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senate Bill S. 1729

Should Consumer Reporting Agencies Include Information About Ongoing Disputes in Affected Consumers’ Credit Reports?

Argument in favor

Current mechanisms for correcting inaccuracies in consumers’ credit reports are inadequate, slow, and difficult for consumers to navigate. They can impact consumers’ ability to receive credit and the terms of credit they receive. Credit reporting agencies should be required to include dispute information in consumers’ reports to ensure consumers affected by this problem aren’t harmed by it while their disputes are being resolved.

jimK's Opinion
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10/09/2019
YES, since so much rides on a persons credit history, any disputed claims should at least be noted. It would highlight to banks, for example, that some charges are disputed and allow folks to at least make an argument for better lending rates. If nothing else, it would help encourage credit reporting services to ensure their reporting is accurate. I have a few discrepancies in my report but have not 'dug-in' to fight them because I use so little credit anymore that it just isn't worth the effort. It sure would have helped in my younger days, however.
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10/09/2019
Absolutely! I am in the middle of a dispute right now, and the time and energy I must spend to correct all three credit reporting agencies and the stupid creditor who allowed another person to take out a credit card in my name and overspend and not pay the balance is utterly ridiculous! If the mistake was mine, I would own it and do all the work gladly. But the fact that a company that makes a mistake has no requirement to correct that error promptly and without the victim’s having to pursue them is wrong. I have cards with Chase Bank, and they are always responsive and correct my issues without problems or delays. Not all creditors are created equal. A law like this is surely needed!! I urge my legislators to support this bill!
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Paul's Opinion
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10/09/2019
This is long overdue. Credit report agencies have become more powerful than the entities that use them, and credit reports and collections agencies are their foot soldiers. We do have the fair credit act that has no power. The Credit reporting agencies have absurd rules and the consumer response is unknown to most.
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Argument opposed

Consumers with errors on their credit reports already have mechanisms for reporting these errors and having them resolved, so there’s already a route for resolving credit report errors. Additionally, only 5% of errors on consumer credit reports affect consumers’ ability to receive credit or the terms of credit that they’re offered — so the magnitude of this problem is quite small.

Nathan's Opinion
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10/09/2019
More government is never the right answer. You have power and resources available to you as a consumer, no need to allow the government to further infiltrate our lives. Credit scores are just one of many side effects of living in a debt based banking/slave system.
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Terry's Opinion
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10/09/2019
No. Regulate regulate regulate. Those liberal socialist hypocrite Democrats want to control you from the crib to the grave and take your hard earned $$$ in between.
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Jasen's Opinion
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10/10/2019
Consumers with errors on their credit reports already have mechanisms for reporting these errors and having them resolved, so there’s already a route for resolving credit report errors. Additionally, only 5% of errors on consumer credit reports affect consumers’ ability to receive credit or the terms of credit that they’re offered — so the magnitude of this problem is quite small.
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bill Progress


  • Not enacted
    The President has not signed this bill
  • The house has not voted
  • The senate has not voted
      senate Committees
      Committee on Banking, Housing, and Urban Affairs
    IntroducedJune 5th, 2019
    Yes, especially since so many people have had their credit/debit cards or other financial information stolen. Allowing the disputes to show would help.
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    Credit reporting leans to the worst scenario and we are left holding that bag.
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    Yes. These people hold too much power with zero accountability. Screw the consumer and screw the citizen, otherwise known as standard Republican policy.
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    5% rate of error is too small? Who are they kidding? What company would except a 5% error in production? What finance company is happy with a 5% error in their spread sheets? What patient wants a doctor with a 5% error rate? Again, who are they kidding?
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    Consumers need to know all information required for credit reporting.
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    This is a good start. Personally I’d rather the whole credit report thing become a federal agency. The current companies are horrible- inaccurate and insecure. We shouldn’t have to be checking our score constantly because the whole thing is a scam.
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    Nobody knows how the bureaus come up with the scores, not even the people who work there, I spent most of a day trying to find out why my score dr
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    No. Regulate regulate regulate. Those liberal socialist hypocrite Democrats want to control you from the crib to the grave and take your hard earned $$$ in between.
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    This bill is common sense. Who elected the credit bureaus anyway? No one. They should undergo even more aggressive restructuring and regulation.
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    The government has no authority to regulate credit reporting companies. Not a power granted in the constitution.
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    There shouldn't be any need to explain why. Try correcting 3 credit reporting companies.
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    YES! When you have derogatory information that is inaccurate, and you try to resolve it but fail due to uncooperative reporters, it is a stain on your credit. Recently, I had just that scenario. I used a store credit card to buy a small gift. It was a spur of the moment decision. Three months later, I got a notice from my credit watch website that I had a missed payment remark on my report. I had forgotten about the purchase and had to call the store card customer "service" to find the information I needed and to report that I had never received the monthly statements. As it turned out, at the store's suggestion several months earlier, I switched to online statement delivery. The problem is that I never received the statements. I routinely check my spam folder, and they were not there, either. I have had the experience of having messages lost in cyberspace and I am positive this happened in this case. I missed seeing three statements. Had I received any of them, I would have paid immediately. I explained my side to the customer "service" representative but was told that my email settings were at fault and they refused to consider the facts. My credits score was lowered by 75 points for a $10 purchase. :/ I would appreciate the ability to at least post a statement on my report that would explain this error. The credit card issuers have too much power and passage of this bill would be a small step to protect consumers.
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    Why would it be hidden from the consumer? Of course, it should be open information to the person who stands to lose so much!
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    It seems like the right thing to do.
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    I trust Amy Klobuchar enough to support this bill.
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    These three credit reporting agencies have card blanche to do as they please which is wrong! They leak our information to a single person on a laptop which is insane. Big companies like this should have to protect our information more. As well as have accurate information. Once the information is proven wrong it should be fixed right away. The mistake should be removed like it was never there...
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    It is necessary for a clear report..
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    Yes, absolutely.
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    The People have the Right to know
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    Yes. As Jim K. said "so much rides on a persons credit history".
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