Title: Homeowner Information Privacy Protection Act
Policy area: Finance and Financial Sector

Summary:
Homeowner Information Privacy Protection Act
This bill requires the Government Accountability Office to study specified privacy issues related to the collection of certain personal information, as required by regulation, from mortgage applicants and borrowers under the Home Mortgage Disclosure Act of 1975.
The bill suspends specified regulatory requirements related to data sharing and reporting under the Act.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2204 Introduced in House (IH)]

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115th CONGRESS
  1st Session
                                H. R. 2204

 To require the Comptroller General of the United States to conduct a 
  study regarding the privacy of information collected under the Home 
        Mortgage Disclosure Act of 1975, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 27, 2017

Mr. Hultgren (for himself and Mr. Barr) introduced the following bill; 
       which was referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
 To require the Comptroller General of the United States to conduct a 
  study regarding the privacy of information collected under the Home 
        Mortgage Disclosure Act of 1975, 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 ``Homeowner Information Privacy 
Protection Act''.

SEC. 2. STUDY REGARDING PRIVACY OF INFORMATION COLLECTED UNDER THE HOME 
              MORTGAGE DISCLOSURE ACT OF 1975.

    (a) Study.--The Comptroller General of the United States shall 
conduct a study to determine whether the data required to be published, 
made available, or disclosed under the final rule, in connection with 
other publicly available data sources, including data made publicly 
available under Regulation C (12 C.F.R. 1003) before the effective date 
of the final rule, could allow for or increase the probability of--
            (1) exposure of the identity of mortgage applicants or 
        mortgagors through reverse engineering;
            (2) exposure of mortgage applicants or mortgagors to 
        identity theft or the loss of sensitive personal financial 
        information;
            (3) the marketing or sale of unfair, deceptive, or abusive 
        financial products to mortgage applicants or mortgagors based 
        on such data;
            (4) personal financial loss or emotional distress resulting 
        from the exposure of mortgage applicants or mortgagors to 
        identify theft or the loss of sensitive personal financial 
        information; and
            (5) the potential legal liability facing the Bureau and 
        market participants in the event the data required to be 
        published, made available, or disclosed under the final rule 
        leads or contributes to identity theft or the capture of 
        sensitive personal financial information.
    (b) Report.--The Comptroller General of the United States shall 
submit to the Committee on Financial Services of the House of 
Representatives and the Committee on Banking, Housing, and Urban 
Affairs of the Senate a report that includes--
            (1) the findings and conclusions of the Comptroller General 
        with respect to the study required under subsection (a); and
            (2) any recommendations for legislative or regulatory 
        actions that--
                    (A) would enhance the privacy of a consumer when 
                accessing mortgage credit; and
                    (B) are consistent with consumer protections and 
                safe and sound banking operations.

SEC. 3. TEMPORARY SUSPENSION OF DATA REPORTING REQUIREMENTS.

    Notwithstanding any other provision of law, the effective date for 
new reporting requirements contained in the final rule shall be January 
1, 2019.

SEC. 4. SUSPENSION OF DATA SHARING REQUIREMENTS.

    Notwithstanding any other provision of law, including the final 
rule--
            (1) depository institutions shall not be required to 
        publish, disclose, or otherwise make available to the public, 
        pursuant to the Home Mortgage Disclosure Act of 1975 (or 
        regulations issued under such Act) any data that was not 
        required to be published, disclosed, or otherwise made 
        available pursuant to such Act (or regulations issued under 
        such Act) on the day before the date of the enactment of the 
        Dodd-Frank Wall Street Reform and Consumer Protection Act; and
            (2) the Bureau and the Financial Institutions Examination 
        Council shall not publish, disclose, or otherwise make 
        available to the public any such information received from a 
        depository institution pursuant to the final rule.

SEC. 5. DEFINITIONS.

    For purposes of this Act:
            (1) Bureau.--The term ``Bureau'' means the Bureau of 
        Consumer Financial Protection.
            (2) Depository institution.--The term ``depository 
        institution'' has the meaning given that term under section 303 
        of the Home Mortgage Disclosure Act of 1975 (12 U.S.C. 2802).
            (3) Final rule.--The term ``final rule'' means the final 
        rule issued by the Bureau titled ``Home Mortgage Disclosure 
        (Regulation C)'' (October 28, 2015; 80 Fed. Reg. 66128).
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