Clarity in Consumer Disclosures Act of 2021
This bill requires the Consumer Financial Protection Bureau to issue model forms and model language for use by consumer reporting agencies in satisfying consumer disclosure, authorization, certification, notice, and consent requirements. The model forms and model language must use plain language that is comprehensible to an average reader.
[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6067 Introduced in House (IH)]
<DOC>
117th CONGRESS
1st Session
H. R. 6067
To direct the Bureau of Consumer Financial Protection to issue model
forms and model language for certain Fair Credit Reporting Act
requirements, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
November 23, 2021
Ms. Dean (for herself and Mr. Hollingsworth) introduced the following
bill; which was referred to the Committee on Financial Services
_______________________________________________________________________
A BILL
To direct the Bureau of Consumer Financial Protection to issue model
forms and model language for certain Fair Credit Reporting Act
requirements, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Clarity in Consumer Disclosures Act
of 2021''.
SEC. 2. MODEL FORMS AND MODEL LANGUAGE FOR CERTAIN FAIR CREDIT
REPORTING ACT REQUIREMENTS.
(a) Model Forms and Model Language.--
(1) In general.--The Fair Credit Reporting Act (15 U.S.C.
1601 et seq.) is amended by adding after section 604 the
following new section:
``Sec. 604A. Model forms and model language
``(a) In General.--Not later than one year after the date of the
enactment of this section, the Director of the Bureau shall develop and
issue--
``(1) model language for a certification that may be used
by a person to comply with section 604(b)(1)(A);
``(2) model forms of disclosure, authorization, notice, and
consent that may be used by a consumer or other person to
comply with section 604(b)(2);
``(3) a model consent form and model language for inclusion
in any forms that may be used by a consumer to provide the
consent required under section 604(g)(1)(B)(ii);
``(4) a model form and model language for inclusion in any
forms that may be used to provide a consumer with the
disclosure and statement required under section 606(a)(1);
``(5) model language for a certification that may be used
by a person to comply with section 606(a)(2); and
``(6) model language of certification that may be used by a
person seeking to procure a consumer report under section
604(f)(2) or 607(a).
``(b) Format.--The Director--
``(1) shall ensure that the model forms and model language
described in subsection (a) are in plain language
comprehensible to an average reader and do not include
citations to law;
``(2) to the extent practicable, shall develop a single,
integrated model form for use to comply with the requirements
of section 604, 606, or 607;
``(3) shall ensure that such model forms and model language
are comprehensible and can be easily adapted based on specific
consumer reports; and
``(4) with respect to model language for a certification
described in paragraph (1) or (6) of subsection (a), shall
allow the user of a consumer report to include such model
language in other documents to prospectively certify to a
consumer reporting agency user compliance with the requirements
of section 604(b)(1)(A) or 606(a)(2), as applicable.
``(c) Rulemaking.--In developing the model forms under subsection
(a), the Director shall publish a notice in the Federal Register
seeking written comments from the public.
``(d) Safe Harbor.--Any person or consumer reporting agency that
elects to provide a model form developed under subsection (a) that
accurately reflects the practices of such person or such agency shall
be deemed to be in compliance with the requirements to which the model
form corresponds.
``(e) Specific Components.--In developing the model forms under
subsection (a), the Director--
``(1) shall review State laws regulating consumer reports;
``(2) shall develop such model forms to satisfy any
requirements imposed by State law that are substantially
similar to those described in subsection (a);
``(3) with respect any disclosures that applicable law
requires to consist solely of the disclosure, may deem that
such model form satisfies such disclosure; and
``(4) with respect to a model form that includes a
disclosure described in paragraph (3), may require that such
model form consist solely of the disclosure along with any
other information the Director determines necessary to properly
complete the form.''.
(2) Clerical amendment.--The table of sections for Fair
Credit Reporting Act is amended by adding after the item
relating to section 604 the following new item:
``604A. Model forms and model language.''.
(b) Report to Congress.--Not later than 6 months after the issuance
of model forms and model language under section 604A of the Fair Credit
Reporting Act (as added by subsection (a) of this section), the
Director of the Bureau of Consumer Financial Protection shall submit to
Congress a report that includes--
(1) the methodology used by the Director to create such
model forms and model language; and
(2) an analysis of the use of such model forms and model
language.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
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