A bill to amend the Fair Credit Reporting Act, and to create a new title in the Consumer Credit Protection Act in order to license consumer credit investigators.

[AI summary unavailable — showing source text] Sets forth restrictions on the procurement or instigation of an investigative consumer report. States that a person may not procure or cause to be prepared a consumer report on any consumer unless it is clearly and accurately disclosed to the consumer that such a report may be made. Entitles the consumer to a copy of such report. Provides that any consumer reporting agency which negligently or maliciously publishes any untrue statement or representation with respect to a consumer shall be liable to such consumer for: (1) actual damages, but not less than liquidated damages of $1,000; (2) punitive damages; and (3) a reasonable attorney's fee and other litigation costs reasonably incurred. Directs the President to establish a Board of Consumer Investigation Examiners. Provides that the Board shall promulgate such rules and procedures, as it deems necessary or appropriate in order to regulate the examining, licensing, and practices of individuals who investigate consumers for the purpose of preparing or aiding in the preparation of investigative consumer reports. Establishes procedures and guidelines for granting or revoking licenses granted individuals to prepare or aid in the prepar…