Homebuyers Privacy Protection Act — FCRA § 604(c) (15 U.S.C. 1681b(c)) trigger-lead restriction

hppa-fcra-trigger-leads

Homebuyers Privacy Protection Act, H.R. 2808 (119th Congress) — enrolled bill. Amends FCRA § 604(c) (15 U.S.C. 1681b(c)) by adding paragraph (4) to restrict consumer reporting agencies from furnishing a mortgage "trigger lead" consumer report to another person based on a mortgage-triggered prescreening request, unless the transaction is a firm offer of credit or insurance and the recipient has the consumer's authorization, originated the current residential mortgage loan, services it, or is an insured depository institution or credit union holding a current account. Includes definitions, the 180-day effective-date provision, and the GAO study. Full verbatim text captured clause-by-clause from the congress.gov enrolled-bill snapshot.

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Verbatim regulatory text (15)

Verbatim provisions from Homebuyers Privacy Protection Act — FCRA § 604(c) (15 U.S.C. 1681b(c)) trigger-lead restriction — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

HPPA — Section 1 — Short Title

This Act may be cited as the ‘‘Homebuyers Privacy Protection Act’’.

Source: Homebuyers Privacy Protection Act — FCRA § 604(c) (15 U.S.C. 1681b(c)) trigger-lead restriction — Section 1 — Short Title · source URL · snapshot b2d35e9899e89543

HPPA — Section 2(a) — Amendment to FCRA § 604(c) (15 U.S.C. 1681b(c))

Section 604(c) of the Fair Credit Reporting Act (15 U.S.C. 1681b(c)) is amended by adding at the end the following:

Source: Homebuyers Privacy Protection Act — FCRA § 604(c) (15 U.S.C. 1681b(c)) trigger-lead restriction — Section 2(a) — Amendment to FCRA § 604(c) (15 U.S.C. 1681b(c)) · source URL · snapshot b2d35e9899e89543

HPPA — § 604(c)(4)(A)(i) — Definition: credit union

The term ‘credit union’ means a Federal credit union or a State credit union, as those terms are defined, respectively, in section 101 of the Federal Credit Union Act (12 U.S.C. 1752).

Source: Homebuyers Privacy Protection Act — FCRA § 604(c) (15 U.S.C. 1681b(c)) trigger-lead restriction — § 604(c)(4)(A)(i) — Definition: credit union · source URL · snapshot b2d35e9899e89543

HPPA — § 604(c)(4)(A)(ii) — Definition: 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)).

Source: Homebuyers Privacy Protection Act — FCRA § 604(c) (15 U.S.C. 1681b(c)) trigger-lead restriction — § 604(c)(4)(A)(ii) — Definition: insured depository institution · source URL · snapshot b2d35e9899e89543

HPPA — § 604(c)(4)(A)(iii) — Definition: 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).

Source: Homebuyers Privacy Protection Act — FCRA § 604(c) (15 U.S.C. 1681b(c)) trigger-lead restriction — § 604(c)(4)(A)(iii) — Definition: residential mortgage loan · source URL · snapshot b2d35e9899e89543

HPPA — § 604(c)(4)(A)(iv) — Definition: 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)).

Source: Homebuyers Privacy Protection Act — FCRA § 604(c) (15 U.S.C. 1681b(c)) trigger-lead restriction — § 604(c)(4)(A)(iv) — Definition: servicer · source URL · snapshot b2d35e9899e89543

HPPA — § 604(c)(4)(B) — Limitation on furnishing consumer report from a mortgage-triggered request

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—

Source: Homebuyers Privacy Protection Act — FCRA § 604(c) (15 U.S.C. 1681b(c)) trigger-lead restriction — § 604(c)(4)(B) — Limitation on furnishing consumer report from a mortgage-triggered request · source URL · snapshot b2d35e9899e89543

HPPA — § 604(c)(4)(B)(i) — Condition: firm offer of credit or insurance

the transaction consists of a firm offer of credit or insurance; and

Source: Homebuyers Privacy Protection Act — FCRA § 604(c) (15 U.S.C. 1681b(c)) trigger-lead restriction — § 604(c)(4)(B)(i) — Condition: firm offer of credit or insurance · source URL · snapshot b2d35e9899e89543

HPPA — § 604(c)(4)(B)(ii)(I) — Recipient condition: consumer authorization under paragraph (1)(A)

has submitted documentation to that agency certifying that such other person has, pursuant to paragraph (1)(A), the authorization H.

