ICBA urges grassroots action on trigger leads

As Congress returns from its April recess, ICBA is encouraging community bankers to tell their lawmakers to protect homebuyers by limiting mortgage trigger leads.

Details: ICBA urges community bankers to use its Be Heard Grassroots Action Center to encourage their members of Congress to co-sponsor H.R. 2808 and S. 1467, the Homebuyers Privacy Protection Act sponsored by Sens. Jack Reed (D-R.I.) and Bill Hagerty (R-Tenn.) and Reps. John Rose (R-Tenn.) and Ritchie Torres (D-N.Y).

Hearing This Week: H.R. 2808 is being noticed as part of a House Financial Institutions Subcommittee hearing tomorrow.

Background: The Homebuyers Privacy Protection Act would limit mortgage trigger lead solicitations to mortgage applicants who provide their consent and in limited circumstances for lenders that provide the prospective applicant with a firm offer of credit and have an existing relationship with the applicant.

ICBA Support:

• ICBA and other groups recently expressed support for the reintroduction of legislation in the House and Senate.

• In previous House and Senate letters, ICBA thanked the sponsors for introducing the legislation, noting it would address unwanted and invasive solicitations.

• In testimony before the House Financial Services Committee earlier this year, ICBA President and CEO Rebeca Romero Rainey called on Congress to protect consumers by ending mortgage trigger leads harassment.

• The issue is a key component of ICBA’s “Repair, Reform, and Thrive” plan and open letter to the 119th Congress.

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