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House Passes Pressley Bill to Reform Broken Credit Reporting System

NNPA NEWSWIRE — Unfortunately, our system of consumer credit reporting is badly broken, and consumers have little recourse. It is typical for credit reports to be filled with unacceptable errors that are difficult for consumers to correct. A Federal Trade Commission (FTC) study found that 1 in 5 consumers have verified errors in their credit reports, and 1 in 20 consumers have errors so serious that they would be denied credit or need to pay more for it. This means about 42 million consumers have errors in their credit reports, and 10 million have errors that can be life altering.

Published

5 years ago

January 30, 2020

Oakland Post

Congresswoman Maxine Waters (CA-43), Chairwoman of the House Committee on Financial Services.

WASHINGTON — The U.S. House of Representatives passed H.R. 3621, the Comprehensive Credit Reporting Enhancement, Disclosure, Innovation, and Transparency Act of 2020 (“Comprehensive CREDIT Act”), legislation sponsored by Rep. Ayanna Pressley (D-MA), by a vote of 221 to 189.

H.R. 3621 would overhaul the credit reporting system by empowering consumers with more control of their data and requiring consumer reporting agencies (CRAs) like Equifax, TransUnion, and Experian, to better ensure that the information on consumer credit reports is accurate and complete.

See below for Chairwoman Waters’ floor statement on the bill.

As Prepared for Delivery

Mr. Chairman, I rise today in strong support of H.R. 3621, the Comprehensive Credit Reporting Enhancement, Disclosure, Innovation, and Transparency Act, legislation sponsored by Representative Ayanna Pressley of Massachusetts. This package of bills builds upon reforms that Members of the Financial Services Committee have been developing for several Congresses.

Mr. Chairman, credit reporting is unlike any other business. Consumers are not customers of credit reporting agencies—they are the product. Credit reporting agencies package up consumers’ data to sell to lenders, employers and other businesses.

Unfortunately, our system of consumer credit reporting is badly broken, and consumers have little recourse. It is typical for credit reports to be filled with unacceptable errors that are difficult for consumers to correct. A Federal Trade Commission (FTC) study found that 1 in 5 consumers have verified errors in their credit reports, and 1 in 20 consumers have errors so serious that they would be denied credit or need to pay more for it. This means about 42 million consumers have errors in their credit reports, and 10 million have errors that can be life altering.

Consumers are frustrated with the current system. In 2018, the Consumer Financial Protection Bureau received 126,300 consumer complaints on credit reporting, which was more than one-third of all complaints submitted. The Consumer Bureau received more complaints about credit reporting than any other issue.

This legislative package makes critical reforms to help consumers by addressing problems with the credit reporting system.

The legislation includes H.R. 3642, the Improving Credit Reporting for All Consumers Act, a bill sponsored by Representative Alma Adams, which would address burdens consumers experience when trying to remove errors from their consumer reports, including by providing a new right to appeal the results of initial reviews about the accuracy or completeness of disputed items on the report.

The package also includes H.R. 3622, the Restoring Unfairly Impaired Credit and Protecting Consumers Act, a bill sponsored by Representative Rashida Tlaib. This part of the bill would limit how long adverse credit information stays on consumer reports, and it would protect consumer victims by removing adverse information relating to predatory, discriminatory or otherwise unlawful loans made by a financial institution. It would also prohibit reporting debt relating to medically-necessary procedures and delay reporting by one year for other medical debt.

In addition, the package includes H.R. 3614, the Restricting Use of Credit Checks for Employment Decisions Act, a bill sponsored by Representative Al Lawson. This part of the bill would prohibit employers from using credit reports for employment decisions, except when a credit report is otherwise required to conduct a background check by Federal, state or local law or for a national security clearance.

H.R. 3621, the Student Borrower Credit Improvement Act, a bill sponsored by Representative Pressley, is also included in the legislation. This part of the bill would help student borrowers who may have been delinquent on paying their private student loans to repair their credit after they demonstrate a history of timely loan repayments for these loans, similar to how the credit reports of borrowers with Federal student loans can be rehabilitated.

