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October 16, 2023

Senate Republicans press FHFA on credit scoring reform

Sen. Tim Scott speaks during a Senate Banking Committee hearing.

Republican lawmakers on the Senate Banking Committee urged a top federal housing regulator to adjust its implementation of a 2018 law reforming certain credit score practices.

The letter, led by Sen. Tim Scott (R-S.C.), is mostly an attempt to steer the Federal Housing Finance Authority away from a change to how Fannie Mae and Freddie Mac determine credit worthiness.

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