; (2) the terms and conditions offered to a consumer regarding an extension of credit; or (3) an adverse action made for employment purposes. ; and (2) in the table of contents for such Act, by adding at the end the following new item: 630. Prohibition of certain factors related to Federal credit restoration or rehabilitation. . V Monitoring the development and use of credit scores 501. Establishes clear Federal oversight of the development of credit scoring models by the Bureau The Fair Credit Reporting Act ( 15 U.S.C. 1681 et seq.), as amended by section 407, is further amended— (1) by adding at the end the following new section: 631. Credit scoring models (a) Validated credit scoring models Not later than 1 year after the date of enactment of this section, the Bureau shall issue final regulations applicable to a person that creates, maintains, or purchases credit scoring models used in making credit decisions to establish standards for validating the accuracy and predictive value of all such credit scoring models, both before release for initial use and at regular intervals thereafter, for as long as such credit scoring models are made available for purchase or use by such person. (b) Prohibition At least once every 2 years, the Bureau shall conduct a review of credit scoring models to determine whether the use of any particular factors, or the weight or consideration given to certain factors by credit scoring models, is inappropriate, including if such factors do not enhance or contribute to the accuracy and predictive value of the models. Upon the conclusion of its review, the Bureau may prohibit a person described in subsection (a) from weighing, considering, or including certain factors in, or making available for purchase or use, certain credit scoring models or versions, as the Bureau determines appropriate. (c) Compliance The Bureau is authorized to enforce compliance with this section by a person described in subsection (a).