Tennessee Bankers Association Applauds Rose and Hagerty for Leading Bipartisan Effort to Protect Homebuyers’ Privacy
New law restricts credit bureaus from selling mortgage applicants’ personal information as “trigger leads.”
Nashville, Tenn., September 10, 2025—The Tennessee Bankers Association (TBA) applauded President Trump for signing the bipartisan Homebuyers Privacy Protection Act into law, a measure that strengthens protections for consumers’ financial privacy.
The legislation—H.R. 2808, the Homebuyers Privacy Protection Act—was introduced in Congress by Rep. John Rose (R-Tenn.) and Rep. Ritchie Torres (D-N.Y.), and in the Senate by Sen. Bill Hagerty (R-Tenn.) and Sen. Jack Reed. Both Rose and Hagerty were instrumental in championing the bill, ensuring Tennessee’s voice was front and center in advancing this critical consumer protection.
The law restricts credit reporting agencies from selling consumers’ contact information when they apply for a residential mortgage. These “trigger leads” often result in a flood of unsolicited calls, texts, and mailings, creating confusion and frustration for homebuyers.
“The Tennessee Bankers Association joins community bankers across our state in thanking Rep. John Rose and Sen. Bill Hagerty for leading the charge to protect consumers by prohibiting abusive trigger lead practices,” said Colin Barrett, president and CEO of TBA. “We also appreciate the administration and members of Congress on both sides of the aisle who worked to pass this important law. Consumers will now have more control over their private financial details and will be shielded from incessant solicitations during the mortgage process.”
Prior to this law, when a consumer applied for a mortgage, credit bureaus could sell their information as a “trigger lead” to other lenders that would instantly solicit the borrower with sometimes hundreds of phone calls, texts and mailers. This created confusion for borrowers about which lender they were working with and led them to believe it was their bank that sold their information when, in fact, it was a credit bureau.
Polling from the Independent Community Bankers of America (ICBA), conducted by Morning Consult, showed strong public support for the change: 63% of surveyed U.S. adults favor preventing credit reporting agencies from selling or sharing consumers’ contact information when they apply for a home mortgage loan.
About The Tennessee Bankers Association
The Tennessee Bankers Association is a not-for-profit organization representing all of Tennessee’s commercial banks and thrift institutions. The Association provides continuing education, develops and monitors state and federal legislative agendas, disseminates information on all facets of the financial services industry, and promotes the public image of financial institutions. For more, visit www.TNBankers.org.
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