Cleo Fields (D-LA)
To require the Bureau of Consumer Financial Protection and the Federal Trade Commission to conduct a study on use of additional key factors in credit scoring models, and for other purposes.
A Democratic bill with no cosponsors
Last activity — Referred to the House Committee on Financial Services.
In committee
Introduced and handed to a committee in the chamber it started in.
The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.
Its path through Congress
- Introduced
- In Committee
What this bill would do
This bill requires the Bureau of Consumer Financial Protection and the Federal Trade Commission to jointly conduct a study and submit a report to Congress. The report must look at credit scoring models that use additional key factors and how these models affect how creditors evaluate consumer creditworthiness. The specific key factors include brokerage accounts, Buy Now Pay Later contracts, electronic benefit transfer records, and rental payments. Other factors listed are utility payments, telecom and subscription services, bank and credit union transaction data, and payroll deposits. The bill also includes insurance payment history, public records on property and court filings, and peer-to-peer financial transactions. This report is required to be submitted to Congress not later than December 31, 2025.
Yes· 3 of 5
- Scored +2
Does this make what the government does easier for the public to see?
Requires a comprehensive report to Congress on consumer credit scoring practices.
- Scored +2
Does this give people more protection from unfair business practices?
Requires a study on alternative credit scoring models to better understand consumer credit evaluation.
- Scored +1
Does this give the federal government more power?
Tasks federal agencies with conducting a national study on credit scoring models.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
- Section 1(a) requires the Bureau of Consumer Financial Protection and the Federal Trade Commission to study and report on how using additional key factors in credit scoring models affects the ways creditors evaluate consumer creditworthiness. This could be positive because it holds officials accountable to check how new data types impact regular people applying for credit.
Potential Negative Impacts for People
- The provided text does not contain any specific sections or provisions that outline negative consequences or burdens for individuals or groups of people in the United States.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Governance And Ideology
- Does this make what the government does easier for the public to see? — Requires a comprehensive report to Congress on consumer credit scoring practices. Does this give the federal government more power? — Tasks federal agencies with conducting a national study on credit scoring models.
- Demographic And Interest Groups
- Would households on low incomes be better off under this? — Study on alternative payment data could eventually benefit consumers who rely on non-traditional credit building methods. Would people in their twenties and thirties be better off under this? — Evaluating alternative data like rental and utility payments can help young adults build credit history.
- Economy And Finance
- Does this give people more protection from unfair business practices? — Requires a study on alternative credit scoring models to better understand consumer credit evaluation.
- 9/2/2025
- Referred to the House Committee on Financial Services.
- Introduced in House