Crist Votes to Make Credit Scores Free and Available to All Americans

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Washington, DC, June 29, 2020 | comments

Washington, DC – U.S. Representative Charlie Crist (D-St. Petersburg) released the following statement in support of H.R. 5332, the Protecting Your Credit Score Act of 2020, legislation to reform the credit reporting system, making credit scores free and readily available to all Americans.

The bill, which would enhance consumer’s rights, create more transparency over the consumer reporting and credit score process, and increase the accountability of credit reporting agencies, furnishers, and companies that develop credit scoring models – addresses flaws in the current system that too often lead to errors in credit reporting. The current credit reporting system disproportionately harms people of color and low-income communities, hurting millions of Americans’ ability to buy a car, rent an apartment, own a home, and qualify for affordable credit.

“Every American should have access to their credit score, for free, whenever they need it. It’s your information, your data, not the credit rating agencies,” said Rep. Crist. “This legislation brings credit reporting into the 21st century, increasing transparency, reducing the potential for inaccurate credit reports and scores, and safeguarding information for every Floridian.”

The Protecting Your Credit Score Act of 2020:

  • Establishes an Online Consumer Portal to provide free and unlimited access to credit reports and scores, ability to initiate and resolve disputes between consumers and credit bureau, and place or remove security freezes on credit to prevent fraud;
  • Increases Credit Report Accuracy and Transparency by requiring matching of social security number or full legal name, date of birth, current address, and previous address to consumers in order to increase reporting accuracy;
  • Increases Consumer Bureau’s Authority for Supervision and Rulemaking over Consumer Reporting Agencies.
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