The document says “shall”Who acts: Comptroller General of the United StatesHow: statuteSec. 4 in the PDF
What the document says
“The Comptroller General of the United States shall carry out a study on the value of trigger leads received by text message”
Section 4(a) directs the Comptroller General of the United States to carry out a study on the value of trigger leads received by text message. The study has to include input from State regulatory agencies, mortgage lenders, depository institutions, consumer reporting agencies and consumers. The section takes the meaning of depository institution from section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813) and of consumer reporting agency from section 603 of the Fair Credit Reporting Act (15 U.S.C. 1681a).
What the document actually says
“The Comptroller General of the United States shall carry out a study on the value of trigger leads received by text message”
That sentence, in plain words
The head of the GAO must study the worth of trigger leads sent by text.
What this is about
A trigger lead is a tip that you may want a loan. The study must ask states, lenders, banks, credit bureaus, and people what they think.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
The document says “shall”Who acts: Comptroller General of the United StatesHow: statuteSec. 4 in the PDF
What the document says
“Not later than the end of the 12-month period beginning on the date of enactment of this Act, the Comptroller General shall submit to Congress a report containing any findings and determinations made in the study required by subsection (a).”
Section 4(b) requires the Comptroller General to submit a report to Congress containing any findings and determinations made in the study required by subsection (a). The deadline is the end of the 12 month period beginning on the date of enactment, which was September 5, 2025.
What the document actually says
“Not later than the end of the 12-month period beginning on the date of enactment of this Act, the Comptroller General shall submit to Congress a report containing any findings and determinations made in the study required by subsection (a).”
That sentence, in plain words
The head of the GAO must send Congress a report within a year.
What this is about
The report holds what the study found. The clock starts the day the law is signed.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
The two things the section requires: the study the Comptroller General has to carry out, and the report to Congress that follows it.
Nothing else is in the section.
The section names the Federal Deposit Insurance Act and the Fair Credit Reporting Act for the meaning of depository institution and consumer reporting agency. Neither statute is indexed here, so those definitions are not reproduced. The section does not define trigger leads.
