Letter in Support of Homebuyers Privacy Protection Act

ICBA sent a letter to Representatives John Rose (R-Tenn.) and Ritchie Torres (D-N.Y.) to thank them for introducing the Homebuyers Privacy Protection Act (H.R. 2808) and offer support for the bill, which would help protect the financial privacy of mortgage applicants.

ICBA noted that the bill would amend the Fair Credit Reporting Act to prohibit a credit reporting agency from selling “trigger leads” when a consumer applies for a residential mortgage unless the consumer has opted into the creation and sale of such leads or if certain exceptions apply.