HB 187 is scheduled for a vote on the House floor tomorrow, February 28.
We strongly oppose the passage of this bill because it would authorize for-profit credit repair organizations (CROs) in Georgia, which are known to implement abusive and dishonest practices to take advantage of vulnerable consumers. In 2019, the Consumer Financial Protection Bureau filed a complaint against the two largest CROs in the U.S., alleging deceptive acts and practices, violations of the Telemarketing Sales Rule, and charging consumers fees in violation of federal law, among other acts. This lawsuit is still pending litigation to this day.
CROs often market to consumers with promises of removing bankruptcies, liens judgments, and bad loans from their credit files. However, it is illegal to remove correct information from a credit report, even if it negatively reflects on the consumer. Furthermore, fees associated with credit repair services can be extremely high, often costing hundreds of dollars, when consumers can take steps to improve their credit legally and at no or low cost themselves.
We urge Representatives to vote against HB 187 to prevent unlawful practices that could harm Georgia consumers and their families.
We need your voice on this issue! Please contact your Representative today and ask them to vote against HB 187 tomorrow.
