01 — The Text
What.
- Requires credit data resellers to use reasonable procedures to verify accuracy of credit information they compile from other agencies.
- Shields resellers from liability under Fair Credit Reporting Act if they accurately pass along information from original sources.
- Targets middleman agencies that don't maintain their own credit databases but repackage data from others for sale.
02 — The Stakes
So what?
- Consumers benefit: reduces risk of inaccurate credit info damaging loans, jobs, or insurance due to sloppy reseller practices.
- Credit resellers face new compliance costs but gain legal protection if they follow the accuracy rules.
- Original credit agencies remain responsible for their own data; this focuses accountability on resellers' verification practices.
03 — The Path
Now what?
- Bill passed House Financial Services Committee in June 2026; next stops are full House floor vote, then Senate.
- Committee amendment language unclear from public summary; details matter for how strictly resellers must verify information.
- Track progress at Congress.gov or contact your House representative if credit accuracy concerns affect you.
Legislative History
Actions.
- Jun 30, 2026 — Ordered to be Reported (Amended) by Voice Vote.
- Jun 30, 2026 — Committee Consideration and Mark-up Session Held
- Mar 27, 2026 — Referred to the House Committee on Financial Services.
- Mar 27, 2026 — Introduced in House
- Mar 27, 2026 — Introduced in House