July 1, 2003
WASHINGTON (AP) -- The Bush administration wants to increase consumer access to credit reports and streamline credit security for victims of identity theft.
The measures proposed Monday are among several the Treasury Department wants added to the Fair Credit Reporting Act, which contains provisions that Congress must renew by year's end.
The administration wants to let consumers obtain a free credit report annually, upon request, and wants the reports explained in clear language.
Consumer groups have opposed the renewal of the act, saying states should be free to set their own standards for sharing personal data. Business groups prefer the national standards because consumers could face different scores based on where they live and not their payment histories.
