To amend the Equal Credit Opportunity Act to require creditors to consider certain additional credit information when making mortgage loans, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To amend the Equal Credit Opportunity Act to require creditors to consider certain additional credit information when making mortgage loans, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Housing, Government Operations.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section H5B9BFDDDFED842518D04255186F83EEF: 1. Short title This Act may be cited as the Expanding Access to Credit through Consumer-Permissioned Data Act.
- Section HC32906B339AB4288B7A03ABA98C3FD65: 2. Findings The Congress finds the following: Using alternative data in mortgage lending (either through alternative credit scores or in underwriting) has the...
- Section HAE859D1383CA4BDFB2176BA740A2BD75: 3. Requirement to consider additional credit information when making mortgage loans The Equal Credit Opportunity Act (15 U.S.C. 1691 et seq.) is amended by...
- Section HBBAE2C2508A94EF290BFED8303F70C0E: 701A. Requirement to consider additional credit information when making mortgage loans A creditor extending a mortgage loan shall, in evaluating the...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To amend the Equal Credit Opportunity Act to require creditors to consider certain additional credit information when making mortgage loans, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Housing, Government Operations
Primary Purpose
This bill, To amend the Equal Credit Opportunity Act to require creditors to consider certain additional credit information when making mortgage loans, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Sponsors
Legislative Progress
IntroducedMs. Williams of Georgia (for herself, Ms. Norton, Mrs. Ramirez, …
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Mortgage lenders, Mortgage lenders and creditors
Borrowers with limited credit history, Credit-invisible consumers and thin-file borrowers
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "secretary_of_housing_and_urban_development"
- → Secretary of Housing and Urban Development
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology