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.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
This bill requires the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC) to jointly study and report to Congress on whether credit scoring models should incorporate additional types of data beyond traditional credit history. The 11 data categories being studied include brokerage account information, Buy Now Pay Later payment history, EBT transaction records, rental payments, utility payments, telecom/subscription payments, bank and credit union transactions, payroll deposits, insurance payments, property and business records, and peer-to-peer payment activity. The report is due by December 31, 2025. This is a study-only mandate and does not directly change how credit scores are calculated.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers.
At a Glance
What This Bill Does
Requires the Bureau of Consumer Financial Protection (CFPB) and the Federal Trade Commission (FTC) to conduct a joint study on the use of additional key factors in credit scoring models, including rental history, utility payments, brokerage accounts, peer-to-peer transactions, and other non-traditional data sources, and report to Congress by December 31, 2025.
Key Policy Areas
Finance, Consumer Protection
Primary Purpose
Requires the Bureau of Consumer Financial Protection (CFPB) and the Federal Trade Commission (FTC) to conduct a joint study on the use of additional key factors in credit scoring models, including rental history, utility payments, brokerage accounts, peer-to-peer transactions, and other non-traditional data sources, and report to Congress by December 31, 2025.
Policy Domains
Whole Bill - Credit Scoring Key Factors Study
Identified Gains
Contextual inference, no direct clause citation- Consumers with thin credit files (renters, gig workers, immigrants)
- Fintech companies developing alternative credit scoring
- Buy Now Pay Later (BNPL) industry
- Credit reporting agencies exploring new data sources
Contextual inference, no direct clause citation
Identified Costs
Contextual inference, no direct clause citation- CFPB (study mandate)
- FTC (study mandate)
- Consumer privacy (potential expansion of tracked financial data)
Contextual inference, no direct clause citation
Sponsors
Legislative Progress
IntroducedMr. Fields introduced the following bill; which was referred to …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_chairman"
- → Chairman of the Federal Trade Commission
- "the_director"
- → Director of the Bureau of Consumer Financial Protection
Key Definitions
Terms defined in this bill
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)).
Has the meaning given in section 609(f)(2)(B) of the Fair Credit Reporting Act (15 U.S.C. 1681g(f)(2)(B)).
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