Legislative Activity

The Bank Loan Privacy Act requires the Bureau to provide advance notice and seek public comment before deleting or modifying data under 15 U.S.C. 1691c-2(e)(4). The rule must describe the planned data modifications and deletions and explain how they advance privacy interests.

The Homebuyers Privacy Protection Act amends the Fair Credit Reporting Act to limit consumer reporting agencies from sharing credit report information when a person requests a credit report for a residential mortgage loan. Consumer reporting agencies can only furnish this information if the entity has a firm offer of credit or insurance, has the consumer's authorization, or has an existing relationship with the consumer as a mortgage lender, servicer, or financial institution. This act aims to protect consumers' privacy during the home buying process by limiting the amount of entities that get access to their credit information. The changes will take effect 180 days after the Act is enacted.

The Black Vulture Relief Act of 2025 allows livestock producers and their employees to take black vultures that are causing or are reasonably believed to cause death, injury, or destruction to livestock. This act defines key terms related to black vultures and livestock production and requires individuals who take a black vulture to submit an annual report to the United States Fish and Wildlife Service. The Act prohibits the use of poison to take or attempt to take a black vulture. The Fish and Wildlife Service must provide a reporting form within 180 days of enactment.

The "Court Shopping Deterrence Act" amends Title 28 of the U.S. Code to allow direct appeals to the Supreme Court for any nationwide injunction issued by a U.S. District Court. A nationwide injunction is defined as a court order that restricts the enforcement of a Federal statute, regulation, or order against a non-party. This change aims to prevent plaintiffs from strategically filing lawsuits in specific districts to obtain nationwide injunctions.

The "Safe Access to Cash Act of 2025" broadens the definition of an ATM to include all network-connected machines that allow customers to access their accounts. It clarifies that ATMs and cash being transported to or from them are under the protection of financial institutions for robbery-related legal purposes, regardless of location or ownership.

The Payment Choice Act of 2025 ensures that retail businesses accepting in-person payments cannot refuse cash for transactions under $500, preventing them from charging cash-paying customers more. It outlines specific exceptions, such as temporary system failures or providing fee-free cash-to-prepaid card converters, and allows for inactivity fees on prepaid cards under certain conditions. The bill also includes enforcement mechanisms, allowing customers to take legal action against businesses in violation and establishing penalties for non-compliance. For the first 5 years, businesses are only required to accept bills up to $20.

The Bank Privacy Reform Act amends the Bank Secrecy Act to enhance financial privacy by requiring search warrants for accessing financial records, clarifying the purpose of transaction record-keeping, and removing or modifying several sections related to reporting requirements, penalties, and definitions. These changes aim to narrow the scope of financial surveillance and reinforce the privacy of individuals' financial information.