Nov. 21 Adjournment Forcing FCRA Conference to Move Quickly

WASHINGTON-Nineteen Representatives were recently named to the House-Senate conference on the Fair Credit Reporting Act renewal legislation in addition to the seven previously appointed Senators. House conferees include House Financial Services Committee Chairman Mike Oxley (R-Ohio), Ranking Member Barney Frank (D-Mass.) and Representatives Doug Bereuter (R-Neb.), Spencer Bachus (R-Ala.), Michael Castle (R-Del.), Ed Royce (R-Calif.), Bob Ney (R-Ohio), Sue Kelly (R-N.Y.), Paul Gillmor (R-Ohio), Steve LaTourette (R-Ohio), Judy Biggert (R-Ill.), Pete Sessions (R-Texas), Paul Kanjorski (D-Pa.), Bernie Sanders (I-Vt.), Maxine Waters (D-Calif.), Mel Watt (D-N.C.), Luis Gutierrez (D-Ill.), Darlene Hooley (D-Ore.), and Dennis Moore (D-Kan.). “From all reports, they think it’s going to move pretty quickly, possibly even within one day, but we’ll have to see. There are some differences between the two bills, obviously,” CUNA Vice President of Legislative Affairs and Senior Legislative Counsel Gary Kohn remarked. Two of the biggest issues, according to NAFCU Director of Legislative and Political Affairs Brad Thaler, will be the affiliate sharing restrictions, which are not addressed in the House bill, and a provision in the House language to keep states from writing stricter identity theft requirements for credit bureaus and financial institutions in six different areas. He added that the staffs of the conferees would be working on the legislation late last week and he expects a conference report out by early this week. The Senators on the conference committee include Senate Banking Committee Chairman Richard Shelby (R-Ala.), Ranking Member Paul Sarbanes (D-Md.), and Senators Robert Bennett (R-Utah), Wayne Allard (R-Colo.), Mike Enzi (R-Wyo.), Chris Dodd (D-Conn.), and Tim Johnson (D-S.D.).