HR1173 96TH GENERAL ASSEMBLY

HR1173 LRB096 21693 GRL 40062 r

HOUSE RESOLUTION

WHEREAS, The current economic crisis has resulted in lost jobs in both the public and private sectors; and

WHEREAS, When people lose jobs, they experience difficulty paying their bills and meeting their other financial obligations; people who have lost their jobs often have been unable to make their house payments, which has resulted in a wave of foreclosures throughout the nation; overwhelmed by unpaid bills, the credit scores of those afflicted have decreased dramatically; and

WHEREAS, The only way for most of these people for get back on their feet and regain lost credit is to find a new job; and

WHEREAS, The use of credit checks by prospective employers has prevented many people with bad credit reports from gaining employment; and

WHEREAS, Such credit checks create a vicious cycle that prevents those who most need jobs from getting them; and

WHEREAS, Enabling those with bad credit reports to clean up their credit scores would provide immense benefits to the economy and promote the virtues of financial literacy and responsibility; and

WHEREAS, The Credit Card Accountability Responsibility and Disclosure Act of 2009 requires companies that promote free credit score reports to disclose the existence of government-sponsored credit score services on all print, radio, television, and online advertisements; and

WHEREAS, The creation and expansion of guidelines for customers to fix their credit scores would help those with bad credit to rebuild and regain what they have lost and aid in the recovery of the national economy as a whole; and

WHEREAS, Proper federal legislation could provide a way for federal agencies to take complaints from citizens about their employment woes and guide them toward gainful employment and credit rehabilitation; and

WHEREAS, The average American citizen should be the main beneficiary of any such legislation; and

WHEREAS, Consumer protection should be a primary concern of our nation and our government; therefore, be it

RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE NINETY-SIXTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that we urge Congress to consider and pass legislation that would establish statutory or regulatory guidelines and procedures for consumers to clean up their credit reports; and be it further

RESOLVED, That suitable copies of this resolution be presented to the Speaker and Minority Leader of the United States House of Representatives, the Majority and Minority Leader of the United States Senate, and the members of the Illinois congressional delegation.