H.R. 6230 would amend the Securities Exchange Act of 1934 to require nationally registered statistical rating organizations to provide additional disclosures with respect to the rating of certain structured securities.

== Detailed Summary ==

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(Log inCredit Rating Agency Transparency and Disclosure Act - Amends the Securities Exchange Act of 1934 to editinstruct the wikiSecurities and beExchange Commission (SEC) to promulgate rules that: (1) require nationally recognized statistical rating organizations (NRSROs), with respect to their determination of credit ratings for structured securities, to disclose the firstinformation they require from originators, issuers, and underwriters regarding the collateral underlying such securities; (2) establish procedures to provide a detailed summarydisseminate information about processes used by such originators, issuers, and underwriters to assess the accuracy and integrity of their data and fraud detection; and (3) require each NRSRO to maintain on a publicly accessible Internet site the bill!)historical default rates of all classes of financial products it has rated.
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== Status of the Legislation ==

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Latest Major Action: 6/10/2008: Referred to House committee. Status: Referred to the House Committee on Financial Services.
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== Points in Favor ==

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== Points Against ==

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