NU Online News Service, Nov. 21, 2003, 2:10 p.m. — Washington [@@]
House and Senate conferees have reached agreement on legislation to reauthorize permanently the Fair Credit Reporting Act, House Financial Services Committee Chairman Mike Oxley, R-Ohio, says.[@@]
“This is the most significant consumer protection and financial literacy legislation passed by Congress in decades,” Oxley says.
The legislation establishes national rules on the use of credit information and preempts state laws that are inconsistent with the federal standard.