Credit Access and Inclusion Act of 2025
The Credit Access and Inclusion Act of 2025 would amend the Fair Credit Reporting Act to explicitly permit the reporting of certain positive consumer credit information to consumer reporting agencies. Specifically, it authorizes reporting of on-time rent payments under leases (including HUD-subsidized leases) and payments for utility or telecommunications services. The measure defines what counts as an energy utility firm and a utility/telecommunication firm, and sets limits on what utility payment information can be reported. It also bars reporting a utility bill as late if the consumer is on a qualifying payment plan and has been meeting its obligations. Additionally, the bill broadens liability protections to cover the new reporting provisions and requires a GAO assessment within two years of enactment to evaluate the impact on consumers. In short, the bill seeks to expand credit reporting beyond traditional loan and credit card payments to include timely rent and utility payments, with certain protections and oversight to monitor effects on consumers.
Key Points
- 1Positive reporting expanded: Adds “full-file credit reporting” for rent payments (including HUD-subsidized leases) and payments for utility or telecommunications services to consumer reporting agencies.
- 2New definitions: Establishes definitions for “energy utility firm” (gas or electric providers) and “utility or telecommunication firm” (entities providing utility services via pipe, wire, wireless, cable, or similar transmission, including related facilities).
- 3Reporting limitations for utilities: Allows reporting of utility payment information only to the extent it relates to payment for the service or other terms (deposits, discounts, termination conditions). This aims to avoid exposing unrelated usage data.
- 4Prohibition on late reporting during payment plans: An energy utility firm cannot report a payment as late if the consumer is on a compliant payment plan (e.g., deferred payment agreements, arrearage management, or debt forgiveness programs) and meeting the plan obligations.
- 5Liability and oversight: Amends liability provisions to include the new reporting subsection, ensuring coverage under existing safeguards; requires a GAO study within 2 years of enactment to assess the impact on consumers.