House Passes Credit Reporting Bill But it is Unlikely to Go Further

On Wednesday the House passed a package of bills called the Comprehensive CREDIT Act which would change the credit reporting system; under one bill the credit reporting agencies would have to clear negative information from credit reports after only four years; information related to lapse in payments to student loans would have to be cleared if nine consecutive payments are made; another bill would have the CFPB issue new credit reporting regulations which govern scoring models and would prohibit employers from running credit checks on potential employees; it is likely that the bills will not pass in the senate as noted by Rep. Patrick McHenry who also stated, “This bill will weaken underwriting standards.” American Banker

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.