arrow_back Back to App

New rules for reporting rent and utility payments to credit bureaus.

This act allows energy, telecommunication firms, and landlords to report on-time rent and utility payments to credit bureaus. This can help individuals without a credit history build one, but also impact credit scores if payments are late. The act protects consumers with payment plans from negative reporting by energy utility firms.
Key points
Energy utility firms, telecommunication firms, and landlords can now report on-time rent and utility payments to credit reporting agencies, potentially helping to build credit history.
Information about utility payments can only be reported regarding payment performance, not service usage.
Energy utility firms cannot report late payments if a consumer has an active payment plan and is meeting its obligations.
A study on the impact of these changes on consumers will be conducted within two years.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_S_2417
Sponsor: Sen. Scott, Tim [R-SC]
Process start date: 2021-07-21
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Credit Access and Inclusion Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_2417.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-07-21.

What are the main provisions?

Key points include:

  • Energy utility firms, telecommunication firms, and landlords can now report on-time rent and utility payments to credit reporting agencies, potentially helping to build credit history.
  • Information about utility payments can only be reported regarding payment performance, not service usage.
  • Energy utility firms cannot report late payments if a consumer has an active payment plan and is meeting its obligations.
  • A study on the impact of these changes on consumers will be conducted within two years.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Scott, Tim [R-SC].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Economy Real Estate