This Wednesday July 9, U.S. Treasury Secretary John Snow will testify before Congress on the Bush Administration's proposed package of changes to the Fair Credit Reporting Act (FCRA). Snow unveiled the proposal last week during remarks at the Treasury Department. The Bush Administration's package mirrors H.R. 2622, introduced June 26 by Representative Spencer Bachus (R-Alabama) to extend and make permanent uniform national credit reporting standards set to expire January 1, 2004. The legislation followed five hearings and months of deliberations by lawmakers. Snow said national standards in FCRA protect consumer interests by expanding opportunities for consumers to access credit and financial services and ensure personal information is more accurate and secure.

What It Means to Agents: PIA supports reauthorization of the Fair Credit Reporting Act (FCRA) and is working with other associations and key Members of Congress on reauthorization of the expiring FCRA provisions.

July 8, 2003