Iowa HF857 prohibits financial institutions from using unfair or deceptive practices when soliciting consumers using prescreened mortgage trigger.

Iowa HF857 establishes rules for financial institutions using prescreened mortgage trigger lead information from consumer reports to solicit consumers. The bill defines "mortgage trigger lead" as a consumer report obtained under the federal Fair Credit Reporting Act, triggered by an inquiry in response to a consumer applying for a loan with a different financial institution.

Iowa HF857 prohibits financial institutions from using unfair or deceptive practices when soliciting consumers using prescreened mortgage trigger.

Iowa HF857 establishes rules for financial institutions using prescreened mortgage trigger lead information from consumer reports to solicit consumers. The bill defines "mortgage trigger lead" as a consumer report obtained under the federal Fair Credit Reporting Act, triggered by an inquiry in response to a consumer applying for a loan with a different financial institution.