Bill Description: House Bill 149 would impose additional regulations on advertisements for mortgage lenders.

Rating: -1

Does it give government any new, additional, or expanded power to prohibit, restrict, or regulate activities in the free market? Conversely, does it eliminate or reduce government intervention in the market?

House Bill 149 would create Section 26-31-211A, Idaho Code, to impose additional regulations on mortgage lenders who engage in advertising based on mortgage trigger leads. These leads are based on consumer credit applications. 

The bill would require lenders to "clearly and conspicuously state in the initial phase of the solicitation" that the solicitor is "not affiliated with the lender or broker with which the consumer initially applied" and that "the solicitation is based on personal information about the consumer that was purchased, directly or indirectly, from a consumer reporting agency."

Lenders would also be forbidden to send solicitations to consumers who "have opted out of prescreened offers of credit under the federal fair credit reporting act" or to make calls to consumers who "have placed their contact information on a federal or state 'do-not-call' list."

The state should not regulate communication in the free market, nor should it enforce federal laws and regulations that infringe on free speech within the market.

(-1)