Protection against erroneous credit reports would be provided for small businesses by a bill introduced by Sen. Lowell Weicker (R-Conn.) . "Availability of credit, more than anything else, is what will make or break a business today," Weicker says. Hearings held during the last Congress by the Senate Small Business Committee revealed "widespread inaccuracies, use of outdated and obsolete information, and cases of discrimination against firms that chose not to provide financial information to credit reporting firms" in reports by commercial credit agencies. Weicker's bill would extend to business owners the same rights and protections consumers get under the Fair Credit Reporting Act -- the rights to examine and challenge unfavortable credit reports.
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