To require the Director of the Federal Housing Finance Agency to assess the costs and benefits of requiring the enterprises obtain 2 rather than 3 credit reports and credit scores, 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 require the Director of the Federal Housing Finance Agency to assess the costs and benefits of requiring the enterprises obtain 2 rather than 3 credit reports and credit scores, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Housing, Transportation.
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 HFE25E36C5418413E9BAD7B19E0D6406A: 1. Short title This Act may be cited as the Credit Report Enhancement Directive Act or the CRED Act.
- Section HFD71F62BC6074BEC9C8D6E13E51B9BDB: 2. Analysis of costs and benefits required The Director of the Federal Housing Finance Agency shall conduct an analysis of the costs and benefits of a...
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 require the Director of the Federal Housing Finance Agency to assess the costs and benefits of requiring the enterprises obtain 2 rather than 3 credit reports and credit scores, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Housing, Transportation
Primary Purpose
This bill, To require the Director of the Federal Housing Finance Agency to assess the costs and benefits of requiring the enterprises obtain 2 rather than 3 credit reports and credit scores, 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
Ritchie Torres
D-NY | Primary Sponsor
Legislative Progress
IntroducedMr. Torres of New York (for himself and Mrs. Kim …
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?
- "federal_implementing_agencies"
- → Federal agencies assigned duties by the bill
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