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116-hr-3629116th Congress

Clarity in Credit Score Formation Act of 2019

Sponsored By: Representative Lynch, Stephen F. [D-MA-8]

Unknown

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.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Lynch, Stephen F. [D-MA-8]

MA • D

Cosponsors

  • Rep. Cleaver, Emanuel [D-MO-5]

    MO • D

    Sponsored 7/17/2019

Roll Call Votes

No roll call votes available for this bill.

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