U.S. Representative Ed Royce (R-Calif.) questioned witnesses on two of his legislative proposals to protect and bolster consumer access to credit during a Financial Institutions and Consumer Credit Subcommittee hearing entitled “Examining Legislative Proposals to Address Consumer Access to Mainstream Banking Services.” The Subcommittee considered H.R. 347, the Facilitating Access to Credit Act, and H.R. 4211, the Credit Score Competition Act.
“I’m in Southern California and we have one of the highest costs of living in the country — access to credit is really vital in our communities to the well-being of a family. The difference between good credit and bad credit is the ability to purchase a home out in California, or it’s the ability to actually own your car, or pay for a college education. This legislation that we are looking at here, H.R. 347, the Facilitating Access to Credit Act, would ensure that consumers access to credit education services isn’t choked off by lumping them in with credit repair scam artists. In the digital age, the American people should have more tools at their disposal, not less. H.R. 4211, the Credit Score Competition Act, my other bill here, opens up the GSEs to alternative …read more
Source:: U.S. Rep. Ed Royce