H.R.9380

Expands access to credit by requiring creditors to consider consumer-permissioned alternative credit information when making mortgage loans.

The Expanding Access to Credit through Consumer-Permissioned Data Act amends the Equal Credit Opportunity Act to require creditors to consider additional credit information when making mortgage loans. This includes information such as bank statement data and rental payment information, provided the applicant requests and authorizes its use. The bill aims to expand access to credit for borrowers with lower credit scores and communities of color.