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Main Subject: Finance and financial sector

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.

Categories

Administrative law and regulatory procedures Banking and financial institutions regulation Business records Computer security and identity theft Congressional oversight Consumer Financial Protection Bureau Consumer credit Credit and credit markets Government information and archives Government studies and investigations Immigration status and procedures Low- and moderate-income housing Minority and disadvantaged businesses Racial and ethnic relations Refugees, asylum, displaced persons Right of privacy Rural conditions and development Sex, gender, sexual orientation discrimination Urban and suburban affairs and development Refugees asylum displaced persons Sex gender sexual orientation discrimination Finance and financial sector

House floor actions Actions

Calendars
Nov. 21 2019	Placed on the Union Calendar, Calendar No. 248.

Committee
Nov. 21 2019	Reported (Amended) by the Committee on Financial Services. H. Rept. 116-307.

IntroReferral
Jul. 09 2019	Referred to the House Committee on Financial Services.

Library of Congress Actions

Committee
Nov. 21 2019	Reported (Amended) by the Committee on Financial Services. H. Rept. 116-307.

IntroReferral
Jul. 09 2019	Introduced in House Introduced in House

House committee actions Actions

Committee
Jul. 16 2019	Ordered to be Reported (Amended) by the Yeas and Nays: 33 - 25. Committee Consideration and Mark-up Session Held.

House bill HR3629-116

Clarity in Credit Score Formation Act of 2019

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