H.R. 8485 · 117th Congress
Expanding Access to Credit through Consumer-Permissioned Data Act
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
WilliamsSponsor9 cosponsors · 9 D
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Expanding Access to Credit through Consumer-Permissioned Data Act
What it does: CRS summary · Introduced in House · Jul 22, 2022
Expanding Access to Credit through Consumer-Permissioned Data Act
This bill requires the consideration of additional credit information by a mortgage lender when evaluating a consumer's creditworthiness if a consumer requests that this information be considered. This additional information includes current payment and transaction information such as bank statements and rental payment history.
Mortgage lenders must provide notice to mortgage applicants of their rights under this bill.
Additionally, federal agencies that insure, guarantee, supplement, assist, or underwrite federally backed mortgage loans must also comply with these requirements.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Expanding Access to Credit through Consumer-Permissioned Data Act
Latest action (Jul 27, 2022): Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 28 - 23.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Jul 22, 2022
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.