Credit Access and Inclusion Act of 2025
The Credit Access and Inclusion Act of 2025 would amend the Fair Credit Reporting Act (FCRA) to permit, under a new full-file reporting provision, certain information about lease payments and utility/telecommunications payments to consumer reporting agencies (CRAs). The bill defines who may furnish this information (a person or HUD) and sets strict limits on what can be reported. Specifically, it allows reporting of payment performance under residential leases (including HUD-subsidized leases) and under utility/telecommunication service contracts, but only to the extent the information relates to payment for the service or the terms of provision (such as deposits or conditions for interruption). It also creates protections for consumers: a prohibition on reporting a late payment when a payment plan is in effect and being followed, and an opt-out option to prevent furnishing of this information. The bill adds the new subsection to the FCRA, broadens certain liability provisions to cover this new reporting, and requires a GAO study within two years to evaluate consumer impact and how reporting cash-flow data might affect credit scores.
Key Points
- 1Full-file reporting authorized: Adds a new subsection (f) to Section 623 of the FCRA, permitting furnishing of certain lease and utility/telecommunication payment information to consumer reporting agencies, with defined terms for energy utility firms and utility/telecommunication firms.
- 2What can be reported: Information about payments under a lease (including HUD-subsidized leases) and under contracts for utility or telecommunications services, subject to limitations. Reporting is limited to payment performance and related terms (e.g., deposits, discounts, or service interruption/termination conditions).
- 3Limitations on data: Information about normal usage of utility services can only be reported to the extent it relates to payments or terms of service (not arbitrary usage data). The reporting focuses on payment behavior and related contractual terms.
- 4Payment plans protect against late reporting: If a consumer enters into and complies with a payment plan for an outstanding utility balance, the utility firm may not report that balance as late.
- 5Consumer opt-out: Consumers may opt out of the furnishing of this information by submitting a written request to the furnisher.
- 6Liability and oversight: The bill expands liability references to include subsection (f) of Section 623 and related regulations. It also mandates a GAO study within two years to assess consumer impact and the effect of reporting cash-flow data on credit scores.