Why it Matters
The House Financial Services Committee is set to vote on two bills Tuesday, June 30 that would reshape how consumer payment data flows into credit reports. One measure tightens accuracy rules for companies that resell credit information, the other would let landlords, utilities, and telecom providers report on-time payments to credit bureaus.
Together, they signal a bipartisan push to expand credit access for millions of Americans, while also policing data quality in a sprawling credit reporting ecosystem. For example, the Consumer Financial Protection Bureau has flagged credit repair outfits and social media influencers for gaming the complaint system with AI tools to dispute accurate information. These two bills aim to address both opportunities and risks in credit reporting.
Bills Target Credit Data Accuracy
H.R. 8141, the Fair Credit Reporting Reseller Accuracy Act, would impose new obligations on companies that buy and resell consumer credit reports. Under the bill, resellers must implement reasonable procedures to ensure maximum possible accuracy before passing information along to customers or other resellers. The measure includes a liability shield for resellers who accurately transmit information exactly as received from the original credit reporting agency. This addresses a gap in current law where inaccurate data can cascade through the system with limited accountability.
H.R. 5402, the Credit Access and Inclusion Act of 2025, would expand which entities can report payment data to credit bureaus. Utility companies, telecommunications providers, landlords, and the Department of Housing and Urban Development would gain express authority to report on-time payment histories. The bill allows consumers to opt out and protects those adhering to payment plans from being marked delinquent. It also requires the Government Accountability Office to study the impact on credit scores and financial well-being within two years.
Bipartisan Sponsorship
Both bills feature cross-party backing from committee members. H.R. 8141 is sponsored by Rep. Michael Lawler and cosponsored by Reps. Josh Gottheimer, Daniel Meuser, and Ann Wagner. H.R. 5402 is sponsored by Rep. Young Kim and cosponsored by Reps. Janelle Bynum and Eugene Simon Vindman.
The Consumer Data Industry Association has lobbied on both bills. Experian North America has engaged on H.R. 5402. The presence of industry advocacy suggests negotiations over implementation details may continue.
Hearing Details
Rep. French Hill chairs the committee, with Rep. Bill Huizenga as vice chair. Rep. Maxine Waters is the ranking minority member, and Rep. Sean Casten serves as vice ranking member.
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