US HB5720 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 30 2020 - 25% progression, died in committee
Action: 2020-01-30 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 30 2020 - 25% progression, died in committee
Action: 2020-01-30 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Prohibits credit reporting agencies from providing a credit report not initiated by a consumer if the report is being provided on the basis that the consumer has had a credit inquiry regarding a home mortgage loan. This practice, known as producing a trigger lead, provides notice to other mortgage lenders that the consumer is seeking a mortgage loan.
Title
To amend the Fair Credit Reporting Act to prohibit the creation and sale of trigger leads, and for other purposes.
Sponsors
| Rep. Lacy Clay [D-MO] |
History
| Date | Chamber | Action |
|---|---|---|
| 2020-01-30 | House | Referred to the House Committee on Financial Services. |
| 2020-01-30 | House | Introduced in House |
Subjects
Administrative law and regulatory procedures
Banking and financial institutions regulation
Consumer credit
Consumer Financial Protection Bureau
Credit and credit markets
Finance and financial sector
Housing finance and home ownership
Right of privacy
Banking and financial institutions regulation
Consumer credit
Consumer Financial Protection Bureau
Credit and credit markets
Finance and financial sector
Housing finance and home ownership
Right of privacy
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/116th-congress/house-bill/5720/all-info |
| Text | https://www.congress.gov/116/bills/hr5720/BILLS-116hr5720ih.pdf |
