Credit Access and Inclusion Act of 2025
Sponsored By: Senator Tim Scott
Introduced
Summary
Would expand credit reporting to include lease, rent, utility, and telecommunications payment information so more payment data can appear in consumer credit files. It would also limit how much utility usage data can be reported and protect consumers on payment plans from late reporting while they meet agreed terms.
Show full summary
- Would allow landlords and lease holders to furnish lease and rent payment records to consumer reporting agencies, explicitly including HUD-subsidized occupancy.
- Would let energy, utility, and telecommunications firms report consumer payment performance but restrict reporting of actual utility usage to only what relates to payment, deposits, discounts, or interruption/termination rules. It bars energy utilities from reporting a balance as late when a consumer is meeting a payment plan.
- Defines which firms may furnish this information and adjusts the Fair Credit Reporting Act liability language so the new reporting authority is encompassed by existing liability limits.
- Requires the Comptroller General to submit a report to Congress within 2 years on the impact of furnishing information under the new subsection.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
New credit reporting for rent and utilities
If enacted, this bill would let companies and HUD send lease, rent, and utility or telecom payment histories to consumer credit reporting companies. Usage data could only be shared when it is tied to payment or service terms, like deposits, discounts, or conditions for service stoppage. Energy utilities could not report a balance as late if you have a payment plan and you are meeting its terms. The bill would define which firms count as energy or utility/telecom providers. It would also say the new rule fits inside current FCRA liability limits for furnishers. A GAO report to Congress would be required within two years on the effect of these reports. The bill would take effect upon enactment.
Sponsors & CoSponsors
Sponsor
Tim Scott
SC • R
Cosponsors
Mike Rounds
SD • R
Sponsored 4/10/2025
Katie Britt
AL • R
Sponsored 4/10/2025
Kevin Cramer
ND • R
Sponsored 4/10/2025
Bernie Moreno
OH • R
Sponsored 4/10/2025
Roll Call Votes
No roll call votes available for this bill.
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