Treatment under the Fair Credit Reporting Act

(a) Amendment Section 605 of the Fair Credit Reporting Act (15 U.S.C. 1681c) is amended by adding at the end the following: (i) OBF product information (1) In general With respect to an OBF product (as that term is defined in subsection (h) of section 140 of the Truth in Lending Act (15 U.S.C. 1650(h))), a consumer report made by a consumer reporting agency— (A) may include a description of the contract terms of the OBF product and, subject to subsection (a), information with respect to amounts that are owed under the OBF product; and (B) with respect to an outcomes-based payment agreement, may not include any speculation about future amounts that may be owed under the outcomes-based payment agreement, including the reporting of any payment caps or early termination amounts. (2) Regulations The Bureau shall promulgate regulations with respect to the manner in which OBF providers may furnish, and consumer reporting agencies may report, information relating to OBF products..