SB 933: California Financing Law: mortgage trigger lead information.

This bill would prohibit financial institutions from engaging in unfair, deceptive, or abusive acts or practices in the use of mortgage trigger lead information, which includes certain consumer credit information related to a real estate-secured loan application. The bill would require financial institutions to clearly and conspicuously disclose to consumers at the initial point of contact that they are not affiliated with the consumer's original lender or broker. A violation of these provisions would be considered an unlawful, unfair, or deceptive business practice. Consumers who suffer a violation could bring a private right of action for damages, injunctive relief, and reasonable attorney's fees. The bill also authorizes the attorney general, commissioner of financial protection and innovation, and local prosecutors to enforce this section.