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New House and Senate Bills Introduced to Amend FCRA in Response to the COVID-19 Crisis

On March 17, 2020, a bill was introduced in the United States Senate to amend the Fair Credit Report Act to prevent negative credit reporting during the COVID-19 crisis. Subsequently, on March 23, 2020, a similar bill was introduced in the United States House of Representatives.  Both bills are entitled “The Disaster Protection for Workers’ Credit Act.”

The Senate and House Bills seek to place a four-month moratorium on all negative credit reporting. Individuals who face continued financial hardship as a result of the COVID-19 crisis may be protected for a longer period beyond the four-months.  The Senate and House Bills also seeks to give consumers free and unlimited access to credit reports and credit scores for a year after the end of the crisis. Additionally, the House Bill will prevent negative information associated with medical debt incurred for treatment of COVID-19 from impacting consumers’ credit reports and credit scores. The House Bill is meant not only for the current COVID-19 crisis, but also for any future major disasters.

The Senate Bill, introduced by Senator Sherrod Brown (D-Ohio) and Senator Brian Schatz (D-Hawaii), is currently before the Senate Banking, Housing, and Urban Affairs Committee. As of the posting of this article, a text of the bill has not yet been made public.

The House Bill, introduced by Congressman Brad Sherman (D-Sherman Oaks), has been referred to the House Committee On Financial Services.  As of the posting of this article, a text of the bill has not yet been made public.

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About this Author

Nicole Su, Womble Dickinson, Business litigation lawyer
Associate

Nicole focuses her business litigation practice on commercial and financial services cases, with a particular emphasis on Telephone Consumer Protection Act (TCPA). She is part of a nationally-recognized team that is at the forefront of the TCPA space.  Along with the team, Nicole brings the experience and capability to vigorously defend financial institutions in TCPA actions nationwide. 

Nicole is dedicated to achieving cutting-edge results for her clients.  She uses her in-depth knowledge of the TCPA to come up with creative solutions for difficult problems.

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