Security | Trigger Leads

When you apply for a loan and one lender checks your credit, The Fair Credit Reporting Act allows credit reporting agencies to sell your data to other lenders.

Under the Fair Credit Reporting Act (FCRA), the Consumer Credit Reporting Companies are permitted to include your name on lists used by creditors or insurers to make firm offers of credit or insurance that are not initiated by you.*

Encouraging competition so customers have more choices is, theoretically, a pro-consumer action. The reality can be quite different.

While your data should only be sold to reputable financial institutions, unscrupulous businesses often find ways to get their hands on it and distribute deceptive communications.

Consumers have reported being bombarded by offers, some of which are misleading as to the identity of the sender and validity of the offer. The situation has become so abusive that the National Association of Mortgage Brokers is currently supporting a Congressional bill, The Trigger Leads Abatement Act of 2023, to change the law. It proposes to generally prohibit trigger leads for residential mortgages.

Right now, the only way to escape the flood of competing offers is by opting out before applying for a loan.

For a quick, no-cost way to opt out of lists supplied by Equifax, Experian, Innovis, and TransUnion, call OptOutPrescreen.com at 1-888-567-8688 or visit their website. . You may opt out electronically for five years or permanently by mail, both at no charge.

To stop unwanted calls to landlines and mobile phones, call 1-888-382-1222 or sign up for the National Do Not Call Registry. This will not ban companies with which you already do business or that have received your prior written consent. It also does not prevent calls from political groups, charities, debt collectors, and more.†

If you have questions or need help opting out, our team of experienced banking professionals would be glad to lend a hand. Call 1-800-344-2274 or stop into any of our 11 convenient branch locations.