Credit Repair Scam Bill Update
This week, Rep. Sarah McBride (D-DE) testified before the House Financial Services Committee in support of the Ending Scam Credit Repair Act (ESCRA). This bipartisan bill sponsored by Reps. McBride and Young Kim (R-CA) targets deceptive credit repair organizations (CROs) that mislead consumers with high upfront fees and false promises of credit score improvements.
Representative McBride testified that, “ESCRA also prohibits CROs from jamming financial institutions with duplicative requests, which have prevented those institutions from addressing legitimate credit report issues.” Read Representative McBride’s testimony here.
With ESCRA, Representative McBride was the first Democrat to introduce legislation in the 119th Congress. It has broad support, with endorsement from the National Consumer Law Center, AARP, Consumer Action, American Bankers Association, National Association of Consumer Bankruptcy Attorneys, Consumer Bankers Association, National Association of Consumer Advocates, and American Fintech Council.
AFSA continues to work with Members of Congress to advance ESCRA through the legislative process.
June 25th, 2025
