The trigger leads bill, recently reintroduced in Congress, seeks to regulate how companies solicit potential mortgage customers following their credit inquiries. It aims to shift the current opt-out model to an opt-in model requiring explicit consumer consent for solicitation. While the bill initially failed to pass the House in 2024, it has garnered bipartisan support from key Senators and Representatives. The revised bill also includes provisions ensuring that any offers made through trigger leads must be bona fide, addressing concerns around predatory marketing practices and consumer rights.
The reintroduced bill emphasizes that companies using trigger leads must make bona fide offers of credit, targeting those that may use predatory practices.
This is what we've been waiting for: a chance to have an open and transparent debate about the merits of the bill, said Bill Killmer.
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