9 subp>agraph 7,a7 z necess>y to include o!r circum/ances "u :i* a consum] has ! "r to receive a free consum] report & cr$it score or educational cr$it score 7z applicable74 7,c7 ,toll-free telephone access ,! in=mation describ$ 9 ?is p>agraph %all also be made available via a toll-free telephone numb]4 ,su* numb] %all be prom95tly display$ on ! home page ( ! website ( ea* nationwide specialty consum] report+ ag5cy4 ,ea* ( ! circum/ances "u :i* a consum] may obta9 a free consum] report & cr$it score or educational cr$it score 7z applicable7 %all be pres5t$ 9 an easily und]/&able =mat & consum]s %all be direct$ to an individual :o is a cu/om] s]vice repres5tative n lat] ?an #b m9utes aft] ! initial phone connection is made by ! consum]4 ,in=mation provid$ ?r\gh su* telephone numb] %all comply ) ! requirem5ts ( section #fcc4 7,d7 ,onl9e consum] reports2 exemption ,^u receipt ( a reque/ by a consum] = a consum] report1 ea* nationwide specialty consum] report+ ag5cy %all provide access to su* report electronically on ! ,int]net website describ$ 9 section #faa7;h74 7i7 ,automatic provision ( free consum] reports & cr$it scores or educational cr$it scores ,a consum] report+ ag5cy %all provide to a consum] a free copy ( ! file & cr$it score or educational cr$it score ( ! consum] :o-- 7#a7 obta9s a fraud al]t1 ext5d$ al]t1 active duty al]t1 or security freeze z describ$ 9 section #fje;,a2 or 7#b7 has disput$ in=mation1 or submitt$ an appeal ( an inve/igation or re9ve/igation ( su* in=mation1 "u section #faa or #fbc4 4 7b7 ,te*nical am5dm5t ,section #fae7;h77#g7 ( su* ,act 7#ae ,u4,s4,c4 #afham7h77#g77 is am5d$ by /rik+ section & ins]t+ subsection4 #g4 ,requires private educational l5d]s to provide consum]s ) free copies ( any consum] reports & cr$it scores t !y us$ = und]writ+ be=e consum]s sign loan agreem5ts ,section #fji ( ! ,fair ,cr$it ,report+ ,act 7#ae ,u4,s4,c4 #afha;g7 is am5d$ by add+ at ! end ! foll[+ new subsection3 7h7 ,disclosure ( consum] reports & cr$it scores by private educational l5d]s 7#a7 ,9 g5]al ,if a private educational l5d] obta9s a copy ( any consum] reports or cr$it scores & uses su* reports or scores 9 connection ) an application ( a consum] = a private education loan1 ! private educational l5d] %all provide to ! consum]1 n lat] ?an #c bus9ess days aft] obta9+ su* reports or scores & be=e ! date on :i* ! consum] ent]s into a loan agreem5t ) ! private educational l5d]1 a copy ( any su* reports or scores1 along ) ! /atem5t describ$ "u subsection 7f77#b74 7#b7 ,co/s ,none ( ! co/s to ! private educational l5d] associat$ ) procur+ consum] reports or cr$it scores "u ?is subsection may be *>g$1 directly or indirectly1 to ! consum]4 7#c7 ,rule ( con/ruction ,no?+ 9 ?is subsection %all be con/ru$ to elim9ate any requirem5t = cr$itors & l5d]s to provide cr$it score disclosures1 includ+ ! /atem5t describ$ "u subsection 7f77#b71 to consum]s z "p ( an adv]se action or risk-bas$ pric+ notice4 4 #h4 ,requires motor vehicle l5d]s or indirect auto l5d]s to provide consum]s ) free copies ( any consum] reports & cr$it scores t !y us$ = und]writ+ be=e consum]s sign lease or loan agreem5ts ,section #fji ( ! ,fair ,cr$it ,report+ ,act 7#ae ,u4,s4,c4 #afha;g71 z am5d$ by section #f1 is fur!r am5d$ by add+ at ! end ! foll[+ new subsection3 7i7 ,disclosure ( consum] reports & cr$it scores us$ by motor vehicle l5d]s or indirect auto l5d]s 7#a7 ,9 g5]al ,if a motor vehicle l5d] or indirect auto l5d] obta9s a copy ( any consum] reports or cr$it scores & uses su* reports or scores 9 connection ) an application ( a consum] = a motor vehicle loan or lease1 ! motor vehicle l5d] or indirect auto l5d] %all provide to ! consum] a docum5t1 sep>ate f ! consum]'s lease or pur*ase agreem5t & be=e ! consum] ent]s into a lease or pur*ase agreem5t1 disclos+ any consum] reports & cr$it scores1 includ+ ! /atem5t describ$ 9 subsection 7f77#b71 us$ by ! l5d] to det]m9e :e!r to ext5d cr$it to ! consum]4 7#b7 ,co/s ,none ( ! co/s to ! motor vehicle l5d] or indirect auto l5d] associat$ ) procur+ consum] reports or cr$it scores "u ?is subsection may be *>g$1 directly or indirectly1 to ! consum]4 7#c7 ,rule ( con/ruction ,no?