119-hr2808

[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.