Iowa HSB150 prohibits financial institutions from using deceptive practices when soliciting consumers with prescreened mortgage trigger lead.

Iowa HSB150 establishes rules for financial institutions using prescreened mortgage trigger lead information from consumer reports to solicit consumers. The bill defines an unfair or deceptive practice as failing to clearly state the institution is not affiliated with the consumer's initial application, not conforming to state and federal law, using information from consumers who opted out of prescreened offers, or changing rates, terms, or costs to the consumer's detriment. Violations are considered unlawful practices under Code section 714.16.

Iowa HSB150 prohibits financial institutions from using deceptive practices when soliciting consumers with prescreened mortgage trigger lead.

Iowa HSB150 establishes rules for financial institutions using prescreened mortgage trigger lead information from consumer reports to solicit consumers. The bill defines an unfair or deceptive practice as failing to clearly state the institution is not affiliated with the consumer's initial application, not conforming to state and federal law, using information from consumers who opted out of prescreened offers, or changing rates, terms, or costs to the consumer's detriment. Violations are considered unlawful practices under Code section 714.16.