What does Preamble of Homebuyers Privacy Protection Act do?

This Act amends the Fair Credit Reporting Act. The Act aims to prevent consumer reporting agencies from furnishing consumer reports under certain circumstances. The Act includes other purposes not explicitly detailed in this preamble.

What does > SHORT TITLE. of Homebuyers Privacy Protection Act do?

This bill is formally titled the Homebuyers Privacy Protection Act.

What does TREATMENT OF PRESCREENING REPORT REQUESTS. of Homebuyers Privacy Protection Act do?

This section amends Section 604(c) of the Fair Credit Reporting Act. It introduces a new subsection (4) regarding the treatment of prescreening report requests. The amendment defines key terms including 'credit union,' 'insured depository institution,' 'residential mortgage loan,' and 'servicer.' It limits the furnishing of consumer reports to another person based on a request related to a residential mortgage loan. A consumer reporting agency may furnish a report only if the transaction involves a firm offer of credit or insurance. The other person receiving the report must either have consumer authorization or meet specific criteria, such as originating a loan, being a servicer, or being an insured depository institution or credit union with a consumer's account.

What does > EFFECTIVE DATE. of Homebuyers Privacy Protection Act do?

This Act will become effective 180 days after its enactment. The amendments made by this Act will also take effect on the same date.

What does GAO STUDY. of Homebuyers Privacy Protection Act do?

This section mandates a study by the Comptroller General of the United States regarding the value of text message trigger leads. The study must incorporate input from State regulatory agencies, mortgage lenders, depository institutions, consumer reporting agencies, and consumers. The Comptroller General is required to submit a report of findings and determinations to Congress within 12 months of the Act's enactment.

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Homebuyers Privacy Protection Act

Last updated: 9/5/2025 · Introduced: 4/10/2025

Author: John Rose (R-TN)

TL;DR (AI)

The bill limits the furnishing of consumer reports by consumer reporting agencies for residential mortgage loans unless the transaction involves a firm offer of credit or insurance.
Consumer reporting agencies are only allowed to furnish reports to certain entities, such as loan originators, servicers, or insured depository institutions and credit unions with the consumer's account, or with consumer authorization.
The bill mandates a study by the Comptroller General of the United States to examine the value of text message trigger leads, incorporating input from various stakeholders and requiring a report to Congress within 12 months of enactment.

119th CongressenactedS. 1467(Passed Senate)Official page

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Other Sections

Includes provisions on preamble, <<note: 15 usc 1601 note.>> short title., and 3 more.

5 sections

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