```

[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 3502 Engrossed in Senate (ES)]

<DOC>
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
118th CONGRESS
  2d Session
                                S. 3502

_______________________________________________________________________

                                 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.

    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) 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 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)(I) has originated a current 
                        residential mortgage loan of the consumer to 
                        whom the consumer report relates;
                            ``(II) is the servicer of a current 
                        residential mortgage loan of the consumer to 
                        whom the consumer report relates; or
                            ``(III)(aa) is an insured depository 
                        institution or credit union; and
                            ``(bb) holds a current account for the 
                        consumer to whom the consumer report 
                        relates.''.

SEC. 3. EFFECTIVE DATE.

    This Act, and the amendments made by this Act, shall take effect on 
the date that is 90 days after the date of enactment of this Act.

            Passed the Senate December 17 (legislative day, December 
      16), 2024.

            Attest:

                                                             Secretary.
118th CONGRESS

  2d Session

                                S. 3502

_______________________________________________________________________

                                 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.
```