The ASAP Act introduces requirements for credit reporting agencies
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Senator Tim Scott introduced this bill in the Senate. It would require consumer reporting agencies—the companies that collect and sell your credit data—to provide more specific information regarding certain types of credit inquiries.
Why it matters: This is a regulatory change aimed at consumer transparency; its practical impact depends on whether the bill passes and how agencies implement the new reporting requirements.
Who it affects
- Consumer reporting agencies (credit bureaus)
This information comes from Congress.gov regarding a Senate bill; please consult the official text before relying on this information.
Agency: Senate
Source: Congress.gov — read the official document