[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2808 Enrolled Bill (ENR)]
H.R.2808
One Hundred Nineteenth Congress
of the
United States of America
AT THE FIRST SESSION
Begun and held at the City of Washington on Friday,
the third day of January, two thousand and twenty-five
An Act
To amend the Fair Credit Reporting Act to prevent consumer reporting
agencies from furnishing consumer reports under certain circumstances,
and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Homebuyers Privacy Protection Act''.
SEC. 2. TREATMENT OF PRESCREENING REPORT REQUESTS.
(a) In General.--Section 604(c) of the Fair Credit Reporting Act
(15 U.S.C. 1681b(c)) is amended by adding at the end the following:
``(4) Treatment of prescreening report requests.--
``(A) Definitions.--In this paragraph:
``(i) Credit union.--The term `credit union' means a
Federal credit union or a State credit union, as those
terms are defined, respectively, in section 101 of the
Federal Credit Union Act (12 U.S.C. 1752).
``(ii) Insured depository institution.--The term
`insured depository institution' has the meaning given the
term in section 3 of the Federal Deposit Insurance Act (12
U.S.C. 1813(c)).
``(iii) Residential mortgage loan.--The term
`residential mortgage loan' has the meaning given the term
in section 1503 of the S.A.F.E. Mortgage Licensing Act of
2008 (12 U.S.C. 5102).
``(iv) Servicer.--The term `servicer' has the meaning
given the term in section 6(i) of the Real Estate
Settlement Procedures Act of 1974 (12 U.S.C. 2605(i)).
``(B) Limitation.--If a person requests a consumer report
from a consumer reporting agency in connection with a credit
transaction involving a residential mortgage loan, that agency
may not, based in whole or in part on that request, furnish a
consumer report to another person under this subsection
unless--
``(i) the transaction consists of a firm offer of
credit or insurance; and
``(ii) that other person--
``(I) has submitted documentation to that agency
certifying that such other person has, pursuant to
paragraph (1)(A), the authorization of the consumer to
whom the consumer report relates; or
``(II)(aa) has originated a current residential
mortgage loan of the consumer to whom the consumer
report relates;
``(bb) is the servicer of a current residential
mortgage loan of the consumer to whom the consumer
report relates; or
``(cc)(AA) is an insured depository institution or
credit union; and
``(BB) holds a current account for the consumer to
whom the consumer report relates.''.
SEC. 3. EFFECTIVE DATE.
This Act, and the amendments made by this Act, shall take effect on
the date that is 180 days after the date of enactment of this Act.
SEC. 4. GAO STUDY.
(a) In General.--The Comptroller General of the United States shall
carry out a study on the value of trigger leads received by text
message that includes input from State regulatory agencies, mortgage
lenders, depository institutions (as defined in section 3 of the
Federal Deposit Insurance Act (12 U.S.C. 1813)), consumer reporting
agencies (as defined in section 603 of the Fair Credit Reporting Act
(15 U.S.C. 1681a)), and consumers.
(b) Report.--Not later than the end of the 12-month period
beginning on the date of enactment of this Act, the Comptroller General
shall submit to Congress a report containing any findings and
determinations made in the study required by subsection (a).
Speaker of the House of Representatives.
Vice President of the United States and
President of the Senate.