summary
Introduced
04/10/2025
04/10/2025
In Committee
06/10/2025
06/10/2025
Crossed Over
06/24/2025
06/24/2025
Passed
09/05/2025
09/05/2025
Dead
Signed/Enacted/Adopted
09/05/2025
09/05/2025
Introduced Session
119th Congress
Bill Summary
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.
AI Summary
This bill amends the Fair Credit Reporting Act to add new restrictions on how consumer reporting agencies can share consumer reports related to residential mortgage loans. Specifically, the bill limits when a consumer reporting agency can furnish a consumer report after receiving a request for a report about a potential mortgage loan. The agency can only share the report if the request is for a firm offer of credit or insurance, and the recipient either has the consumer's authorization or meets specific criteria: they have originated or are servicing the consumer's current residential mortgage loan, or they are an insured depository institution or credit union that holds a current account for the consumer. The bill also requires the Government Accountability Office (GAO) to conduct a study on "trigger leads" (notifications sent when a consumer's credit information is accessed) and report its findings to Congress within 12 months. The provisions of this bill will take effect 180 days after its enactment, giving financial institutions time to adjust to the new requirements. The goal appears to be protecting consumers' privacy and limiting unsolicited credit offers related to mortgage lending.
Committee Categories
Business and Industry
Sponsors (90)
John Rose (R)*,
Mark Alford (R),
Gabe Amo (D),
Mark Amodei (R),
Don Bacon (R),
Tom Barrett (R),
Joyce Beatty (D),
Jack Bergman (R),
Stephanie Bice (R),
Sanford Bishop (D),
Julia Brownley (D),
Vern Buchanan (R),
Tim Burchett (R),
Janelle Bynum (D),
Ed Case (D),
Emanuel Cleaver (D),
Ben Cline (R),
Michael Cloud (R),
Angie Craig (D),
Jason Crow (D),
Warren Davidson (R),
Monica De La Cruz (R),
Byron Donalds (R),
Troy Downing (R),
Mike Ezell (R),
Cleo Fields (D),
Brad Finstad (R),
Michelle Fischbach (R),
Brian Fitzpatrick (R),
Chuck Fleischmann (R),
Mike Flood (R),
Bill Foster (D),
Scott Franklin (R),
Andrew Garbarino (R),
Jared Golden (D),
Josh Gottheimer (D),
Glenn Grothman (R),
Michael Guest (R),
Mike Haridopolos (R),
Kevin Hern (R),
Ashley Hinson (R),
Bill Huizenga (R),
Dusty Johnson (R),
Robin Kelly (D),
Trent Kelly (R),
Jen Kiggans (R),
Kevin Kiley (R),
David Kustoff (R),
Darin LaHood (R),
Mike Lawler (R),
Sam Liccardo (D),
Frank Lucas (R),
Anna Luna (R),
Stephen Lynch (D),
Tracey Mann (R),
Sarah McBride (D),
Lisa McClain (R),
Gregory Meeks (D),
Dan Meuser (R),
John Moolenaar (R),
Tim Moore (R),
Frank Mrvan (D),
Joe Neguse (D),
Ralph Norman (R),
Eleanor Holmes Norton (D),
Zach Nunn (R),
Andy Ogles (R),
Brittany Pettersen (D),
Deborah Ross (D),
John Rutherford (R),
Derek Schmidt (R),
Brad Schneider (D),
David Scott (D),
Pete Sessions (R),
Brad Sherman (D),
Adrian Smith (R),
Lloyd Smucker (R),
Eric Sorensen (D),
Bryan Steil (R),
Marlin Stutzman (R),
Tom Suozzi (D),
Bennie Thompson (D),
Tom Tiffany (R),
William Timmons (R),
Ritchie Torres (D),
Nydia Velázquez (D),
Eugene Vindman (D),
Daniel Webster (R),
Nikema Williams (D),
Rob Wittman (R),
Last Action
Became Public Law No: 119-36. (on 09/05/2025)
Official Document
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