As previously reported, in 2023 bills were introduced in the U.S. House of Representatives (H.R. 4198) and the U.S. Senate (S. 3502) to amend the Fair Credit Reporting Act (FCRA) to curtail the practice of trigger leads with mortgage loans. While the goals of the bills are the same, the language of the bills differ. Recently, another bill was introduced in the U.S. House of Representatives (H.R. 7297) that uses the same language as the Senate Bill. Both bills provide for the adoption of the Homebuyers Privacy Protection Act, which would amend the FCRA to add certain definitions and the following limitation:

(B) LIMITATION.—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, solely on the basis of that request, furnish that consumer report to another person unless that other person—

    (i) has submitted documentation to that agency certifying that such other person has, pursuant to paragraph (1), the authorization of the consumer to whom the consumer report relates; or

    (ii)(I) has originated the current residential mortgage loan of the consumer;

        (II) is the servicer of the current residential mortgage loan of the consumer; or

        (III)(aa) is an insured depository institution or insured credit union; and

            (bb) holds a current account for the consumer to whom the consumer report relates.

Sponsors of the bills include both Democrats and Republicans.