Section 1 Short title
This Act may be cited as the “Free Credit Score Act of 2019”.
Free Credit Score Act of 2019
A BILL
To amend the Fair Credit Reporting Act to require certain consumer reporting agencies to include a credit score when providing consumers with a free annual consumer report.
Sec. 2 Inclusion of credit score with free annual report
The Fair Credit Reporting Act (15 U.S.C. 1681 et seq.) is amended—
in section 609(a)(1)(B), by inserting before the period the following: “, except as required under section 612(a)(1)(D)”; and
in section 612(a)(1), by adding at the end the following:
“(D) Inclusion of credit score
“(i) In general—A consumer reporting agency that provides a consumer report to a consumer pursuant to subparagraph (A) shall also provide such consumer with—
“(I) an explanation of how credit scores are calculated, including factors considered in credit scoring calculations; and
“(II) a credit score (as defined under section 609(f)).
“(ii) Rulemaking—The Bureau shall issue rules—
“(I) to provide minimum criteria for explanations described under clause (i)(I); and
“(II) to require a credit score provided by a consumer reporting agency pursuant to clause (i) to be similar to the types of credit scores most commonly used by creditors.”