To amend the Fair Credit Reporting Act to protect the credit rating of consumers with satisfactory credit ratings who become unemployed due to recession or to an employer's transfer of the job function performed by a consumer to another country, and for other purposes.
Consumers Credit Protection Amendments of 1992 - Amends the Fair Credit Reporting Act to require, when a consumer with a good credit history loses a job due to any recession or the transfer of a job to a foreign country, reporting of the consumer's rating prior to the job loss and a statement that it is reasonable to assume that the consumer's rating would be good or satisfactory but for the loss of employment due to factors beyond the control of the consumer.
Prohibits reporting of information more than three years old regarding an account placed for collection if the account is subsequently paid.
Introduced in House
Introduced in House
Referred to the House Committee on Banking, Finance + Urban Affrs.
Referred to the Subcommittee on Consumer Affairs and Coinage.
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