Expanding Access to Credit through Consumer-Permissioned Data Act

United States117th CongressHR-8485House of Representatives
Updated: Jul 27, 2022

Summary

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.

Bill texts

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Introduced (House)View official text

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Timeline

  1. Referred to the House Committee on Financial Services.

    House of Representatives

  2. Introduced in House

  3. Committee Consideration and Mark-up Session Held.

    House of Representatives

  4. Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 28 - 23.

    House of Representatives

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