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EconomyS. 1467Comments

Homebuyers Privacy Protection Act

Official title: A bill 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, current stage

What This Bill Does

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

Specifically, the bill 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 the bill's enactment.

Sponsors

Related Documents

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

Timeline

  1. House floor actionsReceived in the House.
  2. Library of CongressSenate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.
  3. SenateSenate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent. (consideration: CR S3395-3396)
  4. Passed the Senate
  5. Library of CongressIntroduced in Senate
  6. SenateRead twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S2567)
  7. Introduced
  8. Committee

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