20 U.S.C. § 9706 — Studies by the Comptroller General
submitted 23 years ago by Pub. L. 108-159 to r/title-20-EDUCATION · 314 words · no verdicts yet
The Comptroller General must evaluate the Commission and study consumers’ knowledge of credit reports, credit scores, and disputes. The Comptroller General must report the findings and appropriate recommendations to Congress.
(a) No later than three years after December 4, 2003, the Comptroller General must report to Congress on how effective the Commission* has been in promoting financial literacy and education.
(b)(1) The Comptroller General must study how much consumers know about and understand credit reports, credit scores, and dispute resolution, and ways to improve consumer financial literacy.
(2) The study must address—
(A) how many consumers view their credit reports;
(B) the conditions and purposes for which consumers mainly obtain consumer reports, including checking completeness and accuracy, protecting against fraud, responding to adverse action based on the report, or responding to suspected identity theft, and approximately what percentage obtain reports for each main purpose;
(C) how much consumers know about the data-collection process;
(D) how much consumers know about obtaining a consumer report; and
(E) how much consumers know and understand the factors that improve or harm credit scores.
(3) Before the 12-month period beginning December 4, 2003, ends, the Comptroller General must report to Congress the study’s findings and conclusions, with any appropriate legislative or administrative recommendations, including ways to improve consumer financial literacy.
Not later than 3 years after December 4, 2003, the Comptroller General of the United States shall submit a report to Congress assessing the effectiveness of the Commission* in promoting financial literacy and education.
The Comptroller General of the United States shall conduct a study to assess the extent of consumers’ knowledge and awareness of credit reports, credit scores, and the dispute resolution process, and on methods for improving financial literacy among consumers.
The study required under paragraph (1) shall include the following issues:
The number of consumers who view their credit reports.
Under what conditions and for what purposes do consumers primarily obtain a copy of their consumer report (such as for the purpose of ensuring the completeness and accuracy of the contents, to protect against fraud, in response to an adverse action based on the report, or in response to suspected identity theft) and approximately what percentage of the total number of consumers who obtain a copy of their consumer report do so for each such primary purpose.
The extent of consumers’ knowledge of the data collection process.
The extent to which consumers know how to get a copy of a consumer report.
The extent to which consumers know and understand the factors that positively or negatively impact credit scores.
Before the end of the 12-month period beginning on December 4, 2003, the Comptroller General shall submit a report to Congress on the findings and conclusions of the Comptroller General pursuant to the study conducted under this subsection, together with such recommendations for legislative or administrative action as the Comptroller General may determine to be appropriate, including recommendations on methods for improving financial literacy among consumers.
Source credit: (Pub. L. 108–159, title V, § 517, Dec. 4, 2003, 117 Stat. 2008.)
- 2003Enacted · Pub. L. 108-159 · 117 Stat. 2008
A history note hasn’t been published yet. The record shows enactment by Pub. L. 108-159 on 2003-12-04.
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