Bill to Help Low Income Tenants Build Credit Approved by House

Credit Access and Inclusion Act Has Pros and Cons According to Housing Advocates

On June 25, 2018, the U.S. House of Representatives passed the “Credit Access and Inclusion Act of 2017” (H.R.435) on a voice vote. This bill was introduced by U.S. Representative Keith Ellison (D-MN-5.). The bill amends to the Fair Credit Reporting Act. Congresswoman Bonnie Watson Coleman was a co-sponsor of the bill.

This new bipartisan bill allows landlords, public housing authorities (PHAs), and utility and telecom companies to report on-time payment data. Usually, these actors only provide negative data to credit reporting agencies, which ultimately harms low income tenants and the working poor.

  • The bill aims to help those with little to no credit establish better credit scores based on a more complete history of their previous payments.
  • It will make their credit scores more comprehensive and ultimately help them with loans, finding stable housing, and other financial matters. PHAs will have the opportunity to submit these more comprehensive reports on a monthly basis.
  • Although the bill seems very positive to the average onlooker, some housing advocates have voiced concerns. Some of these advocates are worried about violating the privacy of low income tenants through this new bill.
  • Further, PHAs will have to implement these new requirements without any additional funding.
  • This could take away funds from existing housing programs.

If you are concerned about the financial situations of low income tenants,, you should attend the July 25th, a Congressional Reception will be held at the Dirksen Senate Auditorium in Washington D.C. This event will allow New Jersey residents who are working poor, below the poverty line and or impacted by homelessness to urge their elected officials in Washington to make No Cuts to Housing and remind them that Opportunity Starts at Home.

We know that by joining together and amplifying our voices, we can have an impact on the decisions that are made in Washington DC. Join Monarch Housing Associates and our 35 partners from New Jersey to make the case that homelessness is a solvable problem. The federal government must be a full partner in ensuring an adequate breadth of services are available to prevent children, people with disabilities, the elderly, and all of our neighbors in NJ from experiencing the homelessness.

Register today to attend the Congressional Reception. Everyone needs to register even if you are traveling on your own.

Click here for more information about the Congressional Reception.

You can also follow @OppStartsatHome in order to learn more about the National Low Income Housing Coalition’s Opportunity Starts at Home Campaign.

Follow the event with these hashtags

Credit Access and Inclusion Act of 2017

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