S. 1465: Credit Access and Inclusion Act of 2025

The Credit Access and Inclusion Act of 2025 is a proposed piece of legislation aimed at amending the Fair Credit Reporting Act. The main goals of the bill are to improve access to credit for consumers and include more positive payment information in credit reports, which could help individuals with limited credit histories. Here are the key components of the bill:

Positive Credit Reporting

The bill allows for the reporting of positive payment information related to:

• Lease Agreements: Information regarding payments made under lease agreements for housing.
• Utility Services: Payments for services provided by utility firms (like electricity or gas) and telecommunication services (like phone or internet).

This means that if a consumer consistently pays their rent or utility bills on time, this information can be submitted to credit reporting agencies and could assist in building their credit history positively.

Limitations on Information Reporting

The bill specifies that:

• Only payment-related information can be reported. This includes:
  • Timeliness of payments
  • Relevant terms of service agreements
  • Conditions for interruption or termination of services
• Utilities or telecom firms cannot report a consumer's account as late if they have entered into a payment plan and are adhering to it.

Liability Protections

The bill also adds protections for entities that report this positive payment information. It establishes that these entities will have limited liability regarding the accuracy of the information they provide to credit reporting agencies, as long as they comply with the new reporting requirements.

Study and Reporting Requirement

Within two years of the bill's enactment, the Government Accountability Office (GAO) is required to conduct a study and report on how the new provisions impact consumers, particularly those who are traditionally underserved in accessing credit.

Conclusion of Key Elements

Overall, this legislation seeks to expand the types of positive consumer payment information that can be reported to help improve access to credit, particularly for those who may not have traditional credit histories, thereby potentially enhancing the creditworthiness of many American consumers.

Relevant Companies

• DUK - Duke Energy: As a major utility provider, Duke Energy could be impacted by changes in how they report payment information for consumers and how that may affect customer relations and payments.
• NEE - NextEra Energy: Similarly, NextEra Energy may face changes in reporting requirements that could influence their billing processes and customer credit interactions.
• CMCSA - Comcast: As a telecommunications provider, Comcast would also be affected by these regulations in terms of how they report customer payment histories.