Homebuyers Privacy Protection Act, the official text

119 S1467 ES: Homebuyers Privacy Protection Act
U.S. Senate
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EN
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119th CONGRESS 1st Session S. 1467 IN THE SENATE OF THE UNITED STATES 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. 1. Short title
This Act may be cited as the Homebuyers Privacy Protection Act .
2. Treatment of prescreening report requests
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 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.
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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.
Passed the Senate June 12, 2025. Secretary