Expanding Access to Credit through Consumer-Permissioned Data...
To amend the Equal Credit Opportunity Act to require creditors to consider certain additional credit information when making mortgage loans, and for other purposes.
HB9380, also known as the Expanding Access to Credit through Consumer-Permissioned Data Act, aims to update the Equal Credit Opportunity Act. It seeks to require creditors, such as banks, to consider additional credit information when evaluating mortgage loan applications. This information would be provided by consumers who have given their permission.
This bill would mainly affect people applying for mortgage loans. By considering more credit information, it hopes to offer fairer and more accurate credit assessments, potentially helping more individuals secure home loans. The additional data could include income from sources not typically reported on standard credit reports, such as gig economy earnings or freelance work.
HB9380 was introduced on June 18, 2026, and referred to the House Committee on Financial Services. It is currently in its initial stages, with no further actions recorded yet.
