HR 5720
To amend the Fair Credit Reporting Act to prohibit the creation and sale of trigger leads, and for other purposes.
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill aims to protect consumers’ privacy by preventing credit reporting agencies from creating and selling ‘trigger leads.’ Trigger leads are reports generated when a consumer inquires about a mortgage loan, and these reports are then shared with other lenders to signal the consumer’s interest. The bill prohibits credit reporting agencies from providing these types of reports unless the consumer specifically requested them. This legislation seeks to limit the information lenders receive about consumers’ credit activity.
Sponsors
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Primary sponsor
Wm. Lacy Clay
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