MO HB3187

Prohibits lenders from denying consumer loans based solely on credit scores; requires individualized ability-to-pay analysis considering verified income, debt-to-income ratio, employment history, payment history, and extenuating circumstances like medical hardship or temporary unemployment

Bans automated loan denials without human review and prohibits penalizing applicants for medical debts under $500 or isolated emergency-related delinquencies

Grants denied applicants the right to request written explanations of denial factors, submit additional documentation, request reconsideration, and file complaints with the Division of Finance

Authorizes civil penalties up to $1,000 per violation plus investigation costs, with potential suspension or revocation of lending authority for repeated or willful violations

Effective January 1, 2027; applies to automobile loans, credit cards, installment loans, retail financing, and lines of credit from banks, credit unions, and licensed lenders