Credit Score Competition Act of 2015
Bill journey · stage 1 of 5
Just introduced
What it doesSummary introduced in house (Dec 10, 2015)
Credit Score Competition Act of 2015
This bill amends the Federal National Mortgage Association Charter Act to authorize the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (government sponsored enterprises, or GSEs) to use credit scores in purchasing residential mortgages only under certain conditions, including that the GSE has established and made publicly available a description of the process it will use to validate and approve credit scoring models.
The Director of the Federal Housing Finance Agency may, by regulation, establish standards and criteria for any process used by a GSE to validate and approve credit scoring models pursuant to the Acts.
What just happenedSep 27, 2016
Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
Who’s behind it
- Introduced in HouseDec 10, 2015
- Sep 27, 2016Committee
Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
Consumer Protection and Financial Institutions Subcommittee - Dec 10, 2015IntroReferralH11100
Referred to the House Committee on Financial Services.
Financial Services Committee - Dec 10, 2015IntroReferralIntro-H
Introduced in House
- Dec 10, 2015IntroReferral1000
Introduced in House