Increasing access to credit and opportunity

Senator Tim Scott, South Carolina Republican, and Senator Joe Manchin, West Virginia Democrat, re-introduced the Credit Access and Inclusion Act of 2021 to expand access to credit for an estimated 45 million Americans with either no credit history or a credit history that’s too scarcely populated to generate a credit score.  The legislation would permit landlords and utility and telecom providers to report on-time payment data to credit reporting agencies, to give consumers the chance to develop a positive history with a track record of paying bills on time.  “Too many Americans are denied the opportunities to build wealth through buying a home or car, or taking out a loan for school, because they don’t have a credit score,” said Senator Scott. “If you pay your bills on time, you should be able to build credit–simple as that.  We must remove the barriers too opportunity by fixing a broken system that currently locks out millions of people in South Carolina and across the country.”