H.R. 7297

[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7297 Introduced in House (IH)]

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118th CONGRESS
2d Session
H. R. 7297

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 HOUSE OF REPRESENTATIVES

February 7, 2024

Mr. Rose (for himself, Mr. Torres of New York, Mr. Luetkemeyer, Mr. 
Nickel, Mr. Posey, Ms. Pettersen, Ms. De La Cruz, Mr. Ogles, Mr. 
Johnson of South Dakota, Mr. Bergman, and Mr. Hill) introduced the 
following bill; which was referred to the Committee on Financial 
Services

_______________________________________________________________________

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.''.
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