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Committee advances bill to ban sale of mortgage 'trigger leads'
Summary
House Bill 240 would prohibit sale of consumer contact data generated when lenders pull mortgage credit reports (so-called trigger leads), while allowing original servicers to contact their existing customers; the committee passed the bill by voice vote.
The House Banks and Banking Committee passed House Bill 240, legislation that would restrict marketing uses of consumer data created when a lender pulls a credit report for a mortgage application, commonly called “trigger leads.�
Sponsor remarks framed the bill as a consumer-privacy measure designed to reduce deceptive marketing and unsolicited contact that can follow a mortgage credit pull. The presenter said the legislation would ban trigger leads while preserving the ability of…
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