Dakotas Credit Unions Celebrate Major Victory with Passage of Homebuyers Privacy Protection Act

Jeff Olson

The Dakota Credit Union Association (DakCU) is proud to announce the passage of the bipartisan Homebuyers Privacy Protection Act (H.R. 2808), signed into law last week by President Donald Trump, which will bring an end to harmful mortgage “trigger leads.” A trigger lead is the sale of a prospective homebuyer’s personal information to other lenders after they apply for a mortgage, often without their knowledge or consent. Both mortgage professionals and consumer advocates have long opposed this practice.

This issue first surfaced when Bismarck-based Capital Credit Union raised concerns over misleading solicitations confusing their members. While America’s Credit Unions had general awareness of the problem, it was North and South Dakota who elevated the issue nationally, driving the conversation forward and rallying support. After major awareness was brought forward by other credit union leagues, America’s Credit Unions was instrumental in advancing the measure following a national address by leagues across the country. The Association of Credit Union Leagues (AACUL) has credited the Dakotas as the originators of this push, a clear recognition that a small but determined region played the leading role in achieving a nationwide solution.

The new law effectively halts the practice of credit bureaus selling prospective homebuyer’s application data to banks and fintechs, which led to hundreds of member complaints and damaged consumer trust. By ending this predatory practice, the act ensures members can once again feel confident that their personal financial data is protected.

“This victory underscores the power of collaboration and the impact that even a small but determined group can have on national policy. What began as a local concernraised by one of our credit unions grew into a national movement to protect consumers’ personal financial data. The passage of the Homebuyers Privacy Protection Act is a testament to the tenacity of credit unions in the Dakotas and across the country who stood up for their members’ right to privacy.” – Jeff Olson, DakCU president/CEO

This victory reflects the tireless work of DakCU committees, advocacy teams, and credit union leaders across the Dakotas. DakCU extends particular thanks to Senator John Thune for leading the charge, and to the entire six-member delegation of North and South Dakota for co-sponsoring and voting for this major bill.

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