US Congress House Bill 4211 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on December 10 2015 - 25% progression, died in chamber
Action: 2016-09-27 - Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
Text: Latest bill text (Introduced) [PDF]

Credit Score Competition Act of 2015 This bill amends the Federal National Mortgage Association Charter Act to authorize the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (government sponsored enterprises, or GSEs) to use credit scores in purchasing residential mortgages only under certain conditions, including that the GSE has established and made publicly available a description of the process it will use to validate and approve credit scoring models. The Director of the Federal Housing Finance Agency may, by regulation, establish standards and criteria for any process used by a GSE to validate and approve credit scoring models pursuant to the Acts.

Credit Score Competition Act of 2015

Rep. Edward Royce [R-CA]	Rep. Terri Sewell [D-AL]	Rep. James Himes [D-CT]	Sen. Kyrsten Sinema [I-AZ]
Rep. Robert Pittenger [R-NC]	Rep. Gregory Meeks [D-NY]	Rep. Mimi Walters [R-CA]	Rep. Mike Coffman [R-CO]
Rep. Scott Tipton [R-CO]

Date	Chamber	Action
2016-09-27	House	Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
2015-12-10	House	Referred to the House Committee on Financial Services.
2015-12-10	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/house-bill/4211/all-info
Text	https://www.congress.gov/114/bills/hr4211/BILLS-114hr4211ih.pdf