Establishes the "Credit Fairness and Financial Opportunity Act" to regulate consumer loan denials in Missouri.

The "Credit Fairness and Financial Opportunity Act" mandates that lenders in Missouri cannot deny a consumer loan application solely based on a numerical credit score. Instead, lenders must conduct an individualized ability-to-pay analysis. This analysis includes factors such as verified income, debt-to-income ratio, and payment history. The act also prohibits certain practices, such as using minimum credit score cutoffs as the sole basis for denials.

Establishes the "Credit Fairness and Financial Opportunity Act" to regulate consumer loan denials in Missouri.

The "Credit Fairness and Financial Opportunity Act" mandates that lenders in Missouri cannot deny a consumer loan application solely based on a numerical credit score. Instead, lenders must conduct an individualized ability-to-pay analysis. This analysis includes factors such as verified income, debt-to-income ratio, and payment history. The act also prohibits certain practices, such as using minimum credit score cutoffs as the sole basis for denials.