Highlights of the House Financial Services Committee conference report on H.R. 2622 on the National Consumer Credit Reporting System Improvement Act of 2003, indicate the legislation will:
“Provide consumers with a free credit report every year from each of the three national credit bureaus, from a single centralized source
Provide consumers with new, landmark national identity theft protections
Provide consumers with broad new medical privacy rights
Give consumers the ability to opt-out of information sharing between affiliated companies for marketing purposes
Establish a financial literacy commission and a national financial literacy campaign; and
Ensure that consumers are notified if merchants are going to report negative information to the credit bureaus about them.”
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