US SB1685 | 2017-2018 | 115th Congress
Status
Spectrum: Moderate Partisan Bill (Democrat 5-1)
Status: Introduced on August 1 2017 - 25% progression, died in committee
Action: 2017-08-01 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on August 1 2017 - 25% progression, died in committee
Action: 2017-08-01 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Credit Score Competition Act of 2017 This bill amends the Federal National Mortgage Association Charter Act and the Federal Home Loan Mortgage Corporation Act to allow the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac), when determining whether to purchase a residential mortgage, to consider a borrower's credit score only if certain procedural requirements are met with respect to the validation and approval of credit-scoring models. The Federal Housing Finance Agency may, by regulation, establish standards and criteria for processes used by Fannie Mae and Freddie Mac to validate and approve credit-scoring models in accordance with the bill.
Title
Credit Score Competition Act of 2017
Sponsors
Sen. Tim Scott [R-SC] | Sen. Mark Warner [D-VA] | Sen. Tim Kaine [D-VA] | Sen. Doug Jones [D-AL] |
Sen. Tammy Duckworth [D-IL] | Sen. Claire McCaskill [D-MO] |
History
Date | Chamber | Action |
---|---|---|
2017-08-01 | Senate | Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
Same As/Similar To
HB898 (Related) 2017-02-07 - Referred to the House Committee on Financial Services.
SB2155 (Related) 2018-05-24 - Became Public Law No: 115-174.
HR905 (Similar To) 2018-05-22 - Motion to reconsider laid on the table Agreed to without objection.
SB2155 (Related) 2018-05-24 - Became Public Law No: 115-174.
HR905 (Similar To) 2018-05-22 - Motion to reconsider laid on the table Agreed to without objection.
Subjects
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/115th-congress/senate-bill/1685/all-info |
Text | https://www.congress.gov/115/bills/s1685/BILLS-115s1685is.pdf |