Clarity in Credit Score Formation Act of 2019
Latest action · Nov 21, 2019 Placed on the Union Calendar, Calendar No. 248.
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.
- IntroducedJul 9, 2019
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Clarity in Credit Score Formation Act of 2019
This bill provides that the Consumer Financial Protection Bureau (CFPB) must regulate credit score models by establishing standards for validating the accuracy and predictive value of these models. The bill also gives the CFPB the authority to prohibit the use of certain factors in credit score models.
The CFPB must report on the impact of the inclusion of nontraditional data in these models.
Cosponsors 1
Members who signed on, in the order they did. All signed on Jul 17, 2019.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-MO | Emanuel Cleaver | Jul 17, 2019 |
Actions 6
Everything that happened, newest first.
- Nov 21, 2019Placed on the Union Calendar, Calendar No. 248.
- Nov 21, 2019Reported (Amended) by the Committee on Financial Services. H. Rept. 116-307.
- Jul 16, 2019Committee Consideration and Mark-up Session Held.
- Jul 16, 2019Ordered to be Reported (Amended) by the Yeas and Nays: 33 - 25.
- Jul 9, 2019Introduced in House
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 3621 | Comprehensive Credit Reporting Enhancement, Disclosure, Innovation, and Transparency Act of 2020 | Related bill | Jan 30, 2020 |
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
- Administrative law and regulatory procedures
- Banking and financial institutions regulation
- Business records
- Computer security and identity theft
- Congressional oversight
- Consumer credit
- Consumer Financial Protection Bureau
- Credit and credit markets
- Finance and Financial Sector
- Government information and archives
- Government studies and investigations
- Immigration status and procedures
- Low- and moderate-income housing
- Minority and disadvantaged businesses
- Racial and ethnic relations
- Refugees, asylum, displaced persons
- Right of privacy
- Rural conditions and development
- Sex, gender, sexual orientation discrimination
- Urban and suburban affairs and development
- Wages and earnings
Text 2
Each version as it was printed, newest first.
- Nov 21, 2019Reported in House
- Jul 9, 2019Introduced 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.