Discussion · House of Representatives
Rashida Tlaib Democrat
“I am introducing a bill to fix credit reports. Many credit reports have mistakes that stop people from getting jobs, housing, and loans. My bill takes medical debt off credit reports and lets victims of scams and abuse clear bad marks. It also removes bad marks after four years instead of seven, and it gives older adults free credit monitoring.”
“Mr. Speaker, I am introducing the FAIR Credit Act to restore the credit reports of victims of predatory lending, fraud, and financial abuse. Mr. Speaker, I want you to know that this is not a Republican or Democratic or Independent issue. This is an American issue. The FAIR Credit Act would address inaccuracies in credit reports found by over a third of consumers. These are our residents. Imagine a third of our residents right now are hurt by credit reports that aren’t even accurate. This is an economic justice bill. Credit records are riddled with errors that prevent people from obtaining jobs, housing, cars, and loans, loans to help them thrive. Our neighbors are constantly targeted by predatory lenders and scams, especially our senior citizens. For my seniors, my bill would establish the right to free credit monitoring and identity theft protection services. They shouldn’t have poor credit because they fell victim to scams. Medical debt should also be prohibited from being on a credit report. It is not their fault they got sick. It shouldn’t bring them down and be able to put them in survivor mode because they got sick and couldn’t afford the health costs. Oftentimes, we know that patients need lifesaving medical procedures and aren’t even aware of the cost in advance. Adverse credit reports should not drag people down when they are already drowning in medical debt. People who have survived domestic and financial abuse also shouldn’t have negative information on their credit reports that they are not even responsible for. Instead, our bill offers a pathway for them to remove negative information so they can start a healthy financial life. The FAIR Credit Act removes negative information after 4 years, down from 7 years, because we know economists and others have said 7 years is not even a good indicator. Our neighbors across the country should not be denied economic opportunities that we know will get them out of survivor mode and help them be able to thrive. A lot of this is because we have a flawed credit report process in our country. Our residents deserve the FAIR Credit Act. Our residents deserve these changes. This one should be an easy one for many of my colleagues here in this Chamber.”
Mr. Speaker, I am introducing the FAIR Credit Act to restore the credit reports of victims of predatory lending, fraud, and financial abuse. Mr. Speaker, I want you to know that this is not a Republican or Democratic or Independent issue. This is an American issue. The FAIR Credit Act would address inaccuracies in credit reports found by over a third of consumers. These are our residents. Imagine a third of our residents right now are hurt by credit reports that aren’t even accurate. This is an economic justice bill. Credit records are riddled with errors that prevent people from obtaining jobs, housing, cars, and loans, loans to help them thrive. Our neighbors are constantly targeted by predatory lenders and scams, especially our senior citizens. For my seniors, my bill would establish the right to free credit monitoring and identity theft protection services. They shouldn’t have poor credit because they fell victim to scams. Medical debt should also be prohibited from being on a credit report. It is not their fault they got sick. It shouldn’t bring them down and be able to put them in survivor mode because they got sick and couldn’t afford the health costs. Oftentimes, we know that patients need lifesaving medical procedures and aren’t even aware of the cost in advance. Adverse credit reports should not drag people down when they are already drowning in medical debt. People who have survived domestic and financial abuse also shouldn’t have negative information on their credit reports that they are not even responsible for. Instead, our bill offers a pathway for them to remove negative information so they can start a healthy financial life. The FAIR Credit Act removes negative information after 4 years, down from 7 years, because we know economists and others have said 7 years is not even a good indicator. Our neighbors across the country should not be denied economic opportunities that we know will get them out of survivor mode and help them be able to thrive. A lot of this is because we have a flawed credit report process in our country. Our residents deserve the FAIR Credit Act. Our residents deserve these changes. This one should be an easy one for many of my colleagues here in this Chamber.