Credit Reporting Act Introduced to Ensure Accurate Reporting

Senator Sherrod Brown of Ohio, has introduced the Stop Errors in Credit Use and Reporting (SECURE) Act to ensure that all have accurate information on their credit report to ensure they are being treated fairly.

According to the article published by Senator Brown, "[t]he SECURE Act would require credit reporting agencies to improve their processes for collecting and matching consumer credit information and hold them accountable by requiring agencies to inform the Consumer Financial Protection Bureau (CFPB) about the consumer complaints they’ve received and their resolutions. If agencies’ sloppy reporting practices cause widespread errors, the FTC would have new power to impose penalties."

To follow the progress of the Act click HERE.