United StatesCredit bureaus would limit sharing reports triggered by mortgage checks
Starting 180 days after September 5, 2025, credit bureaus would face limits on sharing reports for unsolicited offers after a mortgage credit check.
What it does
Starting 180 days after September 5, 2025, credit bureaus could share reports triggered by mortgage credit checks for unsolicited firm credit or insurance offers only with consumer permission or certain existing business ties.
Federal auditors must study the value of mortgage sales leads called trigger leads received by text message and report to Congress within 12 months of enactment.
Argument forRestricting report sharing tied to mortgage credit checks could reduce unwanted sales contacts from businesses borrowers have not authorized.
Argument againstThe sharing limits could reduce competing offers from lenders that lack borrowers’ permission or a covered existing business relationship.
More detail
Credit bureaus would be barred from sharing covered reports unless the offer and recipient meet the law’s requirements. The restriction covers reports shared for unsolicited offers based wholly or partly on a mortgage-related credit report request. Sharing must involve a firm offer of credit or insurance. The recipient must certify documented consumer permission, have made or service the consumer’s current home mortgage, or be an insured bank or credit union holding the consumer’s current account. The restriction takes effect 180 days after enactment on September 5, 2025.
The Government Accountability Office, Congress’s auditing agency, must study the value of trigger leads received by text message. The study must include input from state regulators, mortgage lenders, banks, credit bureaus, and consumers. The study requirement takes effect 180 days after September 5, 2025. The report is due within 12 months of that enactment date.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Sep 5Signed by President.Became Law
- Sep 5Became Public Law No: 119-36.Minor
- Aug 25Presented to President.To President
- Aug 8Message on Senate action sent to the House.
- Aug 2Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent. (consideration: CR S5522)Passed Senate
- Jun 24Received in the Senate. Read twice. Placed on Senate Legislative Calendar under General Orders. Calendar No. 104.
- Jun 23Mr. Rose moved to suspend the rules and pass the bill, as amended.
- Jun 23Considered under suspension of the rules. (consideration: CR H2876-2877)
- Jun 23DEBATE - The House proceeded with forty minutes of debate on H.R. 2808.
- Jun 23Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2876)Passed House
- Jun 23Motion to reconsider laid on the table Agreed to without objection.
- Jun 20Reported (Amended) by the Committee on Financial Services. H. Rept. 119-166.
- Jun 20Placed on the Union Calendar, Calendar No. 133.
- Jun 10Committee Consideration and Mark-up Session Held
- Jun 10Ordered to be Reported (Amended) by the Yeas and Nays: 46 - 0.
- Apr 10Introduced in House
- Apr 10Referred to the House Committee on Financial Services.Introduced
Consumer ProtectionHousingAI & Privacy