The National Association of Mortgage Brokers (NAMB) supports the Homebuyers’ Privacy Protection Act (S.3502), introduced by Senators Bill Hagerty (R-TN) and Jack Reed (D-RI). This legislation aims to curb the practice of “trigger leads,” where credit bureaus sell consumer information to data brokers without the consumer’s consent, leading to unwanted calls and confusion.
The bill prohibits consumer reporting agencies from providing trigger leads unless the third party has a current relationship with the consumer.
This measure gives consumers more control over their information and prevents misuse while allowing legitimate uses.
NAMB has been advocating for this issue for three congressional sessions and is encouraged by the growing support in both the Senate and the House. The Homebuyers’ Privacy Protection Act will protect consumers and the mortgage industry from the negative impacts of trigger leads.
NAMB urges everyone to contact their Senators and support this critical legislation to protect consumer privacy.
You can do so by clicking the NAMB link here: https://namb.org/call-to-action/#/26
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