Iowa SSB1145 regulates financial institutions' use of prescreened consumer report data in mortgage solicitations.

Iowa SSB1145 establishes rules for financial institutions using prescreened mortgage trigger lead information from consumer reports to solicit consumers. The bill prohibits unfair or deceptive practices, including failing to disclose non-affiliation with the consumer's initial lender, not conforming to state and federal laws, 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 state law.

Iowa SSB1145 regulates financial institutions' use of prescreened consumer report data in mortgage solicitations.

Iowa SSB1145 establishes rules for financial institutions using prescreened mortgage trigger lead information from consumer reports to solicit consumers. The bill prohibits unfair or deceptive practices, including failing to disclose non-affiliation with the consumer's initial lender, not conforming to state and federal laws, 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 state law.