The legislation would restrict remedies for American consumers whose credit reports and background check reports were recklessly distorted and who suffered serious consequences as a result, including losing their ability to access credit such as a mortgage, a car loan, rental housing, or employment. Limiting damages in Fair Credit Reporting Act (FCRA) legal actions, as this bill proposes, would embolden credit reporting and background check agencies to disregard federal protections meant to ensure accurate reporting of credit records and other consumer reports. The bill would allow bad actors in the credit reporting industry to wrongfully label consumers as deadbeats, terrorists, and criminals without fear of meaningful consequences. It also would have a deleterious effect on the marketplace due to the spread of defective data and information on millions of consumers and workers that almost inevitably would result.