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WASHINGTON – Congressman Robert Pittenger (R-NC) and Congressman Keith Ellison (D-MN) today introduced the bipartisan Credit Access and Inclusion Act, designed to give hardworking Americans better access to affordable credit and more opportunities to build their credit score on their own merit.

“We want to give every American the ability to build a better life,” said Congressman Pittenger. “This bipartisan legislation will help hardworking Americans build their credit score on their own merit, without federal funds or new bureaucracy. Many hardworking Americans have been shut out when it comes to access to affordable credit, and I am honored to help these families by supporting legislation which creates a level playing field and increases economic opportunity.”

“Millions of Americans lack credit scores or have scores that are too low to gain access to affordable credit,”said Congressman Ellison. “The problem disproportionately affects young people, African-Americans, Latinos, and immigrants, many of whom can’t establish a credit score without taking on debt. Congress should give companies permission to thicken credit reports with predictive alternative data, like payments on gas, water, electric, heating oil, cable TV, broadband, wireless cellphone bills, and rent payments.”

The bipartisan Credit Access and Inclusion Act (H.R. 435) would allow utilities, telecom companies, and landlords to report on-time payment data to credit reporting agencies, enabling families with little or no credit to build credit scores based on a full and more appropriate picture of their payment history.

Those with little or no credit history are considered high risk and can be rejected when they apply for credit, and also pay higher rates for car and homeowner’s insurance. Congressmen Pittenger and Ellison’s bipartisan legislation would enable nearly 100 million Americans to establish a credit score, or raise their existing score, on their own merit and without federal mandates.