HR 3629
116th Congress
House
Finance and Financial Sector
Administrative law and regulatory procedures
Banking and financial institutions regulation
Business records
Computer security and identity theft
Congressional oversight
Consumer Financial Protection Bureau
Consumer credit
Credit and credit markets
Government information and archives
Government studies and investigations
Immigration status and procedures
Low- and moderate-income housing
Minority and disadvantaged businesses
Racial and ethnic relations
Refugees, asylum, displaced persons
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Rural conditions and development
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Urban and suburban affairs and development
Clarity in Credit Score Formation Act of 2019
Introduced: July 9, 2019
Introduced by:
Lynch, Stephen F.
Democratic
· Massachusetts
See on congress.gov
Everywhere this bill has been
6 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 21, 2019
Placed on the Union Calendar, Calendar No. 248.
Nov 21, 2019
Reported (Amended) by the Committee on Financial Services. H. Rept. 116-307.
Jul 16, 2019
Ordered to be Reported (Amended) by the Yeas and Nays: 33 - 25.
Jul 16, 2019
Committee Consideration and Mark-up Session Held.
Jul 9, 2019
Referred to the House Committee on Financial Services.
Jul 9, 2019
Introduced in House
Plain-English summary
Clarity in Credit Score Formation Act of 2019
This bill provides that the Consumer Financial Protection Bureau (CFPB) must regulate credit score models by establishing standards for validating the accuracy and predictive value of these models. The bill also gives the CFPB the authority to prohibit the use of certain factors in credit score models.
The CFPB must report on the impact of the inclusion of nontraditional data in these models.
What's happening now
Placed on the Union Calendar, Calendar No. 248.
Committees of jurisdiction
1
Cosponsors
1