HR 5083
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.
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill directs the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) to conduct a study on how credit scoring models are using ‘additional key factors’ beyond traditional credit history. The study will examine the impact of these expanded factors – such as brokerage statements, utility payments, and telecom bills – on how lenders assess a consumer’s creditworthiness. The goal is to understand the potential effects of these broader data sources on access to credit and financial opportunities.
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