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CHARLOTTE, N.C. , Sept. 9, 2025 /PRNewswire/ -- LendingTree, Inc. (NASDAQ: TREE): In a major bipartisan victory for consumer privacy, the Homebuyer Privacy Protection Act, also known as the Trigger Leads Bill, was signed into law on Friday. The legislation protects mortgage applicants from a flood of unsolicited offers and communications.

Introduced by Reps. John Rose (R-TN) and Ritchie Torres (D-NY), with a Senate companion from Sens. Bill Hagerty (R-TN) and Jack Reed (D-RI), the bill passed both chambers unanimously before heading to the President's desk.

The law amends the Fair Credit Reporting Act to strengthen consumer privacy by prohibiting consumer reporting agencies from selling or distributing these trigger leads unless the requesting party has the consumer's explicit permission or a pre-existing relationship. This includes entities servicing the consumer's current mortgage or holding their bank account.

A growing concern among the homebuying industry, trigger leads are prescreened consumer reports that are generated when someone applies for a mortgage. This consumer financial data is often sold to lenders who then bombard consumers with unsolicited communication through phone calls, emails, text messages, and physical mail. A LendingTree survey found that 56% of people who applied for some form of a financial loan received between 10-50 unsolicited communications.

"Trigger leads treat consumers as sales targets, not as people making one of the most important decisions of their lives," said Congressman Ritchie Torres, co-sponsor. "With this law, we're putting privacy and consumer choice ahead of predatory practices."

The same survey found that 83% of people who received a trigger lead were bothered by them with nearly 17% admitting that the unwanted calls, emails, etc. created more confusion when attempting to acquire a loan. By curbing the misuse of personal financial data, the Homebuyer Privacy Protection Act helps ensure consumers can make clear, confident mortgage decisions that are free from pressure, confusion, or manipulation.

"This is a big deal for Tennesseans and all Americans," Representative John Rose said, the bill's chief sponsor. "I am elated that my bill received broad support in the House and Senate and truly honored that President Trump signed it into law. The homebuying process is difficult enough without a barrage of calls and messages. I am proud to bring an end to these unsolicited sales tactics and restore privacy for homebuyers."

The legislation's unanimous bipartisan support is rare in today's divided Congress and underscores a shared commitment to protecting American homebuyers from predatory data practices. LendingTree applauds the leadership of Senators Bill Hagerty (R-TN) and Jack Reed and Representatives John Rose (R-TN) and Ritchie Torres (D-NY), as well as Senate Banking Committee Chair Tim Scott (R-SC) and Congressman Tim Moore (R-NC).

"This bill is a clear example of what can happen when we put consumers first," said Congressman Tim Moore. "By closing the door on abusive trigger lead practices, we're giving families the privacy and peace of mind they deserve during one of life's most important financial decisions."

The legislation also received widespread backing from consumer advocacy and industry groups, including the Mortgage Bankers Association, Brokerage Action Coalition, and companies like LendingTree, which played a leading role in the bill's advancement.

"It's a major win for transparency, trust, and homebuyers everywhere. For years, consumers have faced an uphill battle when applying for a mortgage with the flood of unsolicited calls and pressure tactics from lenders not associated with their search," says LendingTree Chairman and CEO Doug Lebda. "The Homebuyer Privacy Protection Act puts control back in the hands of consumers and helps them make smart, confident financial decisions without being harassed."

 This historic, bipartisan effort reflects a shared commitment across government, industry, and advocacy groups to protect Americans from predatory practices and ensure a safer, more transparent homebuying experience for all.

"This legislation is a testament to what's possible when our industry not only shares the same goal but works together to achieve it." says Brendan McKay President of the Brokers Action Coalition. "It's a win for brokers, lenders, and most importantly, consumers, made possible through true collaboration."

"This new law will help protect consumers from the barrage of unwanted calls, texts and emails that they too often receive immediately after applying for a mortgage." Said Bob Broeksmit President and CEO of the Mortgage Bankers Association. "It marks a major victory for borrowers and will create a more efficient, responsible and respectful home buying process."

The homebuyer protection act has 180 days to be implemented and goes into effect in March of 2026.

About LendingTree, Inc.

LendingTree (NASDAQ: TREE) is one of the nation's largest, most experienced online financial platforms, created to give consumers the power to win financially.  LendingTree provides customers with access to the best offers on loans, credit cards, insurance and more through its network of over 600 financial partners.  Since its founding, LendingTree has helped millions of customers obtain financing, save money, and improve their financial and credit health in their personal journeys. With a portfolio of innovative products and tools and personalized financial recommendations, LendingTree helps customers achieve everyday financial wins.

LendingTree, Inc. is headquartered in Charlotte, NC. For more information, please visit www.lendingtree.com.

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