Congressional Bill H.R. 2808 Signed Into Law

Last Friday, President Trump signed H.R. 2808, the Homebuyers Privacy Protection Act, into law. The bill amends the Fair Credit Reporting Act (FCRA) by prohibiting credit reporting agencies from sharing a consumer’s credit report with third parties during a residential mortgage transaction, unless very specific conditions are met.

Specifically, the bill prohibits a credit reporting agency from providing a consumer's credit report to a third party in connection with a residential mortgage transaction unless the transaction consists of a firm offer of credit or insurance and (1) the third party provides documentation certifying that it has the consumer's consent; or (2) the third party has originated a mortgage on behalf of the consumer, is a current mortgage loan servicer to the consumer, or has a current specified banking relationship with the consumer.

The measure gained strong bipartisan support, passing the House by voice vote on June 23, 2025, and clearing the Senate by unanimous consent on August 2, 2025, before being signed into law on September 5, 2025. These provisions take effect 180 days after enactment.

WY it matters: This law helps protect consumers from unnecessary exposure of their private financial data while ensuring legitimate lenders and institutions can still access information when appropriate. For homebuyers, that means more security during one of the biggest financial transactions of their lives, while for lenders, it creates clearer rules of the road for responsible credit use.