Trigger lead ban bill advances to Trump’s desk

The legislation is designed to enact a national prohibition on the misuse of trigger leads. Under this act, companies are prohibited from making credit offers unless the consumer has provided explicit consent or the offer is from their existing mortgage originator, servicer, depository institution or credit union. Additionally, companies must be ready to extend a genuine credit offer, referred to as a “bona fide” offer.

The bill achieved bipartisan and bicameral backing, with sponsorship from Representatives John Rose (R-Tenn.) and Ritchie Torres (D-N.Y.), along with Senators Bill Hagerty (R-Tenn.) and Jack Reed (D-R.I.).

The act is now headed to President Donald Trump for his signature and it is slated to take effect six months after enactment.

A similar bill (S. 1467)…