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To amend the Fair Credit Reporting Act to prohibit the creation and sale of trigger leads, and for other purposes.

2/9/2022, 12:55 AM

Congressional Summary of HR 5720

This bill 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.

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Current Status of Bill HR 5720

Bill HR 5720 is currently in the status of Bill Introduced since January 30, 2020. Bill HR 5720 was introduced during Congress 116 and was introduced to the House on January 30, 2020.  Bill HR 5720's most recent activity was Referred to the House Committee on Financial Services. as of January 30, 2020

Bipartisan Support of Bill HR 5720

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 5720

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

- Administrative law and regulatory procedures
- Banking and financial institutions regulation
- Consumer Financial Protection Bureau
- Consumer credit
- Credit and credit markets
- Housing finance and home ownership
- Right of privacy

Alternate Title(s) of Bill HR 5720

To amend the Fair Credit Reporting Act to prohibit the creation and sale of trigger leads, and for other purposes.
To amend the Fair Credit Reporting Act to prohibit the creation and sale of trigger leads, and for other purposes.

Comments

Sponsors and Cosponsors of HR 5720

Wm. Lacy Clay
Wm. Lacy Clay
MissouriDemocrat

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