HR 8485 United States House · 117th Congress

Expanding Access to Credit through Consumer-Permissioned Data Act

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.
Bill status in committee 1 of 4 stages cleared
Introduction
Jul 2022
Committee Review
Floor Vote
President
Introduced Jul 22, 2022 Last action Jul 27, 2022
Floor votes

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Full legislative history

Actions timeline

Total actions
4
Key actions
1
Committee
2
Amendments
1
Jul 27, 2022
Introduced
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 28 - 23.
lower
Jul 27, 2022
Lower · Passed
Committee Consideration and Mark-up Session Held.
lower
Jul 22, 2022
Committee
Referred to the House Committee on Financial Services.
lower
Jul 22, 2022
Introduced
Introduced in House
lower
1 primary · 9 co-sponsors

Sponsors