Credit Score Competition Act of 2015
Latest action · Sep 27, 2016 Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedDec 10, 2015
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Credit Score Competition Act of 2015
This bill amends the Federal National Mortgage Association Charter Act to authorize the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (government sponsored enterprises, or GSEs) to use credit scores in purchasing residential mortgages only under certain conditions, including that the GSE has established and made publicly available a description of the process it will use to validate and approve credit scoring models.
The Director of the Federal Housing Finance Agency may, by regulation, establish standards and criteria for any process used by a GSE to validate and approve credit scoring models pursuant to the Acts.
Cosponsors 8
Members who signed on, in the order they did. Signatures ran from Dec 10, 2015 to Sep 21, 2016, with 1 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-AL | Terri A. Sewell | Original | Dec 10, 2015 |
| D-CT | James A. Himes | Dec 15, 2015 | |
| D-AZ | Kyrsten Sinema | Dec 15, 2015 | |
| R-NC | Robert Pittenger | Dec 16, 2015 | |
| D-NY | Gregory W. Meeks | Feb 9, 2016 | |
| R-CA | Mimi Walters | Jun 3, 2016 | |
| R-CO | Mike Coffman | Sep 6, 2016 | |
| R-CO | Scott R. Tipton | Sep 21, 2016 |
Actions 3
Everything that happened, newest first.
- Sep 27, 2016Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
- Dec 10, 2015Introduced in House
- Dec 10, 2015Referred to the House Committee on Financial Services.
Subjects
Assigned by the Library of Congress. Policy area: Housing and Community Development.
Text 1
Each version as it was printed, newest first.
- Dec 10, 2015Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.