NAMB continues the fight against trigger leads

What’s more, the opting out would occur after the data had been put out there in the open which kind of defeats the purpose, she suggested. “To have to say ‘no’ when it’s already been done is too little, too late after the fact,” she said.

In combating the trigger leads practice, NAMB is calling for nothing short of an amendment to the Fair Credit Reporting Act (FCRA)– the federal law that allows the practice. Enacted in 1970, the FCRA ensures the accuracy, fairness and privacy of the information in consumer credit bureau files, according to its verbiage. 

Through NAMB’s efforts, a bill was filed in 2017 that made it through the House Financial Services Committee before ultimately dying as the congressional session closed. Then, NAMB had a similar bill pushed by Rep. Ritchie Torres (D-NY) during the 2021-22 congressional session that also ultimately failed to pass.

The fight continues

“We’re now in the 118th congressional session, and in April 2023, Rep. Torres once again filed a bill and we started over again. Since then, two more trigger leads bills have been filed – one pushed by Rep. John Rose (R-TN) and another by Sen. Jack Reed (D-RI),” Saunders noted.

“So, these bills are going to morph and change over time and we’re aware of that,” she said. “We support whatever legislation occurs to mitigate trigger leads for consumers and get them the ability to control their own credit.”

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