What does SHORT TITLE. of Expanding Access to Credit through Consumer-Permissioned Data Act do?

This Act is formally titled the Expanding Access to Credit through Consumer-Permissioned Data Act.

What does REQUIREMENT TO CONSIDER ADDITIONAL CREDIT INFORMATION WHEN of Expanding Access to Credit through Consumer-Permissioned Data Act do?

This section amends the Equal Credit Opportunity Act to require creditors to consider additional credit information when making mortgage loans. To trigger this requirement, an applicant must request consideration, authorize provision of the information, and state that reported credit doesn't fully reflect their creditworthiness. The additional credit information must relate to types creditors would normally consider and include current payment data like bank or rental statements. Creditors must treat this additional information similarly to information from consumer reporting agencies, unless it's deemed a material misrepresentation. Creditors are required to provide applicants with a notice explaining their right to provide additional credit information and the potential benefits. These notices must be available in the 8 most common languages spoken by individuals with limited English proficiency. The Bureau of Consumer Financial Protection's Director will establish form language for these notices. Creditors must ensure alternative data is considered during the decisioning process. Underwriting systems, including those used by federal agencies for federally backed loans, must comply with these requirements. The Bureau’s Director may issue regulations to capture consumer-permissioned data in automated underwriting systems, consulting with other agencies.

Back to bills

Expanding Access to Credit through Consumer-Permissioned Data Act

Q: What does Preamble of Expanding Access to Credit through Consumer-Permissioned Data Act do?

This bill amends the Equal Credit Opportunity Act. The proposed amendment requires creditors to consider additional credit information when making mortgage loans.

Q: What does FINDINGS. of Expanding Access to Credit through Consumer-Permissioned Data Act do?

This section outlines findings related to the use of alternative data in mortgage lending. It notes that alternative data can potentially increase credit access for individuals with limited or no credit history. Approximately 32 million consumers lack sufficient credit history with national credit reporting agencies, disproportionately affecting low-income, younger, and minority consumers. Using alternative data may assist lenders in meeting Community Reinvestment Act goals. Mortgage underwriting systems that incorporate consumer-permissioned alternative credit information could expand mortgage access for borrowers with lower credit scores and communities of color. Fannie Mae has updated its automated underwriting system to consider rental payment information, with consumer permission, potentially benefiting applicants with lower credit scores, who are often consumers of color.

Last updated: 6/18/2026 · Introduced: 6/18/2026

Author: Nikema Williams (D-GA)

TL;DR (AI)

This bill amends the Equal Credit Opportunity Act to require mortgage lenders to consider additional consumer-permissioned credit information when requested by an applicant.
The bill mandates that creditors provide applicants with notices, in multiple languages, explaining their right to submit additional credit data and its potential benefits.
Underwriting systems for federally backed loans must incorporate consumer-permissioned alternative credit information, and the Bureau of Consumer Financial Protection will establish form language and regulations to facilitate this process.

119th Congressin committeeOfficial page

Verified Votes

No verified votes yet.

Community Votes

No community votes yet. Be the first!

Voting as guest · Sign in for verified votes

Other Sections

Includes provisions on preamble, short title., and 2 more.

4 sections

Click "Show details" to explore individual sections. Use the community vote above or visit All Sections to vote per section.

Read official text

Want the full experience?

Create a free account to cast verified votes on each section, get a personalized summary, and track your voting history.

Create Free Account