AI-assisted analysis based on the official CRS summary. Source version: Aug 27, 2026. Analysis updated: Sep 20, 2026.
01 — The Text
What.
- Applies to consumer credit data resellers—agencies that assemble credit information from other agencies without maintaining their own database
- Requires resellers to follow reasonable procedures to ensure maximum possible accuracy of credit information they provide
- Shields resellers from liability under the Fair Credit Reporting Act when they accurately communicate information obtained from other consumer reporting agencies
02 — The Stakes
So what?
- Resellers gain liability protection if they accurately relay information from source agencies, even if that source information is inaccurate
- The bill places accuracy responsibility on resellers' assembly and merging procedures rather than on source data verification
- Consumers may have limited recourse against resellers for inaccurate information if the reseller faithfully transmitted data from another agency
03 — The Path
Now what?
- Bill was introduced in the House on March 27, 2026
- Referred to House Committee on Financial Services on March 27, 2026
- Committee held consideration and mark-up session on June 30, 2026, and ordered it reported amended by voice vote
- Committee reported the amended bill on September 1, 2026, and it was placed on the Union Calendar
Legislative History
Actions.
- Sep 1, 2026 — Placed on the Union Calendar, Calendar No. 689.
- Sep 1, 2026 — Reported (Amended) by the Committee on Financial Services. H. Rept. 119-789.
- 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