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.
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 22, 2022
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
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.
Cosponsors 9
Members who signed on, in the order they did. Signatures ran from Jul 26, 2022 to Jul 27, 2022.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-TX | Al Green | Jul 26, 2022 | |
| D-NC | Alma S. Adams | Jul 26, 2022 | |
| D-CA | Brad Sherman | Jul 26, 2022 | |
| D-DC | Eleanor Holmes Norton | Jul 26, 2022 | |
| D-IL | Jesús G. "Chuy" García | Jul 26, 2022 | |
| D-PA | Madeleine Dean | Jul 26, 2022 | |
| D-NY | Ritchie Torres | Jul 26, 2022 | |
| D-MA | Stephen F. Lynch | Jul 26, 2022 | |
| D-TX | Sylvia R. Garcia | Jul 27, 2022 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred Jul 22, 2022Markup Jul 27, 2022 |
Actions 4
Everything that happened, newest first.
- Jul 27, 2022Committee Consideration and Mark-up Session Held.
- Jul 27, 2022Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 28 - 23.
- Jul 22, 2022Introduced in House
- Jul 22, 2022Referred to the House Committee on Financial Services.
In the Congressional Record 1
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| House | Lists H7073H.R. 8485–8486 | — | Jul 22, 2022 |
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 168, no. 122, July 22, 2022, page H7073.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 2543 | Financial Services Racial Equity, Inclusion, and Economic Justice Act | Related bill | Jun 21, 2022 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Equal Credit Opportunity Act to require creditors to consider certain additional credit information when making mortgage loans, and for other purposes.
- Short Title(s) as Introduced
- Expanding Access to Credit through Consumer-Permissioned Data Act
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Jul 22, 2022Introduced 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; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
