Protecting Consumers from Abusive Mortgage Leads Act

Bill: 118-hr-4198
Sponsor: full_name: Rep. Rose, John W. [R-TN-6]
Introduced: 2023-06-16
Policy area: Finance and Financial Sector
Latest action: action_date: 2023-06-16
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2023-06-16
action_desc: Introduced in House
text: <p><b>Protecting Consumers from Abusive Mortgage Leads Act </b></p> <p>This bill prohibits a credit reporting agency from providing a consumer's credit report to a third party in connection with a mortgage transaction unless (1) the third party provides documentation certifying that it has the consumer's consent, or (2) the third party has a current financial service relationship with the consumer. </p>

tv_txt: I 118th CONGRESS 1st Session H. R. 4198 IN THE HOUSE OF REPRESENTATIVES June 16, 2023 Mr. Rose introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend section 604(c) of the Fair Credit Reporting Act to address the treatment of pre-screening report requests, and for other purposes.

1. Short title This Act may be cited as the Protecting Consumers from Abusive Mortgage Leads Act . 2. Treatment of pre-screening report requests Section 604(c) of the Fair Credit Reporting Act ( 15 U.S.C. 1681b ) is amended by adding at the end the following: (4) Treatment of pre-screening report requests If a person requests a report from a consumer reporting agency in connection with a credit transaction involving an extension of credit secured by real estate, such agency may not, solely on the basis of such request, furnish a report to a third party unless such third party has submitted documentation to such agency certifying that such third party has the consumer’s consent or has a current relationship, relating to credit, servicing or other financial services, with such consumer. .