Reacting to a report critical of credit bureaus, Rep. Joseph P. Kennedy 2d, D-Mass., said last week that he would push to further tighten credit reporting laws.

A recent U.S. Public Interest Research Group study found that 29% of credit reports contain errors that could cost someone a loan. Seventy percent include mistakes of some type, the report said.

"Congress recently passed a law that requires credit bureaus to promptly correct credit report mistakes, but it looks as if the credit bureaus have little interest in providing accurate reports," Rep. Kennedy said in a statement.

He said he is drafting legislation that would grant each consumer a free credit report at least once a year.

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