Statement of Administration Policy: H.R. 3596 - Consumer Credit Reporting Reform Act of 1992

(SENT 9/16/92)
(House Rules) and SENT to House 6/17/92 (Torres (D) California)

The Administration supports enactment of H.R. 3596, which would enhance the accuracy of credit reports, if it is amended to:

• Allow the use of credit reports for employment screening purposes only if they are relevant to the job.
  
  
• Delete the inflexible cap on the charge to consumers to obtain credit reports.
  
  
• Clarify that State enforcement authority does not interfere with that of the Office of the Comptroller of the Currency with respect to national banks. This could be achieved by defining "any person" in the relevant section of the bill.

Pay-As-You-Go Scoring

At least one provision of H.R. 3596 would affect receipts; therefore, it is subject to the pay-as-you-go requirement of the Omnibus Budget Reconciliation Act (OBRA) of 1990. OMB's preliminary scoring estimate of this bill is that it would be revenue neutral. Final scoring of this legislation may deviate from this estimate. If H.R. 3596 were enacted, a final OMB scoring estimate would be published within five days of enactment, as required by OBRA. The cumulative effects of all enacted legislation on direct spending will be issued in monthly reports transmitted to the Congress.