Overview
- The Senate approved H.R. 2808 by voice vote over the weekend, sending the Homebuyers Privacy Protection Act to President Trump for signature.
- President Trump is expected to sign the legislation imminently, and it will take effect 180 days after enactment.
- The measure bars credit bureaus from selling “trigger leads” to third parties unless consumers consent to a firm offer or the buyer is the existing mortgage lender, servicer or holds a relevant banking relationship.
- The Consumer Financial Protection Bureau retains its existing FCRA authority and has signaled it will prioritize enforcement against actual fraud and tangible harms in the mortgage market.
- The bill drew bipartisan backing in Congress and endorsements from major industry and consumer groups such as America’s Credit Unions, the American Bankers Association and the Center for Responsible Lending.