Political Quotes

“Mr. President, I ask unanimous consent that reading of the amendment be dispensed with. The ACTING PRESIDENT pro tempore. Without objection, it is so ordered. The amendment is as follows: (Purpose: To improve consumer notification of numerical credit scores used in certain lending transactions) On page 1455, after line 25, insert the following: SEC. 1077. USE OF CONSUMER REPORTS. Section 615 of the Fair Credit Reporting Act (15 U.S.C. 1681m) is amended-- (1) in subsection (a)-- (A) by redesignating paragraphs (2) and (3) as paragraphs (3) and (4), respectively; (B) by inserting after paragraph (1) the following: ``(2) provide to the consumer written or electronic disclosure-- ``(A) of a numerical credit score as defined in section 609(f)(2)(A) used by such person in taking any adverse action based in whole or in part on any information in a consumer report; and ``(B) of the information set forth in subparagraphs (B) through (E) of section 609(f)(1);''; and (C) in paragraph (4) (as so redesignated), by striking ``paragraph (2)'' and inserting ``paragraph (3)''; and (2) in subsection (h)(5)-- (A) in subparagraph (C), by striking ``; and'' and inserting a semicolon; (B) in subparagraph (D), by striking the period and inserting ``; and''; and (C) by inserting at the end the following: ``(E) include a statement informing the consumer of-- ``(i) a numerical credit score as defined in section 609(f)(2)(A), used by such person in connection with the credit decision described in parag…”