01 — The Text
What.
- Allows lenders to consider alternative financial data—like utility, rent, and phone payments—when evaluating creditworthiness.
- Broadens credit scoring to include non-traditional payment history beyond standard bank and credit card records.
- Aims to help people without extensive credit histories access loans and credit products.
02 — The Stakes
So what?
- Unbanked and underbanked Americans gain pathways to credit; lenders access larger applicant pools with new risk data.
- Potential winners: people with thin credit files or poor credit histories. Potential tension: lenders absorb new evaluation costs and data risks.
- Low-income and minority households disproportionately benefit, as they're underrepresented in traditional credit systems.
03 — The Path
Now what?
- Bill passed House Financial Services Committee (28-23, June 2026) but full House floor vote not yet scheduled.
- Next hurdle: House floor debate and vote, then Senate review if passed; detailed mechanics still unavailable from CRS.
- Contact your representative to signal support or opposition before floor vote.
Legislative History
Actions.
- Jun 30, 2026 — Ordered to be Reported (Amended) by the Yeas and Nays: 28 - 23.
- Jun 30, 2026 — Committee Consideration and Mark-up Session Held
- Sep 16, 2025 — Referred to the House Committee on Financial Services.
- Sep 16, 2025 — Introduced in House
- Sep 16, 2025 — Introduced in House