HR 9380
Expanding Access to Credit through Consumer-Permissioned Data Act
TL;DR
Rep. Nikema Williams (D-GA) introduced this bill to let consumers share their own financial data (like bank account and utility payment history) with lenders to help build credit, particularly for people with thin or no credit files. It would direct federal financial regulators to establish rules encouraging lenders to use this consumer-permissioned data in credit decisions, including when AI or algorithmic underwriting models are involved.
How This Might Impact Your Business
Consumer lenders (banks, credit unions, fintechs, buy-now-pay-later providers) would be encouraged to accept alternative data like rent, utility, and bank transaction history in underwriting.
Credit scoring and AI underwriting model vendors (FICO, VantageScore, Upstart, Zest AI, etc.) would need to validate that their models can incorporate consumer-permissioned data without introducing fair lending violations.
Data aggregators like Plaid, MX, and Finicity would see expanded demand but likely face new regulatory expectations around consent, data security, and accuracy.
Fair lending compliance teams would need to test AI/ML underwriting models for disparate impact when alternative data is added, since regulators will scrutinize outcomes for protected classes.
No specific penalties or deadlines are set in the bill itself; enforcement would flow through existing regulators (CFPB, OCC, FDIC, Federal Reserve, NCUA) under ECOA and FCRA frameworks.
Small lenders and community banks could benefit from clearer rules of the road for using alternative data, potentially expanding their addressable market of thin-file borrowers.
Bill is early stage (just referred to House Financial Services Committee), so requirements are directional, not immediate.
What Should You Do
Ask your underwriting or risk team whether your current credit models can ingest consumer-permissioned data (cash flow, rent, utilities) and what validation would be required.
Have compliance review your data-sharing agreements with aggregators like Plaid or MX for consent language, data minimization, and FCRA alignment.
If you use third-party AI underwriting vendors, request documentation on how they handle alternative data and their fair lending testing methodology.
Assign someone to track HR 9380 through House Financial Services Committee markups and monitor for a Senate companion bill.
Brief your product and marketing teams on the potential to expand lending to thin-file consumers if this framework advances.
Who It Affects
Sponsors
Status Timeline
committee
Referred to the House Committee on Financial Services.
June 18, 2026