The current version of a bill in the Virginia House of Delegates, HB 2198, would require commercial credit reporting agencies to identify their sources of "negative information" when they provide a copy of a report to its subject. This would mean that Virginia buyers would know the identities of the sellers that shared any of their negative payment history with a commercial credit reporting agency should they choose to dispute the information on their report.
However, according to the office of Delegate Michael Watson (R-James City/York Counties), the bill's chief patron, and other industry sources, an amendment to the bill that would eliminate this requirement is forthcoming. The text of such an amendment has yet to be made public.
Still, the bill would also require agencies to provide Virginia businesses access to a free annual credit report and would allow the subject of a commercial report to dispute parts of their report that they believe are inaccurate. After receiving the subject's complaint, the commercial credit reporting agency would have 30 days to either delete the statement or include a note in the report saying that the subject of the report has disputed a particular piece of information.