Bill Sponsor
BILLSPONSOR
Bill Sponsor
Politicians
Bills
Senate Bill 3502
118th Congress(2023-2024)
Homebuyers Privacy Protection Act
Active
Amendments
Active
Passed Senate on Dec 17, 2024
Overview
Text
About Linkage
Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
About Linkage
Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
Jump To
S. 3502 (Introduced-in-Senate)


118th CONGRESS
1st Session
S. 3502


To amend the Fair Credit Reporting Act to prevent consumer reporting agencies from furnishing consumer reports under certain circumstances, and for other purposes.

IN THE SENATE OF THE UNITED STATES

December 13, 2023

Mr. Reed (for himself and Mr. Hagerty) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

A BILL

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.

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) INSURED CREDIT UNION.—The term ‘insured credit union’ has the meaning given the term 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, solely on the basis of that request, furnish that consumer report to another person unless that other person—

“(i) has submitted documentation to that agency certifying that such other person has, pursuant to paragraph (1), the authorization of the consumer to whom the consumer report relates; or

“(ii) (I) has originated the current residential mortgage loan of the consumer;

“(II) is the servicer of the current residential mortgage loan of the consumer; or

“(III) (aa) is an insured depository institution or insured credit union; and

“(bb) holds a current account for the consumer to whom the consumer report relates.”.