HR 3629 · 116th Congress · Finance and Financial Sector

Clarity in Credit Score Formation Act of 2019

Introduced 2019-07-09· Sponsored by Rep. Lynch, Stephen F. [D-MA-8]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Placed on the Union Calendar, Calendar No. 248.(2019-11-21)

Plain Language Summary

[AI summary unavailable — showing source text] 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.…

Summarized by Claude AI · Non-partisan · For informational purposes only

CBO Cost Estimate

Congressional Budget Office

H.R. 3629, Clarity in Credit Score Formation Act of 2019

Oct 7, 2019

As ordered reported by the House Committee on Financial Services on July 16, 2019

Full CBO report ↗

Official non-partisan budget analysis by the Congressional Budget Office

Cosponsors (1)

1 Democrat
Rep. Cleaver, Emanuel [D-MO-5]MO