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Senate Bill 3633
115th Congress(2017-2018)
Small Business Credit Protection Act
Introduced
Introduced
Introduced in Senate on Nov 15, 2018
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Introduced in Senate 
Nov 15, 2018
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Introduced in Senate(Nov 15, 2018)
Nov 15, 2018
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S. 3633 (Introduced-in-Senate)


115th CONGRESS
2d Session
S. 3633


To require that consumer reporting agencies provide small business credit protections.

IN THE SENATE OF THE UNITED STATES

November 15, 2018

Mr. Rubio (for himself and Mr. Kennedy) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

A BILL

To require that consumer reporting agencies provide small business credit protections.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Small Business Credit Protection Act”.

SEC. 2. Consumer reporting agencies.

(a) Definitions.—In this section:

(1) CONSUMER REPORTING AGENCY.—The term “consumer reporting agency” has the meaning given the term in section 603 of the Fair Credit Reporting Act (15 U.S.C. 1681a).

(2) SMALL BUSINESS CONCERN.—The term “small business concern” has the meaning given the term in section 3 of the Small Business Act (15 U.S.C. 632).

(b) Requirements.—A consumer reporting agency—

(1) shall disclose to a small business concern within 30 days if their nonpublic business data has been breached; and

(2) may not charge a small business concern for their credit report within 180 days following a breach.

(c) No preemption.—Nothing in this Act shall preempt any State law with respect to consumer reporting agencies.