Congressman Keith Ellison

Representing the 5th District of Minnesota

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Reps. Ellison, Pittenger Introduce Bipartisan Credit Access and Inclusion Act

Jan 11, 2017
Press Release

Rep. Keith Ellison (D-MN) and Rep. Robert Pittenger (R-NC) today introduced the Credit Access and Inclusion Act of 2017 (H.R. 435), which would allow for a more thorough, fair evaluation of an individual’s credit worthiness.

“Millions of Americans lack credit scores or have scores that are too low to gain access to affordable credit,” Rep. Ellison said. “The problem disproportionately affects young people, African-Americans, Latinos and immigrants, many of whom can't establish a credit score without taking on debt. Congress should give companies permission to thicken credit reports with predictive alternative data, like payments on gas, water, electric, heating oil, cable TV, broadband, wireless cellphone bills and rent payments.”

“We want to give every American the ability to build a better life,” Rep. Pittenger said. “This bipartisan legislation will help hardworking Americans build their credit score on their own merit, without federal funds or new bureaucracy.  Many hardworking Americans have been shut out when it comes to access to affordable credit, and I am honored to help these families by supporting legislation which creates a level playing field and increases economic opportunity.”

The bipartisan Credit Access and Inclusion Act (H.R. 435) would allow utility and telecom companies and landlords to report on-time payment data to credit reporting agencies—helping those with little to no credit build their credit scores based on a full picture of their payment history. In the 114th Congress, H.R. 4172 had 35 cosponsors and a legislative hearing in the Financial Services Committee. The bill is cosponsored by Reps. Carolyn Maloney (D-NY), Sean Duffy (R-WI), Al Green (D-TX), Steve Stivers (R-OH), Gregory Meeks (D-NY), Mia Love (R-UT), Michael Capuano (D-MA), Jim Renacci (R-OH), Gwen Moore (D-WI), Walter Jones (R-NC), John Conyers (D-MI), Raúl M. Grijalva (D-AZ), and Jan Schakowsky (D-IL).

Nearly 100 million Americans would be able to establish a credit score, or raise their existing score with the implementation of this legislation. People who lack credit accurate scores face significant economic harm. Those with no or insufficient credit history are considered high risk, and can be rejected when they apply for credit.  People with no credit score can also pay higher rates for car and homeowners’ insurance.