+ 9 ?is subsection %all be con/ru$ to elim9ate any requirem5t = cr$itors & l5d]s to provide cr$it score disclosures1 includ+ ! /atem5t describ$ "u subsection 7f77#b71 to consum]s z "p ( an adv]se action or risk-bas$ pric+ notice4 7#d7 ,def9itions 7,a7 ,indirect auto l5d] ,! t]m indirect auto l5d] has ! mean+ giv5 ! t]m by ! ,bureau1 & %all include a p]son ext5d+ a loan made ) respect to a c>1 boat1 motorcycle1 recreational vehicle1 or o!r simil> vehicle us$ prim>ily = p]sonal or h\sehold purposes4 7,b7 ,motor vehicle l5d] ,! t]m motor vehicle l5d] has ! mean+ giv5 ! t]m by ! ,bo>d ( ,gov]nors ( ! ,f$]al ,res]ve ,sy/em1 & %all include a p]son ext5d+ a loan made ) respect to a c>1 boat1 motorcycle1 recreational vehicle1 or o!r simil> vehicle us$ prim>ily = p]sonal or h\sehold purposes4 4 #i4 ,requires resid5tial mortgage l5d]s to provide consum]s ) free copies ( any consum] reports & cr$it scores t !y us$ = und]writ+ be=e consum]s sign loan agreem5ts ,section #fji7;g7 ( ! ,fair ,cr$it ,report+ ,act 7#ae ,u4,s4,c4 #afha;g7g77 is am5d$-- 7#a7 by r$esignat+ p>agraph 7#b7 z p>agraph 7#e72 7#b7 9 p>agraph 7#a7-- 7,a7 by /rik+ a consum] cr$it score & ins]t+ any consum] reports or cr$it scores2 7,b7 by /rik+ 1 z def9$ 9 subsection 7f712 7,c7 by /rik+ ! foll[+ to ! consum] z soon z reasonably practicable3 & ins]t+ 1 n lat] ?an #c bus9ess days aft] us+ su* reports or scores1 a docum5t disclos+ any consum] reports & cr$it scores us$ by ! l5d] to det]m9e :e!r to ext5d cr$it to ! consum] along ) ! /atem5t describ$ 9 subsection 7f77#b742 7,d7 by /rik+ subp>agraphs 7,a71 7,b71 7,c71 7,e71 & 7,f72 7,e7 by r$esignat+ subp>agraph 7,d7 z p>agraph 7#c7 7& adju/+ ! m>g9s accord+ly72 & 7,f7 by r$esignat+ subp>agraph 7,g7 z p>agraph 7#d7 7& adju/+ ! m>g9s accord+ly72 7#c7 by ins]t+ be=e p>agraph 7#c7 7z s r$esignat$7 ! foll[+ new p>agraph3 7#b7 ,rule ( con/ruction ,no?+ 9 ?is subsection %all be con/ru$ to elim9ate any requirem5t = l5d]s to provide cr$it score disclosures1 includ+ ! /atem5t describ$ "u subsection 7f77#b71 to consum]s z "p ( an adv]se action or risk-bas$ pric+ notice4 2 7#d7 9 p>agraph 7#c7 7z s r$esignat$71 9 ! quot$ mat]ial-- 7,a7 by ins]t+ 1 free ( *>ge1 aft] disclose to y2 & 7,b7 by /rik+ affect+ y\r cr$it scores & ins]t+ affect+ y\r cr$it score or scores2 7#e7 9 p>agraph 7#e7 7z s r$esignat$7 by ins]t+ or scores aft] cr$it score ea* place su* t]m appe>s2 & 7#f7 by add+ at ! end ! foll[+ new p>agraphs3 7#f7 ,actions n requir$ ,?is subsection %all n require any p]son to disclose any cr$it score or relat$ in=mation obta9$ by ! p]son aft] a loan has clos$4 7#g7 ,no procurem5t co/s ,none ( ! co/s to ! cr$itor or l5d] associat$ ) procur+ any consum] reports or scores "u ?is subsection may be *>g$1 directly or indirectly1 to ! consum]4 4 #aj4 ,rulemak+ ,n lat] ?an ! end ( ! #b-ye> p]iod beg9n+ on ! date ( ! enactm5t ( ?is ,act1 ! ,bureau ( ,consum] ,f9ancial ,protection %all issue f9al rules to implem5t ! am5dm5ts made by ?is ,act4 ,novemb] #ba1 #bjai ,report$ ) an am5dm5t1 committ$ to ! ,committee ( ! ,:ole ,h\se on ! ,/ate ( ! ,union1 & ord]$ to be pr9t$