Latest action: Placed on the Union Calendar, Calendar No. 689.
Committee has approved the bill (usually with amendments) and sent it back to the full chamber.
The committee voted to send the bill to the floor of the full chamber. The Speaker of the House schedules a floor vote.
Next: Passed One Chamber
The other chamber (Senate or House) repeats the committee + floor-vote process
Requires companies selling consumer report data to verify accuracy before sharing it.
The problem
Consumer report resellers may pass along incorrect or outdated information without checking if it's accurate, harming people's credit and financial opportunities.
The proposal
Bill mandates that data resellers use reasonable procedures to verify information accuracy before selling consumer reports to other companies.
The impact
Consumers get more accurate credit information; data companies face new compliance costs; credit reporting industry must implement verification systems.
People would be less likely to face financial problems from wrong information in their credit reports. Errors could be caught before spreading to banks and lenders. This helps people get fair treatment when applying for loans.
Verifying information before resale makes it harder for stolen data or fake information to spread. This protects consumers from scams and identity thieves. It limits the reach of bad information in the system.
Requiring accuracy standards could increase trust in the credit reporting system. Consumers may feel more confident their information is correct. This supports a healthier financial marketplace overall.
Companies would invest in better systems to check accuracy. This raises standards across the industry. It creates incentives for responsible data handling.
Data resellers would need to spend money on new verification systems and processes. Smaller companies might struggle with these costs. These expenses could be passed to consumers through higher fees.
Requiring verification before sharing data takes time. Lenders might get information more slowly when making decisions. This could slow loan approvals and business transactions.
The bill says 'reasonable procedures' but doesn't define exactly what that means. Companies might disagree on what counts as enough verification. This could lead to confusion and legal disputes.
Companies handling massive amounts of data might find it hard to verify everything accurately. Rules might be difficult or impossible to follow perfectly. Enforcement could be complicated.
Generated by AI from the bill text. Not a prediction and not legal or policy advice. The percentage is the model's own rating of each item — self-reported, and not a measure of how accurate it is.
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Individual contributions, grouped by employer · FEC
Where their individual donors work · 2026 cycle
Money from people who work there, not from the company. Not tied to this bill.
Itemized individual contributions via FEC, grouped by the employer each contributor self-reported. Companies and unions cannot contribute to federal candidates from their treasuries, so these totals are money from people who work at an employer — never from the organization itself. They are campaign contributions covering a full election cycle and are not connected to this bill.
Senate LDA lobbying disclosures
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