Another key measure included in this package is H.R. 3629, the Clarity in Credit Score Formation Act sponsored by Representative Stephen Lynch. This legislation would direct the CFPB to provide oversight and set standards for validating the accuracy and predictive value of credit scoring models, and it would promote innovation by requiring a study on how the use of non-traditional data might impact the availability and affordability of credit for consumers with limited or no traditional credit histories.

Finally, the package includes H.R. 3618, the Free Credit Scores for Consumers Act sponsored by Representative Joyce Beatty, which would direct the nationwide CRAs to give consumers free copies of their credit scores that are used by creditors in making credit decisions, as determined by the CFPB, whenever consumers obtain their free annual consumer reports.

I am pleased that this bill also includes a provision that I have worked on with a range of other members that excludes from credit reports any adverse information about a federal employee and others who are affected by a government shutdown.

I urge all Members to support these commonsense reforms to improve the nation’s consumer reporting system and benefit hardworking American consumers.

Chairwoman Waters and Committee Democrats have worked tirelessly on solutions to repair the nation’s broken credit reporting system.

In July 2019, the Committee passed critical legislation to reform credit reporting, credit scores and the credit reporting agencies.

In February 2019, Chairwoman Waters convened a full Committee hearing entitled, “Who’s Keeping Score? Holding Credit Bureaus Accountable and Repairing a Broken System,” with the Chief Executive Officers of Equifax, Experian, and TransUnion.

In October 2017, Committee Democrats, led by then-Ranking Member Waters, convened a minority day hearing on ensuring the integrity of our country’s consumer reporting system and safeguarding consumer data. The CEOs of Equifax, Experian and TransUnion each declined Waters’ invitation to testify.

Congresswoman Maxine Waters (CA-43), Chairwoman of the House Committee on Financial Services.

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Remembering George Floyd

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May 25, 2025

Oakland Post

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OP-ED: Oregon Bill Threatens the Future of Black Owned Newspapers and Community Journalism

BLACKPRESSUSA NEWSWIRE — Nearly half of Oregon’s media outlets are now owned by national conglomerates with no lasting investment in local communities. According to an OPB analysis, Oregon has lost more than 90 news jobs (and counting) in the past five years. These were reporters, editors and photographers covering school boards, investigating corruption and telling community stories, until their jobs were cut by out-of-state corporations.

Published

2 days ago

May 23, 2025

Oakland Post

By Dr. Benjamin F. Chavis, Jr.
President and CEO, National Newspaper Publishers Association

For decades, The Skanner newspaper in Portland, the Portland Observer, and the Portland Medium have served Portland, Oregon’s Black community and others with a vital purpose: to inform, uplift and empower. But legislation now moving through the Oregon Legislature threatens these community news institutions—and others like them.

As President and CEO of the National Newspaper Publishers Association (NNPA), which represents more than 255 Black-owned media outlets across the United States—including historic publications like The Skanner, Portland Observer, and the Portland Medium—l believe that some Oregon lawmakers would do more harm than good for local journalism and community-owned publications they are hoping to protect.

Oregon Senate Bill 686 would require large digital platforms such as Google and Meta to pay for linking to news content. The goal is to bring desperately needed support to local newsrooms. However, the approach, while well-intentioned, puts smaller, community-based publications at a future severe financial risk.

We need to ask – will these payments paid by tech companies benefit the journalists and outlets that need them most? Nearly half of Oregon’s media outlets are now owned by national conglomerates with no lasting investment in local communities. According to an OPB analysis, Oregon has lost more than 90 news jobs (and counting) in the past five years. These were reporters, editors, and photographers covering school boards, investigating corruption, and telling community stories, until their jobs were cut by out-of-state corporations.

