Upper Cumberland Times

U.S. Representative John Rose, a Republican from Tennessee, has reintroduced the "Homebuyers Privacy Protection Act," a bill aimed at reducing unwanted communications for potential homeowners. Co-led by Representative Ritchie Torres, a Democrat from New York, this legislation seeks to address the common issue of trigger leads. Trigger leads refer to information shared by credit bureaus when a consumer applies for financing, which is often sold to data brokers without the consumer's consent, resulting in numerous unsolicited solicitations.

The proposed act intends to amend the Fair Credit Reporting Act to prevent consumer reporting agencies from providing trigger leads unless consumers opt in. The bill allows for the use of trigger leads but only in limited circumstances.

"The Homebuyers Privacy Protection Act strikes the right balance in my view," stated Representative Rose. He believes the act will protect homebuyers from unwanted sales tactics while maintaining fair market competition. Representative Torres emphasized the importance of the bill, stating, "The Homebuyers Privacy Protection Act will serve as a crucial and transformative step in safeguarding American consumers from unwanted and invasive credit solicitations."

The bill is supported by a broad range of sponsors, including both Democrats and Republicans such as Representatives Gabe Amo, Mark E. Amodei, and others. It also has substantial bicameral backing, with a similar Senate bill previously introduced by Senators Bill Hagerty and Jack Reed. Reed stated that, "Consumers should not get needlessly ‘spammed’ with unsolicited, predatory offers just because they take a necessary step in the homebuying process."

Financial and consumer advocacy groups such as the Independent Community Bankers of America and the Mortgage Bankers Association are backing the bill. Jim Nabors, President of the National Association of Mortgage Brokers, expressed support for the legislation, highlighting its consumer protections.

Representative Rose serves Tennessee's Sixth Congressional District and is currently in his fourth term. He resides in Lancaster on his family farm with his wife and two children.