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EconomyH.R. 2808Comments

Homebuyers Privacy Protection Act

Official title: To amend the Fair Credit Reporting Act to prevent consumer reporting agencies from furnishing consumer reports under certain circumstances, and for other purposes.

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Where the Bill Stands

  1. Introduced, done
  2. Committee, done
  3. Floor Vote, done
  4. Outcome, shown after you vote

What This Bill Does

This act limits the circumstances in which credit reporting agencies may provide consumer credit reports to third parties in connection with residential mortgage transactions.

Specifically, the act prohibits a credit reporting agency from providing a consumer's credit report to a third party in connection with a residential mortgage transaction unless the transaction consists of a firm offer of credit or insurance and (1) the third party provides documentation certifying that it has the consumer's consent; or (2) the third party has originated a mortgage on behalf of the consumer, is a current mortgage loan servicer to the consumer, or has a current specified banking relationship with the consumer.

These provisions take effect 180 days after enactment.

The Government Accountability Office must study and report on the value of trigger leads (a marketing tactic facilitated by credit reporting agencies that may result in unsolicited credit offers to a consumer after a consumer applies for a separate type of credit) received by text message.

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Related Documents

Bill on Congress.govWeb Page ↗ (opens in a new tab)

Timeline

  1. Library of CongressSigned by President.
  2. Became Law
  3. House floor actionsPresented to President.
  4. SenateMessage on Senate action sent to the House.
  5. Library of CongressPassed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.
  6. SenatePassed Senate without amendment by Unanimous Consent. (consideration: CR S5522)
  7. Floor Vote
  8. SenateReceived in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 104.
  9. House floor actionsMr. Rose moved to suspend the rules and pass the bill, as amended.
  10. House floor actionsReported (Amended) by the Committee on Financial Services. H. Rept. 119-166.
  11. House committee actionsCommittee Consideration and Mark-up Session Held
  12. Library of CongressIntroduced in House
  13. House floor actionsReferred to the House Committee on Financial Services.
  14. Introduced
  15. Committee

Comments

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