Restricts when credit reporting agencies can sell a consumer's credit report to other companies after that consumer has requested a mortgage-related credit check, unless the buyer already has a current mortgage or account relationship with that consumer.

• Applies to prescreening requests made in connection with a residential mortgage loan, where a consumer reporting agency may not furnish a report to another person based on that request unless the transaction is a firm offer of credit or insurance and the other person meets a listed condition.
• Allows the other person to furnish a report if it has the consumer's authorization, currently has originated or services the consumer's residential mortgage loan, or is an insured depository institution or credit union that holds a current account for the consumer.
• Takes effect 180 days after enactment.
• Directs the Comptroller General to study the value of trigger leads received by text message and report findings to Congress within 12 months of enactment.

• Financial Services Committee (House)

Finance and Financial Sector