Expanding Access to Credit through Consumer-Permissioned Data Act
Sponsored By: Representative Williams, Nikema [D-GA-5]
Introduced
Summary
Requires creditors to consider consumer-permissioned alternative credit data when evaluating mortgage applications. This would let applicants ask lenders to use bank statements, rental payments, and other transaction data to show creditworthiness when traditional credit reports fall short.
Show full summary
- Families and borrowers: Would let people with thin or nontraditional credit histories submit rental payments, bank transactions, and similar records to support a mortgage application.
- Lenders and underwriting systems: Would require creditors to weigh that alternative data the same as credit bureau information unless regulators find a material misrepresentation, and automated underwriting must be able to accept it.
- Regulators and notices: The Consumer Financial Protection Bureau would provide standardized notice language in the eight most common limited-English languages and must issue final rules within 18 months, working with housing and federal mortgage agencies.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
More mortgage data you control
You would be able to ask a mortgage lender to consider extra credit information that is not in credit reports. To use this, you must request consideration, authorize sharing, and say that credit-report data does not fully reflect your creditworthiness. Examples include recent bank statements, rental payment records, or other current transaction information. Lenders and automated underwriting systems would have to treat that information like credit-report data unless they reasonably determine it is a material misrepresentation under CFPB rules. The CFPB would have to issue final rules within 18 months of enactment, lenders would provide a standardized notice (including examples and benefits) in the eight most common limited-English languages, and the requirements would apply when those rules take effect.
Sponsors & CoSponsors
Sponsor
Williams, Nikema [D-GA-5]
GA • D
Cosponsors
Rep. Garcia, Sylvia R. [D-TX-29]
TX • D
Sponsored 6/18/2026
Rep. Watson Coleman, Bonnie [D-NJ-12]
NJ • D
Sponsored 6/18/2026
Rep. Adams, Alma S. [D-NC-12]
NC • D
Sponsored 6/18/2026
Rep. Moore, Gwen [D-WI-4]
WI • D
Sponsored 6/18/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov