WeVote
Log In

Bill

Bill

SB 695

Relating to requiring consumer reporting agencies to notify a consumer when inaccurate information in the consumer's file is corrected.

89th Legislature (2025) Introduced by César Blanco and 1 co-sponsor

Texas bill requires credit bureaus to notify consumers when inaccurate information in their files is corrected, improving transparency in credit reporting.

Co-author authorized
#business&commerce--general(i0050) #consumerreportingagencies(s0120) #email&electroniccommunications(s0321) #financial--general(i0365)
0
WeVote Research Nonpartisan
Bill Summary · SB 695

Legislative bill overview

SB 695 would require consumer reporting agencies (credit bureaus) to actively notify consumers when inaccurate information in their credit files is corrected. Currently, agencies correct errors but often don't inform the consumer that the correction occurred. This bill mandates they provide notification of such corrections.

Why is this important

Credit inaccuracies can damage credit scores and loan eligibility for years. Consumers often discover errors only after being denied credit. Mandatory notification ensures consumers know corrections were made, can verify accuracy, and have documentation for future disputes or lender inquiries.

Potential points of contention

  • Compliance costs: Consumer reporting agencies may argue notification requirements increase operational expenses, potentially passed to consumers through higher fees
  • Implementation details: The bill doesn't specify notification method (email, mail, portal), timeline for notification, or what constitutes adequate "correction," creating ambiguity
  • Scope ambiguity: Unclear whether this applies only to consumer-initiated disputes or all corrections, including those made by creditors directly

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.