119 HR 5083 IH: 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. U.S. House of Representatives 2025-09-02 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I119th CONGRESS1st SessionH. R. 5083IN THE HOUSE OF REPRESENTATIVESSeptember 2, 2025Mr. Fields introduced the following bill; which was referred to the Committee on Financial ServicesA BILLTo 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.

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)).