Bills › 91st General Assembly
Relating to solicitation by a financial institution using prescreened trigger lead information from a consumer report
Where it is now
- Done: IntroducedFebruary 11, 2025
- Done: SubcommitteeFebruary 11, 2025
- Done: House committeeMarch 4, 2025
- Skipped: Passes the HouseContinued as HF 857
- Next: Senate committee
- Next: Passes the Senate
- Next: To the Governor
- Next: Signed into law
Became HF 857 → Its progress continues under the new number. Go to HF 857 What’s a funnel?
What’s in it
AI summary Banks and loan companies are prohibited from using unfair or deceptive tricks when contacting people who have applied for a mortgage elsewhere. These lenders must clearly state they are not connected to the original company and cannot ignore "do-not-call" requests or change promised rates and terms to hurt the customer. This rule ensures that when companies use your credit information to send you offers, they stay honest about who they are and what they are offering.1
Read the official explanation
This bill relates to solicitation by a financial institution using prescreened trigger lead information from a consumer report. Under the bill, a financial institution shall not use an unfair or deceptive practice when using prescreened mortgage trigger lead information derived from a consumer report to solicit a consumer who has applied for a loan with a different financial institution. “Consumer report”, “financial institution”, and “mortgage trigger lead” are defined in the bill. _____ is not affiliated with the financial institution with which the consumer initially applied; fails to conform to state and federal law relating to prescreened solicitations using consumer reports, including but not limited to the requirement to make a firm offer of credit to the consumer; uses information regarding a consumer who has opted out of prescreened offers of credit or who has placed the consumer’s contact information on a federal do-not-call registry; or solicits a consumer with an offer of certain rates, terms, or costs, but subsequently changes the rates, terms, or costs to the detriment of the consumer. 16.
House subcommittee
Named February 11, 2025. On February 26, 2025 it recommended amendment and passage.
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part
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91st General Assembly