Independent Banker details law that safeguards borrower data

The latest Independent Banker magazine breaks down an ICBA-supported law to rein in the sale of mortgage “trigger leads.”

Details: As ICBA Vice President of Congressional Relations Stephen Keen writes in Independent Banker, the Homebuyers Privacy Protection Act will restrict credit reporting agencies from selling consumers’ contact information when they apply for a residential mortgage, which often unleashes a wave of unwanted calls and solicitations from competing lenders.

Community Bank Impact: “By limiting when reports can be shared with third parties, the law levels the playing field for relationship lenders and protects borrowers at a critical stage,” Keen writes.

More: The November edition of Independent Banker also includes articles on community bankers making homeownership achievable, succession planning for family banks, understanding the opportunities for agentic AI, and more.

Access: The magazine is available on the Independent Banker website and via the digital edition. Community bankers also can subscribe to Independent Banker’s newsletter to receive the magazine via email.