Fair Credit for American Hostages Act

Where This Stands

Introduced

Committee

Floor Vote

Passed

Signed

Currently IN_COMMITTEE. The next step in the legislative lifecycle is Floor Vote.

Version history

Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.

View official text →

The Frame

What this does

This legislation protects the credit scores of U.S. nationals who were unable to manage their financial obligations while being held captive, ensuring their credit history is not permanently damaged by circumstances beyond their control.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

U.S. nationals detained or held hostage abroad

These individuals gain the right to have adverse credit information removed if it resulted from their period of captivity.

Consumer reporting agencies

These agencies must update their reporting practices to exclude specific adverse information once provided with required documentation.

What changed

Current stage: IN_COMMITTEE.

What's next

Floor Vote.

Background

The Robert Levinson Hostage Recovery and Hostage-Taking Accountability Act established the legal framework for identifying and assisting U.S. nationals wrongfully detained or held hostage abroad. context

Summary

This bill prevents credit reporting agencies from including negative information on a person's credit report if that information resulted from them being wrongfully detained or held hostage abroad. It requires the Consumer Financial Protection Bureau to create a process for these individuals to submit documentation to clear their credit records.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Frequently Asked Questions

Who qualifies as a 'covered consumer' under this bill?

A 'covered consumer' is a U.S. national who has been determined to be unlawfully or wrongfully detained abroad, or taken hostage abroad, according to standards set by the Robert Levinson Hostage Recovery and Hostage-Taking Accountability Act.

How will a consumer prove they were a hostage to a credit agency?

The bill requires the Director of the Consumer Financial Protection Bureau to create a formal method for consumers or their legal representatives to submit 'detention or hostage documentation' to credit reporting agencies.

When do these protections take effect?

The protections apply 30 days after the Director of the Consumer Financial Protection Bureau issues the final rules required by the bill.

Why It Matters

This legislation protects the credit scores of U.S. nationals who were unable to manage their financial obligations while being held captive, ensuring their credit history is not permanently damaged by circumstances beyond their control.

News Coverage

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Connected Entities

organizationHostage Recovery Fusion Cell“Responsible for determining hostage situations”Map →

bill_numberRobert Levinson Hostage Recovery and Hostage-Taking Accountability Act“Used to define 'covered consumer'”Map →

bill_numberFair Credit Reporting Act“The law being amended”Map →

organizationSenate“Introduced by Senators Coons and Tillis”Map →

organizationBureau of Consumer Financial Protection“Responsible for issuing rules”Map →

Analysis Score

0–100

Significance65
How much this matters to a regular citizen
Controversy10
Intensity of disagreement among stakeholders
Entertainment5
Compellingness for a non-policy-wonk reader
Buzz20
Current news / social attention level