Ability to Repay Verification Enabling Act
The source supplies the latest action, but no lifecycle stage.
Latest action (18 Jul 2013): Referred to the House Committee on Ways and Means.
What this bill does
This bill, the Ability to Repay Verification Enabling Act, aims to change a rule from the Department of Labor concerning how consumer reporting agencies access unemployment compensation data. Specifically, it would prohibit the Secretary of Labor from enforcing a requirement that these agencies get an individual's informed consent to get confidential unemployment information from a state agency. This prohibition would apply if the agency is only acting as a secure link to the data and is not representing the individual.
The bill affects third-party consumer reporting agencies that act as intermediaries for unemployment compensation data. It also indirectly affects individuals whose unemployment compensation information might be accessed for income and employment verification, and potentially lenders who use this information for loan decisions. The bill's findings suggest that easier access to this data could benefit economic growth and loan approval processes.
This bill was introduced in the House of Representatives in July 2013 and referred to the Committee on Ways and Means. As of its introduction, it had not progressed further in the legislative process. If it were to advance, it would need to pass the House, then the Senate, and finally be signed by the President to become law.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Official summary
Ability to Repay Verification Enabling Act - Prohibits the Secretary of Labor from implementing, enforcing, or administering the requirement in the Unemployment Insurance Program Letter No. 19-12, dated May 23, 2012, that a third-party consumer reporting agency obtain an informed consent agreement from an individual in order to obtain from a state agency confidential unemployment compensation information about the individual, if the consumer reporting agency: (1) serves only as a secure conduit to data from state unemployment compensation agencies, and (2) is not an agent of the individual.
Timeline
18 Jul 2013
Referred to the House Committee on Ways and Means.
Common questions
- What does H.R. 2722 do?
- This bill, the Ability to Repay Verification Enabling Act, aims to change a rule from the Department of Labor concerning how consumer reporting agencies access unemployment compensation data. Specifically, it would prohibit the Secretary of Labor from enforcing a requirement that these agencies get an individual's informed consent to get confidential unemployment information from a state agency. This prohibition would apply if the agency is only acting as a secure link to the data and is not representing the individual. The bill affects third-party consumer reporting agencies that act as intermediaries for unemployment compensation data. It also indirectly affects individuals whose unemployment compensation information might be accessed for income and employment verification, and potentially lenders who use this information for loan decisions. The bill's findings suggest that easier access to this data could benefit economic growth and loan approval processes. This bill was introduced in the House of Representatives in July 2013 and referred to the Committee on Ways and Means. As of its introduction, it had not progressed further in the legislative process. If it were to advance, it would need to pass the House, then the Senate, and finally be signed by the President to become law.
- Has H.R. 2722 become law?
- The source does not supply a confirmed lifecycle stage for H.R. 2722. Check the latest action and official source below.
- Who sponsored H.R. 2722?
- H.R. 2722 was sponsored by Rep. Ellison, Keith [D-MN-5] (D-MN), with 1 cosponsor.
- What's the latest action on H.R. 2722?
- Referred to the House Committee on Ways and Means. (18 Jul 2013).
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