You applied for a loan with JBT. Now you’re receiving telemarketing calls and mailers from other lenders. If you think that’s more than a coincidence, you’re right. And we can explain why.
First, we want to assure you JBT did not, and will not, sell your information to any third party for marketing purposes!
Q: Why are you getting these calls and mailers?
A: As is the standard industry due-diligence practice, when someone submits a loan application we request a credit report and credit score from the three major credit bureaus (Equifax, Experian, TransUnion). The three national credit bureaus all have event-based trigger programs which identify individuals who are in the market for a loan. Other lenders then purchase the information and reach out to those individuals in an attempt to win their business before the loan closes. That’s why you are getting calls, mailers, etc.
Q: Are these event-based trigger programs legal?
A: Yes, while understandably annoying to most people, event-based trigger programs are legal. These programs comply with the regulations in the Fair Credit Reporting Act. Lenders then have the ability to purchase the information from the credit bureaus, which often includes name, address, type of inquiry, credit score and other information. Phone numbers are not included, but lenders can purchase phone numbers from a third-party provider.
Q: If I applied for a loan at another financial institution or loan provider, would I be getting calls and mailers from JBT because of these same event-based trigger programs?
A: No! JBT does not engage in that practice.
Q: Can I stop the calls and mailers?
A: You can call 1-888-567-8688 (1-888-5-OPTOUT) or visit www.optoutprescreen.com for details. The phone number and website are operated by the major credit bureaus. Requests to opt out are processed within 5 days, though it may take up to 60 days before you stop receiving offers. NOTE: You may still get offers that come from lists generated by sources other than the credit bureaus’ event-based trigger programs.