Source: Homebuyers Privacy Protection Act — FCRA § 604(c) (15 U.S.C. 1681b(c)) trigger-lead restriction — § 604(c)(4)(B)(ii)(I) — Recipient condition: consumer authorization under paragraph (1)(A) · source URL · snapshot b2d35e9899e89543

HPPA — § 604(c)(4)(B)(ii)(II)(aa) — Recipient condition: originated the current residential mortgage loan

has originated a current residential mortgage loan of the consumer to whom the con- sumer report relates; ‘‘(bb) is the servicer of a current residential mortgage loan of the consumer to whom the con- sumer report relates; or ‘‘(cc)(AA) is an insured depository institution or credit union; and ‘‘(BB) holds a current account for the consumer to whom the consumer report relates.’’.

Source: Homebuyers Privacy Protection Act — FCRA § 604(c) (15 U.S.C. 1681b(c)) trigger-lead restriction — § 604(c)(4)(B)(ii)(II)(aa) — Recipient condition: originated the current residential mortgage loan · source URL · snapshot b2d35e9899e89543

HPPA — § 604(c)(4)(B)(ii)(II)(bb) — Recipient condition: servicer of the current residential mortgage loan

is the servicer of a current residential mortgage loan of the consumer to whom the con- sumer report relates; or ‘‘(cc)(AA) is an insured depository institution or credit union; and ‘‘(BB) holds a current account for the consumer to whom the consumer report relates.’’.

Source: Homebuyers Privacy Protection Act — FCRA § 604(c) (15 U.S.C. 1681b(c)) trigger-lead restriction — § 604(c)(4)(B)(ii)(II)(bb) — Recipient condition: servicer of the current residential mortgage loan · source URL · snapshot b2d35e9899e89543

HPPA — § 604(c)(4)(B)(ii)(II)(cc) — Recipient condition: insured depository institution or credit union holding a current account

is an insured depository institution or credit union; and ‘‘(BB) holds a current account for the consumer to whom the consumer report relates.

Source: Homebuyers Privacy Protection Act — FCRA § 604(c) (15 U.S.C. 1681b(c)) trigger-lead restriction — § 604(c)(4)(B)(ii)(II)(cc) — Recipient condition: insured depository institution or credit union holding a current account · source URL · snapshot b2d35e9899e89543

HPPA — Section 3 — Effective Date (180 days after enactment)

This Act, and the amendments made by this Act, shall take effect on the date that is 180 days after the date of enactment of this Act.

Source: Homebuyers Privacy Protection Act — FCRA § 604(c) (15 U.S.C. 1681b(c)) trigger-lead restriction — Section 3 — Effective Date (180 days after enactment) · source URL · snapshot b2d35e9899e89543

HPPA — Section 4(a) — GAO study on the value of trigger leads received by text message

The Comptroller General of the United States shall carry out a study on the value of trigger leads received by text message that includes input from State regulatory agencies, mortgage lenders, depository institutions (as defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813)), consumer reporting agencies (as defined in section 603 of the Fair Credit Reporting Act (15 U.S.C. 1681a)), and consumers.

Source: Homebuyers Privacy Protection Act — FCRA § 604(c) (15 U.S.C. 1681b(c)) trigger-lead restriction — Section 4(a) — GAO study on the value of trigger leads received by text message · source URL · snapshot b2d35e9899e89543

HPPA — Section 4(b) — GAO report to Congress within 12 months

Not later than the end of the 12-month period beginning on the date of enactment of this Act, the Comptroller General shall submit to Congress a report containing any findings and determinations made in the study required by subsection (a).

Source: Homebuyers Privacy Protection Act — FCRA § 604(c) (15 U.S.C. 1681b(c)) trigger-lead restriction — Section 4(b) — GAO report to Congress within 12 months · source URL · snapshot b2d35e9899e89543

Operationalizing Homebuyers Privacy Protection Act — FCRA § 604(c) (15 U.S.C. 1681b(c)) trigger-lead restriction

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