ESCRA Act

Plain-English summary

Ending Scam Credit Repair Act or the ESCRA Act This bill revises the Credit Repair Organizations Act and creates additional requirements for credit repair organizations (CROs). Under current law, it is illegal for a person (including a CRO) to make false or misleading statements regarding a consumer’s creditworthiness or standing to a consumer reporting agency or to a consumer credit provider. The bill additionally prohibits making such statements to the Consumer Financial Protection Bureau, the Federal Trade Commission, or law enforcement. To be subject to this prohibition, the bill also requires such statements to be made knowingly.

Deterministically condensed from the official CRS summary; verify details in the official record.