Fair Credit for American Hostages Act

Finance and Financial Sector

house

senate

president

Introduced on September 25, 2024 by French Hill

Legislation Details

Amends the Fair Credit Reporting Act to protect consumers unlawfully or wrongfully detained or held hostage abroad.
Prohibits consumer reporting agencies from including adverse information in consumer reports for individuals identified as “covered consumers.”
Defines “covered consumer” as a U.S. national unlawfully or wrongfully detained or taken hostage abroad.
Requires documentation to certify an individual’s status as a covered consumer, including the time period of detention or hostage situation.
Documentation must be authenticated by designated authorities, such as the Special Presidential Envoy for Hostage Affairs or the Hostage Recovery Fusion Cell.
Ensures that if a consumer reporting agency can authenticate the provided documentation, they cannot furnish adverse information related to the covered consumer for the duration of their unlawful detention or hostage situation.
Includes a technical amendment to the table of contents of the Fair Credit Reporting Act to reflect the new section.

Last updated 12/17/2024

Amends the Fair Credit Reporting Act to protect consumers unlawfully or wrongfully detained or held hostage abroad.
Prohibits consumer reporting agencies from including adverse information in consumer reports for individuals identified as “covered consumers.”
Defines “covered consumer” as a U.S. national unlawfully or wrongfully detained or taken hostage abroad.
Requires documentation to certify an individual’s status as a covered consumer, including the time period of detention or hostage situation.
Documentation must be authenticated by designated authorities, such as the Special Presidential Envoy for Hostage Affairs or the Hostage Recovery Fusion Cell.
Ensures that if a consumer reporting agency can authenticate the provided documentation, they cannot furnish adverse information related to the covered consumer for the duration of their unlawful detention or hostage situation.
Includes a technical amendment to the table of contents of the Fair Credit Reporting Act to reflect the new section.