A single error on a credit report can prevent a person from buying a home or getting a job. While the big credit bureaus are heavily regulated, the middlemen who package this data often operate in a legal gray area regarding their responsibility for accuracy. This bill tries to fix that by making sure every company handling your data has a responsibility to keep it clean.

If this becomes law, it creates a standard for the industry that could reduce 'clerical errors' that happen when data is transferred from one company to another. For voters, this means a more reliable credit system where it is clearer who is responsible for fixing a mistake when one appears.