Missouri legislation · 2026 Regular Session
Missouri HB3187: Establishes the "Credit Fairness and Financial Opportunity Act"
Status: In committee, May 15, 2026
What the bill says
To amend chapter 408, RSMo, by adding thereto one new section relating to consumer loans, with penalty provisions. Section A. Chapter 408, RSMo, is amended by adding thereto one new section, to be known as section 408.900, to read as follows: 408.900. 1. This section shall be known and may be cited as the "Credit Fairness and Financial Opportunity Act". 2. For purposes of this section, the following terms mean: (1) "Ability-to-pay factors", information demonstrating a consumer's capacity to repay including, but not limited (b) Employment history; (c) Debt-to-income ratio; (d) Rental, utility.
From the introduced text:
To amend chapter 408, RSMo, by adding thereto one new section relating to consumer loans, with penalty provisions. Section A. Chapter 408, RSMo, is amended by adding thereto one new section, to be known as section 408.900, to read as follows: 408.900. 1. This section shall be known and may be cited as the "Credit Fairness and Financial Opportunity Act". 2. For purposes of this section, the following terms mean: (1) "Ability-to-pay factors", information demonstrating a consumer's capacity to repay including, but not limited (b) Employment history; (c) Debt-to-income ratio; (d) Rental, utility, insurance, and other payment history; (e) Explanation of negative credit events; and (f) Extenuating circumstances such as medical hardship, temporary unemployment, divorce, or natural disaster; (2) "Consumer loan", any loan primarily used for personal, family, or household use including, but not limited (b) Credit card loan or loans; (c) Installment loans; EXPLANATION -- Matter enclosed in bold-faced brackets [thus] in the above bill is not enacted and is intended to be omitted from the law. Matter in bold-face type in the above bill is proposed language. HB 3187 (d) Retail financing; (e) Lines of credit; and (f) Financial products offered by the banks, credit unions, and lenders licensed in this state; (3) "Credit score", any numerical expression used by lenders to predict creditworthiness; (4) "Director", or "Director …