David Pryor: “I rise in support of S. 783 and would like to commend the managers of this bill for bringing it to the floor. I would…”

“I rise in support of S. 783 and would like to commend the managers of this bill for bringing it to the floor. I would also like to take a moment to engage the senior Senator from Michigan, the chairman of the committee, in a brief colloquy. As the chairman knows, section 103 of S. 783 clarifies and expands upon current Federal Trade Commission [FTC] interpretations of the Fair Credit Reporting Act regarding permissible prescreening activities. One of those activities involves demographic or other analysis performed by third party data processors on behalf of credit grantors on information contained in consumer reporting agency files. It is my understanding that the prescreening activities performed by these data processing entities have been sanctioned by the FTC. It is further my understanding that section 103 of S. 783 is not intended to change the status of the prescreening services provided by these entities, and in fact, the committee's report helps clarify the status of third party data processors under the act by incorporating the interpretive language adopted by the FTC, is this correct?”