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.

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5083 Introduced in House (IH)]

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119th CONGRESS
  1st Session
                                H. R. 5083

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.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 2, 2025

  Mr. Fields introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
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.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. STUDY ON USE OF ADDITIONAL KEY FACTORS IN CREDIT SCORING 
              MODELS.

    (a) In General.--Not later than December 31, 2025, the Director of 
the Bureau of Consumer Financial Protection and the Chairman of the 
Federal Trade Commission shall jointly submit to Congress a report on--
            (1) the use of credit scoring models that include 
        consideration of key factors described in subsection (b); and
            (2) how such models affect the ways in which a creditor 
        evaluates the creditworthiness of a consumer.
    (b) Key Factors.--The key factors described in this subsection are 
as follows:
            (1) Brokerage account statements.
            (2) Payment history for installment contracts, such as 
        ``Buy Now, Pay Later'' installment contracts.
            (3) Electronic benefit transfer system (as defined in 
        section 904(d)(2)(A)(i) of the Electronic Fund Transfer Act (15 
        U.S.C. 1693b(d)(2)(A)(i))) transaction records.
            (4) Rental payment history.
            (5) Utility payment history.
            (6) Telecom and subscription-service payment history.
            (7) Transaction data from depository institution (as 
        defined in section 3(a) of the Federal Deposit Insurance Act 
        (12 U.S.C. 1813(a))) and credit union accounts.
            (8) Payroll deposit or data on the frequency with which an 
        employee makes deposits to an account of a consumer.
            (9) Payment history for insurance.
            (10) Public record data relating to property ownership, 
        business licenses, and court filings relating to assets or real 
        property.
            (11) Peer-to-peer financial transaction activity.
    (c) Definitions.--In this Act:
            (1) Credit scoring model.--The term ``credit scoring 
        model'' means a model for developing a credit score (as defined 
        in section 609(f)(2)(A) of the Fair Credit Reporting Act (15 
        U.S.C. 1681g(f)(2)(A))).
            (2) Key factor.--The term ``key factor'' has the meaning 
        given in section 609(f)(2)(B) of the Fair Credit Reporting Act 
        (15 U.S.C. 1681g(f)(2)(B)).
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