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S. 1467119th CongressPassed one chamberLatest action Jun 17, 2025Decoded by AI · checked against the record
The plain-language version leads. The official text is always the reference.
The bill would stop credit agencies from selling mortgage applicants' data widely, cutting unwanted loan solicitations.
40-second read · 4 questions answered below
This bill would limit credit reporting agencies from sharing a mortgage applicant's credit information with other companies, a practice that currently triggers unsolicited loan offers. Sharing would only be allowed if the consumer gave permission, or if the company already has a relationship with them, such as their current lender, servicer, or bank. Any resulting offer must be a genuine firm offer of credit or insurance, not just marketing.
Homebuyers applying for mortgages would see fewer solicitation calls, texts, and mail; mortgage lenders, banks, credit unions, and credit reporting agencies like Equifax, Experian, and TransUnion would need to change data-sharing practices.
The change would restrict how credit agencies and lenders use mortgage inquiry data, requiring new compliance processes, with rules taking effect 180 days after enactment.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: it passed the Senate, and the official record shows nothing new since. If the House changes it, it goes back to the Senate before reaching the President.
Latest action: — Held at the desk.