To require the Bureau of Consumer Financial Protection and the Federal Trade Commission to conduct a study on use of additional key factors in credit scoring models, and for other purposes.
Sponsor
Full profile: /officials/F000110
Source: Congress.gov · FEC
Cosponsors (0)
Members who have signed on to support this bill since introduction. Source: Congress.gov.
No cosponsors on record. Bills can pass without cosponsors — this often means the sponsor introduced the bill alone, either because it's a messaging bill, a chairman's mark, or simply early in the legislative cycle.
Latest Action
The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →
Plain-English Summary
The government would require two financial watchdog agencies to study whether credit scores could be improved by including additional information beyond traditional factors like payment history and debt levels. The study would examine whether using alternative data—such as rent payments, utility bills, or other financial behaviors—could help lenders make better lending decisions and potentially help people with limited credit histories access loans. This could affect both consumers trying to borrow money and financial companies that use credit scores to decide who qualifies for loans.
AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.
Affected Industries
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Subjects
Related legislation
Bills by the same sponsor or covering overlapping subjects.
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