Senate Bill Would Add Utility Payments To Credit Reports

Law360, New York (November 5, 2013, 5:45 PM EST) -- A bipartisan pair of senators has proposed an update to the Fair Credit Reporting Act that would push utility and telecommunication service providers to report customers' positive payment history to credit reporting agencies in an effort to build more robust and accurate credit profiles.

Under the current version of the FCRA, it is unclear whether telecommunications and utility companies can and should include a “full-file” of consumer data that states positive payment history information in addition to negative history in the reports that they provide to...
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