"For too long the credit repair industry has been scamming Delawareans with low credit scores by promising easy credit fixes," McBride stated. "These CROs exploit legal loopholes to target cash-strapped Delawareans by charging large upfront fees based on false hopes of debt reduction. Our bipartisan bill eliminates those loopholes... by banning upfront fees, improving transparency, and enhancing consumer protections. Delawareans deserve real results, not empty and costly promises."
Kim emphasized the importance of the bipartisan effort, stating, "Fraudulent credit repair organizations, or CROs, should not get away with scamming hardworking Americans seeking to improve their scores and unlock their American dream. The Ending Scam Credit Repair Act helps consumers and hikes penalties for scammers."
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