Bill > HJ33

This bill is a resolution urging the U.S. Congress to take action against mortgage trigger leads, which are unsolicited credit offers generated when a potential homebuyer applies for a mortgage. The resolution highlights the negative impacts of these trigger leads on consumers, describing them as a public nuisance that subjects individuals to harassment through constant emails, mail, texts, and phone calls. The Montana Legislature argues that these leads can range from merely annoying to potentially fraudulent, potentially enabling identity theft. The resolution criticizes the federal Fair Credit Reporting Act and the Consumer Financial Protection Bureau for failing to effectively regulate trigger leads, noting that the current opt-out mechanisms are ineffective. Specifically, the bill calls on the U.S. Congress to either curtail or eliminate trigger leads altogether, and at minimum, remove federal preemption that prevents states like Montana from protecting their citizens from these unsolicited credit solicitations. As a formal step, the resolution requires the Secretary of State to send a copy of this resolution to each member of the Montana Congressional Delegation to ensure the message is communicated directly to federal representatives.

Business and Industry

https://bills.legmt.gov/#/laws/bill/2/LC4382