H.R. 8485
Reported by CommitteeExpanding Access to Credit through Consumer-Permissioned Data Act
Latest Action
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 28 - 23.
7/27/2022 • House
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.
Introduced in House • 7/22/2022
Topics & Subjects
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Sponsor & Cosponsors (10)
Party Breakdown
Sponsor
Cosponsors (9)
Bill Journey
Originated in the House
Introduced
July 22, 2022
Committee Review
July 27, 2022
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 28 - 23.
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law