Fair Commercial Reporting Practices Act of 1980
Latest action. Referred to Senate Committee on Banking, Housing and Urban Affairs.
Fair Commercial Reporting Practices Act of 1980 - Sets forth rights and procedures applicable to businesses which are the subject of commercial credit reports. Excludes from the coverage of this Act any consumer reporting agency, consumer report, or user of information which is governed by the Fair Credit Reporting Act. Delimits the circumstances in which a commercial reporting agency may furnish a commercial report. Requires a user of a commercial report to notify a person in writing whenever credit, insurance, or other benefits have been denied (or charges increased) based on a commercial report. Requires such notification to include: (1) the identity of the commercial reporting agency; and (2) such person's right to request a copy of the report and to correct an erroneous report. Requires a commercial reporting agency, upon request of any person, to: (1) disclose all information in its files on such person; (2) permit all such information to be copied; (3) disclose to such person the sources of all information; and (4) disclose the names of all recipients of any commercial report which the agency has furnished within a six-month period. Directs a commercial reporting agency to reinvestigate the status of information which is disputed by any person (unless it has reasonable grounds to believe such dispute is frivolous or irrelevant), and to delete promptly inaccurate or unverifiable information. Entitles a business to file a brief statement of disagreement if such reinvestigation does not resolve the dispute. Requires a commercial reporting agency to maintain reasonable procedures to assure the maximum possible accuracy of its information. Prohibits any such agency from: (1) furnishing adverse information which antedates the commercial report by more than ten years (except with respect to credit transactions or life insurance underwriting involving $500,000 or more); (2) obtaining information by implying that failure to do so will result in adverse consequences; (3) furnishing negative information or recommending that credit not be extended because of a business' failure to cooperate with the reporting agency; (4) furnishing a report which indicates that a business has been denied credit, if the sole reason for such denial is lack of sufficient information, unless the report so states; and (5) lowering the credit rating of a business unless that business is notified of such action in writing within 30 days of such action. Makes a commercial reporting agency or user of information which willfully or negligently fails to comply with the requirements of this Act civilly liable to the person affected in any appropriate Federal district court without regard to the amount in controversy, or in any court of competent jurisdiction. Establishes criminal penalties for any person who willfully and knowingly obtains information on a person from a commercial reporting agency under false pretenses.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in Senate" stage on February 28, 1980. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on February 28, 1980: Referred to Senate Committee on Banking, Housing and Urban Affairs.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the Senate
- Passage by the House
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 96th Congress (1979-80), 613 of the 12,581 bills and joint resolutions introduced became law, about 4.9 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
LOWELL WEICKER (R-CT) introduced it on February 28, 1980, and 1 member has since signed on as a cosponsor.
They are 1 Republican.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on February 28, 1980, 16996 days ago. The most recent recorded action was 16996 days ago, on February 28, 1980.
Measures do not carry over. Anything the 96th Congress has not finished by January 3, 1981 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- SenateIn committee, no floor vote yet
- HouseAwaits Senate passage
- PresidentAwaits both chambers