Study: ICBA-supported ban on mortgage ‘trigger leads’ paying off

ICBA-supported legislation enacted last year can reduce the drawbacks of mortgage “trigger leads” while preserving opportunities for comparison shopping, according to a new report from the Government Accountability Office.

Details: The GAO’s study of the effects of the Homebuyers Privacy Protection Act in 2025, which was signed into law last September and took effect in March of this year, found:

• Trigger leads previously flooded some homebuyers with mortgage solicitations, creating confusion and other risks.

• The potential benefits of trigger leads in comparison shopping appeared limited.

• The HPPA may reduce drawbacks of trigger leads while preserving opportunities for comparison shopping.

Background: The Homebuyers Privacy Protection Act restricts credit reporting agencies from selling consumers’ contact information when they apply for a residential mortgage. These trigger leads result in a deluge of solicitations for prospective homebuyers, leading to hassles and confusion for consumers.

ICBA Support: ICBA worked closely with lawmakers in support of the legislation, including in a letter of support ahead of the House markup, during testimony before the House Financial Services Committee, and in an open letter to the 119th Congress.

Community Banker Advocacy: In a message to community bankers after the bill signing last year, ICBA said its passage as standalone legislation—a rarity in Congress—reflects the community banking industry’s effective grassroots advocacy.