Today’s Financial Services Mark-up Includes Credit Reporting, Housing, Diversity and Accountability Bills

The House Financial Services Committee today will markup a number of bills that seek to address issues related to the credit reporting, housing, and diversity and accountability.

Among the bills scheduled for markup are:

  • Ensuring Diverse Leadership Act (H.R. 281) which would help ensure that Federal Reserve Banks interview candidates reflective of gender and racial or ethnic diversity when appointing Federal Reserve presidents.
  • Homebuyer Assistance Act (H.R. 2852) which would improve the process for getting appraisals for Federal Housing Administration-backed mortgages.
  • Free Credit Scores for Consumers Act (H.R. 3618) which would provide consumers with free access to credit scores and "should help consumers' understanding of the credit process and their credit standing."
  • Restricting Use of Credit Checks for Employment Decisions Act (H.R. 3614) which would restrict the use of credit checks when considering applicants for employment.
  • Clarity in Credit Score Formation Act (H.R. 3629) which could increase the CFPB's involvement in establishing regulations for credit scoring models that could hinder or create new loan underwriting burdens.
  • Improving Credit Reporting for All Consumers Act (H.R. 3642) which could put onerous new burdens on community institutions such as credit unions, and potentially open the door to frivolous disputes and other abuses of the system that could overwhelm smaller institutions.