Homebuyers Privacy Protection Act

119 S1467 ES: Homebuyers Privacy Protection Act U.S. Senate text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. 119th CONGRESS1st SessionS. 1467IN THE SENATE OF THE UNITED STATESAN ACTTo amend the Fair Credit Reporting Act to prevent consumer reporting agencies from furnishing consumer reports under certain circumstances, and for other purposes.1.Short titleThis Act may be cited as the Homebuyers Privacy Protection Act.2.Treatment of prescreening report requestsSection 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)DefinitionsIn this paragraph:(i)Credit unionThe term credit union means a Federal credit union or a State credit union, as those terms are defined in section 101 of the Federal Credit Union Act (12 U.S.C. 1752). (ii)Insured depository institutionThe 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 loanThe 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)ServicerThe 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)LimitationIf 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..3.Effective dateThis 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.Passed the Senate June 12, 2025.Secretary

119 S1467 IS: Homebuyers Privacy Protection Act U.S. Senate 2025-04-10 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. II119th CONGRESS1st SessionS. 1467IN THE SENATE OF THE UNITED STATESApril 10, 2025Mr. Reed (for himself, Mr. Hagerty, Mr. Van Hollen, Mr. Tillis, Ms. Cortez Masto, Mr. Cramer, Ms. Smith, Mrs. Britt, Mr. Gallego, Mr. Ricketts, Ms. Alsobrooks, Mr. Rounds, Mrs. Capito, Mr. Wyden, Mr. Crapo, Mrs. Hyde-Smith, Mr. Whitehouse, Mr. Risch, Mr. King, Mr. Tuberville, Mr. Fetterman, Ms. Klobuchar, Mr. Kaine, Ms. Rosen, Mrs. Shaheen, Mr. Blumenthal, Ms. Baldwin, Mr. Welch, Mr. Hickenlooper, Mr. Peters, Mr. Bennet, Mr. Markey, Mr. Schatz, Mr. Merkley, Mr. Kelly, and Mrs. Fischer) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban AffairsA BILLTo amend the Fair Credit Reporting Act to prevent consumer reporting agencies from furnishing consumer reports under certain circumstances, and for other purposes.1.Short titleThis Act may be cited as the Homebuyers Privacy Protection Act.2.Treatment of prescreening report requestsSection 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)DefinitionsIn this paragraph:(i)Credit unionThe term credit union means a Federal credit union or a State credit union, as those terms are defined in section 101 of the Federal Credit Union Act (12 U.S.C 1752). (ii)Insured depository institutionThe 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 loanThe 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)ServicerThe 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)LimitationIf 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..3.Effective dateThis 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.