DATE: September 9, 2025
FOR IMMEDIATE RELEASE
Contact: Jim Roche
jroche@mainebankers.com
(207) 791-8401
Maine Bankers Association Applauds Restrictions on Mortgage ‘Trigger Leads’
The Maine Bankers Association applauds passage of the bipartisan “Homebuyers Privacy Protection Act” which will help protect the financial privacy of mortgage applicants. The bill was signed into law by the President recently.
The Maine Bankers Association lobbied heavily for H.R. 2808, the Homebuyers Privacy Protection Act, and was pleased to secure support from Maine’s two U.S. Senators, Collins and King, as well as Maine’s two U.S. Representatives, Pingree and Golden. Senator King co-sponsored the legislation. The bill will restrict credit reporting agencies from selling consumers’ contact information when they apply for a residential mortgage. Up to now, when a bank checked on the credit from a credit reporting agency for a customer requesting a mortgage, the process “triggered” a deluge of inquiries to prospective homebuyers from unscreened and unsolicited enterprises. This led to hassles and confusion for consumers. Borrowers received unwelcome phone calls, texts, and mailers from other companies, creating confusion about which lender they were working with. Public support for this policy change— restricting credit reporting agencies from selling customer contact information when they apply for a residential mortgage— showed wide support in recent polling data.
“Maine’s banking community thanks our leaders in Congress for passing this important law which provides additional consumer protections, mitigating potential scams and harmful sales tactics,” said Maine Bankers Association President Jim Roche. “Thanks to this bipartisan effort, consumers will now have more control over their private financial details and will be shielded from incessant solicitation as they apply for a mortgage.”
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