To amend the Credit Repair Organizations Act to add additional protections against harmful practices within the credit repair organization industry, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To amend the Credit Repair Organizations Act to add additional protections against harmful practices within the credit repair organization industry, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Technology, Environment.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section H5EF6EE51AC774B2594D1365A5FA3C341: 1. Short title This Act may be cited as the Ending Scam Credit Repair Act or the ESCRA Act.
- Section H5A32788D45A047249676FA695DD29EEA: 2. Credit Repair Organization definition Section 403(3) of the Credit Repair Organizations Act (15 U.S.C. 1679a(3))— in subparagraph (A), by inserting (not...
- Section HD623365BF0C84CAE989587A1B6DC2515: 3. Prohibited practices Section 404(a)(1) of the Credit Repair Organizations Act (15 U.S.C. 1679b(a)(1)) is amended— by inserting knowingly before make any...
- Section H1C1C651DD8AA4D1085C2ADF541E8AA59: 4. Disclosures Section 405 of the Credit Repair Organizations Act (15 U.S.C. 1679c) is amended— in subsection (a)— by striking due to fraud. and inserting due...
- Section H9559CCE79E3C4CEFB75B1F08F000FB51: 5. Consumer contract required Section 407(c) of the Credit Repair Organizations Act (15 U.S.C. 1679e(c)) is amended by adding at the end the following:...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To amend the Credit Repair Organizations Act to add additional protections against harmful practices within the credit repair organization industry, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Technology, Environment
Primary Purpose
This bill, To amend the Credit Repair Organizations Act to add additional protections against harmful practices within the credit repair organization industry, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Sponsors
Wiley Nickel
D-NC | Primary Sponsor
Legislative Progress
IntroducedMr. Nickel (for himself and Mrs. Kim of California) introduced …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_commission"
- → The commission identified in the operative section
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
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