Legislation that sends money to these national conglomerate owners—without the right safeguards to protect independent and community-based outlets—rewards the forces that caused this inequitable crisis in the first place. A just and inclusive policy must guarantee that support flows to the front lines of local journalism and not to the boardrooms of large national media corporations.

The Black Press exists to fill in the gaps left by larger newsrooms. Our reporters are trusted messengers. Our outlets serve as forums for civic engagement, accountability and cultural pride. We also increasingly rely on our digital platforms to reach our audiences, especially younger generations—where they are.

We are fervently asking Oregon lawmakers to take a step back and engage in meaningful dialogue with those most affected: community publishers, small and independent outlets and the readers we serve. The Skanner, The Portland Observer, and The Portland Medium do not have national corporate parents or large investors. And they, like many smaller, community-trusted outlets, rely on traffic from search engines and social media to boost advertising revenue, drive subscriptions, and raise awareness.

Let’s work together to build a better future for Black-owned newspapers and community journalism that is fair, local,l and representative of all Oregonians.

Dr. Benjamin F. Chavis Jr., President & CEO, National Newspaper Publishers Association

Oakland Post

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Hate and Chaos Rise in Trump’s America

BLACKPRESSUSA NEWSWIRE — Tactics ranged from local policy manipulation to threats of violence. The SPLC documented bomb threats at 60 polling places in Georgia, traced to Russian email domains.

Published

2 days ago

May 23, 2025

Stacy M. Brown

By Stacy M. Brown
Black Press USA Senior National Correspondent

The Southern Poverty Law Center has identified 1,371 hate and antigovernment extremist groups operating across the United States in 2024. In its latest Year in Hate & Extremism report, the SPLC reveals how these groups are embedding themselves in politics and policymaking while targeting marginalized communities through intimidation, disinformation, and violence. “Extremists at all levels of government are using cruelty, chaos, and constant attacks on communities and our democracy to make us feel powerless,” said SPLC President Margaret Huang. The report outlines how hard-right groups aggressively targeted diversity, equity, and inclusion (DEI) initiatives throughout 2024. Figures on the far right falsely framed DEI as a threat to white Americans, with some branding it a form of “white genocide.” After the collapse of Baltimore’s Francis Scott Key Bridge, a former Utah legislator blamed the incident on DEI, posting “DEI = DIE.”

Tactics ranged from local policy manipulation to threats of violence. The SPLC documented bomb threats at 60 polling places in Georgia, traced to Russian email domains. Similar threats hit Jewish institutions and Planet Fitness locations after far-right social media accounts attacked them for trans-inclusive policies. Telegram, which SPLC describes as a hub for hate groups, helped extremists cross-recruit between neo-Nazi, QAnon, and white nationalist spaces. The platform’s lax moderation allowed groups like the Terrorgram Collective—designated terrorists by the U.S. State Department—to thrive. Militia movements were also reorganized, with 50 groups documented in 2024. Many, calling themselves “minutemen,” trained in paramilitary tactics while lobbying local governments for official recognition. These groups shared personnel and ideology with white nationalist organizations.

The manosphere continued to radicalize boys and young men. The Fresh & Fit podcast, now listed as a hate group, promoted misogyny while mocking and attacking Black women. Manosphere influencers used social media algorithms to drive youth toward male-supremacy content. Turning Point USA played a key role in pushing white nationalist rhetoric into mainstream politics. Its leader Charlie Kirk claimed native-born Americans are being replaced by immigrants, while the group advised on Project 2025 and organized Trump campaign events. “We know that these groups build their power by threatening violence, capturing political parties and government, and infesting the mainstream discourse with conspiracy theories,” said Rachel Carroll Rivas, interim director of the SPLC’s Intelligence Project. “By exposing the players, tactics, and code words of the hard right, we hope to dismantle their mythology and inspire people to fight back.”

Click here for the full report or visit http://www.splcenter.org/resources/guides/year-hate-extremism-2024.