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United States · Bill · HR

H.R. 8485 (117th)

Expanding Access to Credit through Consumer-Permissioned Data Act

reportedUnited States· United States Congress· EN

Introduced

22 July 2022

Last action

Status

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

Sponsors

Subjects

Discovery layer

Source updated

15 May 2025

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.

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Documents

3 official files

Introduced in House (text)

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