The bill, titled the "Ending Scam Credit Repair Act" or "ESCRA Act," seeks to amend the Credit Repair Organizations Act to increase protections for consumers against harmful practices in the credit repair industry. It introduces provisions prohibiting credit repair firms from making...
Simple Explanation
The "Ending Scam Credit Repair Act" is like a rulebook that makes sure companies helping people fix their credit can't be sneaky or take money up front without showing they actually helped. It also says these companies need a special license and should be honest about who they are when talking to others to make everything fair and clear.