United StatesHomebuyers Privacy Protection Act, limit on furnishing consumer reports after a mortgage report request
Pub. L. 119-36 (Homebuyers Privacy Protection Act), adding 15 U.S.C. 1681b(c)(4)
In force since .
A sensitive categories rule binding private bodies.
- Obligation class
- Consent, Disclosure
As of .
What it requires
- If you are a consumer reporting agency, do not furnish a consumer report to another person on the strength of a request made in connection with a credit transaction involving a residential mortgage loan unless the transaction consists of a firm offer of credit or insurance and that person has certified its authorization from the consumer, or has originated or services a current residential mortgage loan of the consumer, or is an insured depository institution or credit union holding a current account for the consumer (15 U.S.C. 1681b(c)(4)).
These lines are LexLint's reading of the law's text, as of .
What this law does
The Homebuyers Privacy Protection Act, Public Law 119-36, amends section 604(c) of the Fair Credit Reporting Act by adding a paragraph (4) on the treatment of prescreening report requests.
If a person requests a consumer report from a consumer reporting agency in connection with a credit transaction involving a residential mortgage loan, the agency may not, based in whole or in part on that request, furnish a consumer report to another person under that subsection unless the transaction consists of a firm offer of credit or insurance and the other person has submitted documentation certifying that it has the consumer's authorization.
The other person may instead be one that has originated a current residential mortgage loan of the consumer, is the servicer of one, or is an insured depository institution or credit union that holds a current account for the consumer. The Act also directs the Comptroller General to study the value of trigger leads received by text message and to report to Congress within 12 months of enactment.
When LexLint raises it
When your app profile says your app provides financial services or processes personal data.