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- H.R.3629
H.R.3629: Clarity in Credit Score Formation Act of 2019
About This Bill
- Introduced July 9, 2019
- Latest Major Action Nov. 21, 2019
- See the one similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsor
Bill Versions
- Reported in House - Nov. 21, 2019
- Introduced in House - July 9, 2019
Bill Summary
Clarity in Credit Score Formation Act of 2019 This bill provides that the Consumer Financial Protection Bureau (CFPB) must regulate credit score models by establishing standards for validating the accuracy and predictive value of these models. The bill also gives the CFPB the authority to prohibit the use of certain factors in credit score models. The CFPB must report on the impact of the inclusion of nontraditional data in these models.
(Source: Library of Congress)
What Lawmakers Are Saying About This Bill
Congressional Budget Office Estimate
Bill Actions
Date | Description |
---|---|
Nov. 21, 2019 |
Placed on the Union Calendar, Calendar No. 248.
|
Nov. 21, 2019 |
Reported (Amended) by the Committee on Financial Services. H. Rept. 116-307.
|
July 16, 2019 |
Ordered to be Reported (Amended) by the Yeas and Nays: 33 - 25.
|
July 16, 2019 |
Committee Consideration and Mark-up Session Held.
|
July 9, 2019 |
Referred to the House Committee on Financial Services.
|
July 9, 2019 |
Introduced in the House by Stephen F. Lynch (D-Mass.) |