S. 3502 is a new rule that says companies that check people's credit scores must get permission before sharing reports, especially when someone is trying to buy a house. This is like making sure they get a "yes" from the person before telling others about their grades.

The "Homebuyers Privacy Protection Act" is a plan to change the rules so that companies can't share people's credit information when they are buying a house unless they're allowed by the person or already helping with the house's money. This rule is meant to keep personal money details safe and starts working 90 days after it becomes a law.

The bill wants to make sure that companies who check people's credit scores can only share this information in certain situations, like when the person agrees or when it's really important for someone helping with their mortgage.