NAR Letter to Representative Gottheimer Regarding HR 5332 Protecting Your Credit Score Act of 2020
Issue Date: June 23, 2020
US HR 5332 - Protecting Your Credit Score Act of 2019
On June 23, NAR sent a letter to Representative Gottheimer. The letter supports several provisions of H.R. 5332, the Protecting Your Credit Score Act of 2020. NAR is particularly supportive of sections two through six, which reflect NAR’s principles on credit reporting. REALTORS® believe that access to free credit scores, transparency in the reporting process and use of consumer credit information, high standards for vetting credit information, and a reliable method for contesting and correcting inaccurate information are critical to a vibrant housing market and economy. While NAR has no position on the primary regulator of the CRAs, the Association appreciates the legislation’s clarification of this important point. Creditor and consumer confidence are critical in the home financing process, and our nation’s housing market and overall economy benefit tremendously from balanced financial regulation and appropriate consumer protection.