Credit Repair Organizations Act (H.R. 458): Hearing Before the Subcommittee on Consumer Affairs and Coinage of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, One-hundredth Congress, Second Session, on H.R. 458, a Bill to Prevent Consumer Abuse by Credit Repair Organizations, September 15, 1988, Volume 4
United States. Congress. House. Committee on Banking, Finance, and Urban Affairs. Subcommittee on Consumer Affairs and Coinage
U.S. Government Printing Office, 1988 - Consumer credit - 182 pages
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accurate action adverse advertising agency appear ARNOLD assist Association Attorney bad credit bank believe bill bond California Chairman ANNUNZIO charge claims clean clients clinics complete Congress consumer credit consumer's contract correct cost counseling court credit bureau credit cards credit history credit rating credit repair companies credit repair organizations Credit Reporting Act Credit-Rite creditors customers deal debt disclosure enforcement Fair Credit Reporting false Federal Trade Commission franchises give Gray guarantee HALFORD hear improve individual industry issue legislation letter misleading months obtain offer operations paid payment person practices PRINS problem promise proposed Protection questions reason received record remove responsible result ROBERTS says signed statement Subcommittee suit surety Thank thing tion violation
Page 176 - ... right to dispute inaccurate information in your credit report by contacting the credit bureau directly. However, neither you nor any "credit repair" company or credit repair organization has the right to have accurate, current, and verifiable information removed from your credit report. The credit bureau must remove accurate, negative information from your report only if it is over 7 years old. Bankruptcy information can be reported for 10 years. "You have a right to obtain a copy of your credit...
Page 167 - Civil liability (a) Except as otherwise provided in this section, any creditor who fails in connection with any consumer credit transaction to disclose to any person any information required under this chapter to be disclosed to that person is liable to that person in an amount equal to the sum of (1) twice the amount of the finance charge in connection with the transaction, except that the liability under this paragraph shall not be less than $100 nor greater than $1,000 ; and...
Page 8 - ... the Chief of the Weather Bureau, regrets he is unable to be here. He is in Europe as head of a scientific delegation to the Soviet Union. I have been asked by Dr. White to represent the Weather Bureau. My name is NA Lieurance, I am the Director of Aviation Weather Affairs of the US Weather Bureau. I have a short statement, Mr. Chairman, that I would like to read for the record. Mr. WILLIAMS. All right, sir, proceed. Mr. LIEURANCE. The Weather Bureau has cooperated with the Federal Aviation Agency...
Page 51 - If the completeness or accuracy of any item of information contained in his file is disputed by a consumer, and such dispute is directly conveyed to the consumer reporting agency by the consumer, the consumer reporting agency shall within a reasonable period of time reinvestigate and record the current status of that information unless it has reasonable grounds to believe that the dispute by the consumer is frivolous or irrelevant. If after such reinvestigation such information is found to be inaccurate...
Page 143 - Columbia is pleased to participate in this hearing on the important issue of coordination of criminal justice activities in the District of Columbia. The US attorney's office for the District of Columbia...
Page 172 - Section 611 is designed to provide consumers with a self-help mechanism to correct credit reports that contain inaccurate or incomplete information. Correcting and updating such information benefits creditors as well as consumers by helping to ensure that credit-granting decisions are made on the basis of complete and accurate information reflecting the probable creditworthiness of the consumer.
Page 63 - National Foundation for Consumer Credit, 8701 Georgia Ave., Silver Spring, Md. 20910; 589-5600.
Page 26 - Thank you. [The prepared statement of Ms. Noonan can be found in the appendix.] Chairman ANNUNZlO.
Page 42 - I thank you, very much. [Whereupon, at 12:12 pm, the hearing was adjourned.] APPENDIX September 15, 1988 ierft Suraus. BefoeĞ 15, 199