Bill117th CongressFiled Jun 24, 2021Finance and Financial Sector
H.R. 4112
Clarity in Credit Score Formation Act of 2021
Bill journey · stage 2 of 5
Under committee review
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CommitteeComm.
PassedFloor
Both ChambersBoth
Became LawLaw
What it doesSummary introduced in house (Jun 24, 2021)
Clarity in Credit Score Formation Act of 2021
This bill requires the Consumer Financial Protection Bureau (CFPB) to 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.
What just happenedJun 24, 2021
Referred to the House Committee on Financial Services.
Who’s behind it
Rep. Lynch, Stephen F. [D-MA-8](D-MA)Sponsor
1committees3actions1related bills
- Introduced in HouseJun 24, 2021
- Jun 24, 2021IntroReferralH11100
Referred to the House Committee on Financial Services.
Financial Services Committee - Jun 24, 2021IntroReferralIntro-H
Introduced in House
- Jun 24, 2021IntroReferral1000
Introduced in House