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H.R. 5775119th CongressIn markupLatest action Jun 30, 2026Decoded by AI · checked against the record
The plain-language version leads. The official text is always the reference.
HR 5775 would cap attorney's fees and class action damages in lawsuits against credit reporting companies.
40-second read · 4 questions answered below
HR 5775 would limit money awarded in lawsuits under the Fair Credit Reporting Act. Attorney's fees and costs would be capped at $100,000 or 40% of damages, whichever is smaller, and class action recoveries would be capped at $500,000 or 1% of the company's net worth, whichever is lower.
This affects consumers who find errors on their credit reports or have their credit data mishandled, and businesses like credit bureaus, lenders, and background check companies.
Supporters say the caps would reduce excessive lawsuits and legal costs for businesses, while critics say the caps could limit compensation for large groups of harmed consumers since the class action cap would not grow with the size of the class.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: a House committee is reviewing it. If the Senate changes it, it goes back to the House before reaching the President.
Latest action: — Ordered to be Reported (Amended) by the Yeas and Nays: 27 - 23.