To require the Bureau of Consumer Financial Protection and the Federal Trade Commission to conduct a study on use of additional key factors in credit scoring models, and for other purposes.

# Summary of HR 5083 **What the Bill Would Do** HR 5083 would require two federal agencies—the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC)—to study how credit scoring models could incorporate additional factors beyond those currently used. Credit scores are numerical ratings lenders use to decide whether to approve loans and what interest rates to offer. This bill asks these agencies to research whether including new data points could improve how creditworthiness is evaluated. **Who It Affects** The bill would primarily affect consumers seeking loans, credit cards, mortgages, and other credit products.

It could also impact lenders and financial institutions that rely on credit scores to make lending decisions. By potentially expanding what factors are considered in credit scoring, the bill could influence who qualifies for credit and at what rates. **Current Status** HR 5083 was introduced by Representative Cleo Fields (D-LA) in the 119th Congress and is currently in committee, meaning it has not yet been debated or voted on by the full House. The bill's specific provisions beyond the study requirement are not detailed in available summaries.