Expanding Access to Credit through Consumer-Permissioned Data Act

Current understanding

HR 9380 (119th Congress) would allow consumers to affirmatively permission their own financial account data for use by lenders and credit decisioning systems, aiming to expand access to credit — particularly for thin-file or no-file consumers — by enabling alternative data (e.g., cash-flow, deposit history) in underwriting. The bill was introduced and referred to the House Committee on Financial Services; no markup or floor action has occurred. Sits alongside broader open-banking / Section 1033 consumer data rights debates.

Evidence log

• 2026-07-09 — Request for Information Regarding Promoting Access to Mortgage Credit: Related regulatory direction: CFPB RFI on promoting access to mortgage credit seeks comment on scaling back TRID, rescission, and reverse mortgage disclosure burdens — a parallel ‘expand credit access via regulatory relief’ thread, though focused on disclosure burden rather than alternative data. (novelty: 2)
• 2026-06-18 — Expanding Access to Credit through Consumer-Permissioned Data Act: cross-connection with credit-access-inclusion-act: Both bills aim to broaden credit access for underserved/thin-file consumers — one via alternative rental/utility data furnishing, the other via consumer-permissioned financial account data. (novelty: 2)

Open questions

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