Protecting Consumers from Abusive Mortgage Leads Act

Protecting Consumers from Abusive Mortgage Leads Act

This bill prohibits a credit reporting agency from providing a consumer's credit report to a third party in connection with a mortgage transaction unless (1) the third party provides documentation certifying that it has the consumer's consent, or (2) the third party has a current financial service relationship with the consumer.

[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4198 Introduced in House (IH)]

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118th CONGRESS
  1st Session
                                H. R. 4198

To amend section 604(c) of the Fair Credit Reporting Act to address the 
  treatment of pre-screening report requests, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 16, 2023

   Mr. Rose introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
To amend section 604(c) of the Fair Credit Reporting Act to address the 
  treatment of pre-screening report requests, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Protecting Consumers from Abusive 
Mortgage Leads Act''.

SEC. 2. TREATMENT OF PRE-SCREENING REPORT REQUESTS.

    Section 604(c) of the Fair Credit Reporting Act (15 U.S.C. 1681b) 
is amended by adding at the end the following:
            ``(4) Treatment of pre-screening report requests.--If a 
        person requests a report from a consumer reporting agency in 
        connection with a credit transaction involving an extension of 
        credit secured by real estate, such agency may not, solely on 
        the basis of such request, furnish a report to a third party 
        unless such third party has submitted documentation to such 
        agency certifying that such third party has the consumer's 
        consent or has a current relationship, relating to credit, 
        servicing or other financial services, with such consumer.''.
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