H.R. 2808: Homebuyers Privacy Protection Act
The Homebuyers Privacy Protection Act aims to amend the Fair Credit Reporting Act to enhance privacy protections for consumers in the context of residential mortgage loans. This bill introduces specific changes regarding how consumer reporting agencies can handle requests for consumer reports related to mortgage transactions.
Treatment of Prescreening Report Requests
The bill specifically addresses situations where a consumer report is requested in connection with a credit transaction for a residential mortgage loan. According to the proposed amendments:- Consumer reporting agencies will be prohibited from disclosing consumer reports to third parties based on a request linked to a residential mortgage loan unless certain conditions are met.
- To share the data, the requesting party must ensure the consumer has expressly authorized the release of their information, or they must be directly involved in the mortgage transaction as either the original lender or the current servicer of that loan.
Definitions
The bill provides several definitions vital to its implementation, which include:- Credit Union: Defined in accordance with the Federal Credit Union Act.
- Insured Depository Institution: Defined by the Federal Deposit Insurance Act.
- Residential Mortgage Loan: Defined by the S.A.F.E. Mortgage Licensing Act of 2008.
- Servicer: Defined by the Real Estate Settlement Procedures Act of 1974.
Effective Date
The provisions of this Act will take effect 180 days after it is enacted.GAO Study Requirement
The bill also mandates that the Comptroller General of the United States conduct a study on the value of "trigger leads" received via text message. This study will involve input from various stakeholders, including state regulators, mortgage lenders, depository institutions, consumer reporting agencies, and consumers. A report on the findings of this study must be submitted to Congress within 12 months of the Act’s enactment.Relevant Companies
- JPM - JPMorgan Chase & Co. may be significantly impacted as one of the largest residential mortgage lenders. The bill's restrictions on sharing consumer reports could affect their marketing and consumer outreach strategies.
- USB - U.S. Bancorp, which operates U.S. Bank and provides various mortgage services, might see changes in how they access and use consumer credit information for prescreening.
- PNC - PNC Financial Services Group may face regulatory adjustments in their mortgage lending practices due to the limitations on consumer report sharing as outlined in the bill.
This is an AI-generated summary of the bill text. There may be mistakes.
Sponsors
90 bill sponsors
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TrackJohn W. Rose
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TrackMark Alford
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TrackGabe Amo
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TrackMark E. Amodei
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TrackDon Bacon
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TrackTom Barrett
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TrackJoyce Beatty
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TrackJack Bergman
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TrackStephanie I. Bice
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TrackSanford D. Bishop, Jr.
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TrackJulia Brownley
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TrackVern Buchanan
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TrackTim Burchett
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TrackJanelle Bynum
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TrackEd Case
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TrackEmanuel Cleaver
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TrackBen Cline
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TrackMichael Cloud
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TrackAngie Craig
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TrackJason Crow
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TrackWarren Davidson
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TrackMonica De La Cruz
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TrackByron Donalds
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TrackTroy Downing
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TrackMike Ezell
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TrackCleo Fields
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TrackBrad Finstad
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TrackMichelle Fischbach
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TrackBrian K. Fitzpatrick
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TrackCharles J. "Chuck" Fleischmann
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TrackMike Flood
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TrackBill Foster
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TrackScott Franklin
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TrackAndrew R. Garbarino
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TrackJared F. Golden
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TrackJosh Gottheimer
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TrackGlenn Grothman
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TrackMichael Guest
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TrackMike Haridopolos
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TrackKevin Hern
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TrackAshley Hinson
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TrackBill Huizenga
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TrackDusty Johnson
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TrackRobin L. Kelly
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TrackTrent Kelly
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TrackJennifer Kiggans
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TrackKevin Kiley
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TrackDavid Kustoff
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TrackDarin LaHood
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TrackMichael Lawler
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TrackSam Liccardo
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TrackFrank D. Lucas
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TrackAnna Paulina Luna
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TrackStephen F. Lynch
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TrackTracey Mann
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TrackSarah McBride
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TrackLisa C. McClain
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TrackGregory W. Meeks
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TrackDaniel Meuser
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TrackJohn R. Moolenaar
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TrackTim Moore
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TrackFrank J. Mrvan
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TrackJoe Neguse
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TrackRalph Norman
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TrackEleanor Holmes Norton
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TrackZachary Nunn
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TrackAndrew Ogles
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TrackBrittany Pettersen
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TrackDeborah K. Ross
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TrackJohn H. Rutherford
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TrackDerek Schmidt
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TrackBradley Scott Schneider
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TrackDavid Scott
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TrackPete Sessions
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TrackBrad Sherman
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TrackAdrian Smith
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TrackLloyd Smucker
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TrackEric Sorensen
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TrackBryan Steil
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TrackMarlin A. Stutzman
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TrackThomas R. Suozzi
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TrackBennie G. Thompson
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TrackThomas P. Tiffany
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TrackWilliam R. Timmons IV
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TrackRitchie Torres
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TrackNydia M. Velázquez
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TrackEugene Vindman
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TrackDaniel Webster
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TrackNikema Williams
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TrackRobert J. Wittman
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Actions
19 actions
| Date | Action |
|---|---|
| Sep. 05, 2025 | Became Public Law No: 119-36. |
| Sep. 05, 2025 | Signed by President. |
| Aug. 25, 2025 | Presented to President. |
| Aug. 08, 2025 | Message on Senate action sent to the House. |
| Aug. 02, 2025 | Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent. |
| Aug. 02, 2025 | Passed Senate without amendment by Unanimous Consent. (consideration: CR S5522: 1) |
| Jun. 24, 2025 | Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 104. |
| Jun. 23, 2025 | Considered under suspension of the rules. (consideration: CR H2876-2877) |
| Jun. 23, 2025 | DEBATE - The House proceeded with forty minutes of debate on H.R. 2808. |
| Jun. 23, 2025 | Motion to reconsider laid on the table Agreed to without objection. |
| Jun. 23, 2025 | Mr. Rose moved to suspend the rules and pass the bill, as amended. |
| Jun. 23, 2025 | On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2876) |
| Jun. 23, 2025 | Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2876) |
| Jun. 20, 2025 | Placed on the Union Calendar, Calendar No. 133. |
| Jun. 20, 2025 | Reported (Amended) by the Committee on Financial Services. H. Rept. 119-166. |
| Jun. 10, 2025 | Committee Consideration and Mark-up Session Held |
| Jun. 10, 2025 | Ordered to be Reported (Amended) by the Yeas and Nays: 46 - 0. |
| Apr. 10, 2025 | Introduced in House |
| Apr. 10, 2025 | Referred to the House Committee on Financial Services. |
