Bills · S 1467
PASSED SENATE· 119TH CONGRESS
Senate BillS 1467Consumer creditReal estate business
Homebuyers Privacy Protection Act
INTRO APR 10· LAST ACTION JUN 17
READING
2MIN
COSPONSORS
45BIPARTISAN
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- One chamber only
LEGISLATIVE PROGRESS
STEP 4 / 8Introduced
In Committee
Reported
Passed Senate
Passed House
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenThis bill matters because it addresses a common frustration for many Americans: the sudden influx of marketing materials and solicitations that appears after applying for a mortgage. This often happens because, under current law, credit reporting agencies can share your information with numerous businesses for 'prescreened' offers once a mortgage lender pulls your credit report. This can feel like an invasion of privacy during a significant financial decision.
If this bill becomes law, it would significantly reduce this type of unwanted marketing by limiting when and to whom credit reporting agencies can provide your credit report after a mortgage inquiry. This means a quieter, less overwhelming experience for homebuyers, allowing them to focus on their primary mortgage application without being distracted by numerous unsolicited offers. If it doesn't pass, homebuyers will continue to face this barrage of solicitations, which can be annoying, overwhelming, and raise concerns about how their personal financial data is being used.
KEY PROVISIONS
4AI-extractedPROVISION 01
Amends the Fair Credit Reporting Act to generally prohibit credit reporting agencies from sharing consumer reports for prescreened offers when the initial credit inquiry was for a residential mortgage loan.
This directly targets and restricts the sharing of consumer credit information that often leads to unwanted solicitations after applying for a home loan.
PROVISION 02
Allows consumer reports to be furnished for prescreening related to mortgage inquiries only if the other company makes a "firm offer of credit or insurance."
This ensures that any offers received by the consumer are legitimate and guaranteed, rather than merely promotional.
PROVISION 03
Further restricts sharing by requiring the company receiving the report to either have the consumer's authorization, an existing mortgage relationship (as originator or servicer), or an existing account relationship (as an insured depository institution or credit union).
This creates a stronger privacy barrier, ensuring information is only shared with entities that have a pre-existing relationship or explicit consent from the consumer.
PROVISION 04
Establishes that the changes made by this Act will become effective 180 days after the date it is enacted into law.
This provides a transition period for credit reporting agencies and other financial institutions to adjust their data sharing and compliance practices.
SPONSORSHIP
1 + 45
D· Rhode Island
YRS IN OFFICE
35
BILLS LED
44
COSPONSOR BREAKDOWNBIPARTISAN · 91%
DEM 24 REP 20 IND 1
ACTION TIMELINE
8 EVENTSJUN 17
Received in the House.
JUN 17
Held at the desk.
JUN 12
Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.
JUN 12
Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent. (consideration: CR S3395-3396)
BILL INFO
TypeSenate Bill
NumberS 1467
Congress119th
StatusPassed Senate
IntroducedApr 10, 2025
Last actionJun 17, 2025
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PASSED SENATE· 119TH CONGRESS · BANKING, HOUSING, AND URBAN AFFAIRS COMMITTEE · INTRODUCED APR 10, 2025
Senate BillS 1467Consumer creditReal estate business
Homebuyers Privacy Protection Act
INTRODUCED APR 10, 2025· LAST ACTION JUN 17, 2025
PASSAGE CHANCES
—%
READING
2 min
COSPONSORS
45
COMPLEXITY
Moderate
