President Trump has signed a bill that would restrict the use of “trigger leads” in the mortgage industry. The legislation will become effective on March 5, 2026.
We previously reported on the passage of the legislation here.
The law amends the Fair Credit Reporting Act to prohibit consumer reporting agencies from furnishing a trigger lead except in limited circumstances.
House Financial Services Committee Chairman Rep. French Hill, R-Ark. applauded Trump’s signing of the bill. “This important bill protects homebuyers’ personal financial information, while encouraging competition and choice in the mortgage market,” he said.
Sen. Jack Reed, D-R.I. also applauded passage of the legislation.
“This new law will protect consumers and head off a flood of annoying, unwanted solicitations,” he said. “Homebuyers going through an already stressful process should not have their private information sold to spammers without consent.”
He added, “This is a rare data privacy win.”
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