WASHINGTON – U.S. Senators Chris Coons (D-Del.) and Thom Tillis (R-N.C.) reintroduced the Fair Credit for American Hostages Act today to protect the credit scores of Americans who have been held hostage or wrongfully detained abroad. In addition to Senators Coons and Tillis, this legislation is co-sponsored by Senators Ron Wyden (D-Ore.), Cynthia Lummis (R-Wyo.), Chris Van Hollen (D-Md.), and Mike Rounds (R-S.D.). This legislation was originally introduced in the 118th Congress, and passed the Senate unanimously in December.
“When you’re held hostage or wrongfully detained in a foreign prison for months or years on end, you’re not thinking about whether there’s enough money coming into your bank account to pay your utility bill—but right now, financial institutions just see someone who’s not paying their bills. Americans who've already endured the trauma of wrongful detention abroad shouldn't come home to find their credit score ruined,” said Senator Coons. “The Fair Credit for American Hostages Act addresses this injustice, providing crucial protection for these heroic Americans and their families who have already endured far too much, so that time spent in foreign detention doesn't harm their financial futures long after they're home.”
“No one should ever have to fear returning home to financial ruin and a damaged credit history due to their inability to make timely payments while being held hostage in a foreign country,” said Senator Tillis. “This commonsense legislation ensures that Americans held captive abroad won’t have to grapple with the financial distress of a ruined credit score, so they can focus on rebuilding their lives.”
“Hostage US strongly supports the Fair Credit for American Hostages Act. As the leading organization providing reintegration support, guidance, and resources to Americans held hostage or wrongfully detained abroad, we see firsthand the long-term impact captivity has on individuals and their loved ones. This critical piece of legislation prevents damaged credit when hostages return home and means former captives can rebuild their lives without additional hardship. Americans who have endured captivity should have financial protections and this commonsense legislation will provide much-needed relief to those who have already suffered so much,” said Liz Cathcart, Executive Director of Hostage US.
“The Foley Foundation appreciates Senator Coons' consistent, bipartisan leadership to address the often profound challenges faced by Americans who survive unjust captivity abroad. These bills offer common sense solutions to the financial issues former hostages face as they seek to restore their lives and livelihoods,” said Benjamin Gray, Executive Director of the Foley Foundation.
Americans who are held hostage or wrongfully detained abroad often cannot pay their bills while in detention. Upon their release and return to the United States, many find that their credit scores have suffered due to missed payments. This bipartisan legislation would prevent credit rating agencies from considering payments missed during the detention of Americans who have been held hostage or wrongfully detained abroad.
Senator Coons has led numerous bills supporting American hostages and wrongful detainees and addressing financial hardships they often face upon their return. He reintroduced the Fair Credit for American Hostages Act alongside two other hostage bills today––the Stop Tax Penalties on American Hostages Act and Retirement Security for American Hostages Act. The first is a bill with Senator Mike Rounds (R-S.D.) that would stop the IRS from imposing fines and penalties on American hostages and wrongful detainees for late tax payments while they are held abroad. This bill unanimously cleared the Senate last year. The latter is a bill with Senator Bill Cassidy, M.D. (R-La.) that would ensure that hostages and wrongful detainees are not penalized in calculating their Social Security benefits.
A one-pager is available here.
The full text of the legislation can be found here.