Protects consumers by cracking down on scam credit repair companies.
This bill would make it harder for credit repair companies to scam consumers by banning upfront payments and requiring them to be licensed by their state. It would also give consumers more ways to report fraud and make it easier to sue companies that break the rules. These changes aim to bring more transparency and accountability to the credit repair industry.
Today, some credit repair companies can charge consumers upfront fees without guaranteeing results, and there are fewer specific rules for how they operate. If this bill becomes law, credit repair companies would be banned from charging fees until they can prove they've improved a consumer's credit. They would also need to get a state license and follow stricter rules for how they handle disputes and communicate with consumers.
HR 306 · 119th Congress · AI Summary by gemini-2.5-flash · 8/10
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36 filings mentioned this bill
Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.