After sitting on the sidelines last year, credit bureaus are gearing up for a struggle against the proposed legislation
After a narrow defeat last year, the Homebuyers Privacy Protection Act has been introduced in both the US House of Representatives and the Senate. And while supporters of the trigger leads bill are optimistic of the bill’s passage this year, they also know the battle against detractors will be far more difficult this time.
Brendan McKay (pictured top), chief advocacy officer at the Broker Action Coalition (BAC), said bill supporters were able to sneak up on the credit bureaus during last year’s attempt to pass the trigger leads bill. He said they are ready for the fight this year.
“One of the problems that we have this year that we didn't have in the beginning last year is that the credit bureaus are ready for it [now],” McKay told Mortgage Professional America.
“In past years, they could simply sit on the sidelines because prior to last Congress, it had been introduced before and not really gotten any traction. And last Congress, they assumed it would just be more of the same, and they didn't have to be the bad guy because they don't really have a great argument to stand on.
“This go-around, they are lobbying against it from the jump. So, we're going to have to navigate that.”
McKay believes that even in a time when political turmoil seems to make daily headlines, and economic policy continues to divide the nation, banning trigger leads should appeal across party lines.
“We've already had some conversations with congressional offices that you know have talked to their friends at one credit bureau or the other,” McKay said. “We are on the right side of this argument, though, and that does still matter in DC – not always as much as people would like it to, but it does matter.”
“Trying to muddy the waters”
McKay believes the argument made by the Consumer Data Industry Association (CDIA) that the trigger leads ban doesn’t deal with phone calls is an attempt to derail the passage of the bill.
“The argument you've seen out of CDIA in publications, and that we know they've been making on the Hill as well, is that this doesn't address the problem,” McKay said. “(They said) the problem is phone calls. That is a statement I vehemently disagree with. I don't think phone calls are the problem. I do not even think that trigger leads are the problem.
“I think they're a symptom of the problem. The problem is that credit bureaus are allowed to sell consumer data without their permission.”
The Homebuyers Privacy Protection Act has been reintroduced to Congress, targeting the practice of mortgage trigger leads. BAC’s Brendan McKay and MBA’s Bob Broeksmit had advocated for the bill, stressing the importance of consumer privacy protection.https://t.co/0FaAEUTwyn
— Mortgage Professional America Magazine (@MPAMagazineUS) April 11, 2025
The bills introduced two weeks ago are similar to the ones introduced last year in both the House and Senate. McKay notes there are between 60 and 70 co-sponsors of the bill, with more being added daily.
Despite falling just short a year ago, McKay knows that legislation often doesn’t pass in its first attempt.
“So we have a lot of positive reasons to be encouraged,” McKay said. “Most bills don't pass on the first try. Passing federal legislation is difficult, and it is normal to get really close the first time, or even a couple of times, before finally pushing through. It actually passed in the Senate and came close in the House.
“While technically there's a new bill, you're not starting from scratch, you have all that momentum. You can say this passed the Senate, and that that makes legislators comfortable with it quickly.”
Brokers contacting representatives is critical for passage
Passing legislation in the United States is rarely a sprint. It must pass through committees before it can be voted on by Congress. If the bill successfully navigates committees, it could reach the House and Senate floors in a few months.
“Step one is getting the bill marked up in House Financial Services,” McKay said. “Some legislators hope to have that in the first committee hearing possible, which could be in the next month or two, but it could get pushed back. The committee has a lot that they need to focus on, a lot of crypto stuff and things like that happening as well.”
The BAC, along with other organizations backing the trigger leads bill, has call-to-action forms on its websites. These help brokers and other constituents deliver a message to Congress in support of the bill.
“Complete the call to action,” McKay said. “You can email your members of Congress in 30 seconds. I cannot overstress how important it is that everyone takes the time to do that. It matters so much more than people think. They represent their constituents, not just industry groups. They want our expertise, but would love to hear how their constituents feel about it.
“The more they hear from industry groups and individual constituents, the better. That is an absolute truth.”
McKay and the BAC are optimistic that this bill will eventually pass and be signed into law. It may take some time, but they hope the second time is the charm.
“We’re incredibly optimistic,” McKay said. “It's something that everyone on the planet that doesn't work for representing credit bureau think should happen, which means it should happen. We’re going to fight like we're desperate up until the President signs it, so we're not, we're not given an inch.
“We're brokers. We're ready for a fight, and we're going to keep pushing until it happens.”
Stay updated with the freshest mortgage news. Get exclusive interviews, breaking news, and industry events in your inbox, and always be the first to know by subscribing to our FREE daily newsletter.
