Consumer Credit
US Congress 111th Congress
Fairness for Homeowners Act of 2009 [S.863]
[Finance ]
[Real Estate ]
[Housing ]
[Consumer Protection ]
[Insurance ]
Fairness for Homeowners Act of 2009 - Amends the Truth in Lending Act to prohibit a creditor or mortgage broker from arranging a consumer credit transaction secured by the principal dwelling of a consumer without first verifying the consumer's reasonable ability to to make the scheduled payments of principal, interest (including variable interest), real estate taxes, homeowner's insurance, assessments, and mortgage insurance premiums. Prescribes criteria to: (1) determine such consumer's reasonable ability to pay a variable interest rate; and (2)
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Sponsored by: Sen. Amy Klobuchar
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 04/22/2009
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Improving Access to Mainstream Financial Institutions Act of 2009 [S.786]
[Finance ]
[Consumer Protection ]
[Labor, Jobs, Employment ]
[Poverty ]
[Funding ]
[Grants ]
[Native American Affairs ]
[Small Business ]
Improving Access to Mainstream Financial Institutions Act of 2009 - Authorizes the Secretary of the Treasury to award grants, including multi-year grants, to specified eligible entities to establish an account in a federally insured depository institution for low- and moderate-income individuals who currently do not have such an account. Includes among such eligible entities: (1) Alaska Native Corporations; (2) Native Hawaiian organizations; and (3) labor organizations. Authorizes the Secretary to award demonstration project grants to eligible entities
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Sponsored by: Sen. Charles E. Schumer
Sponsor Introductory Remarks On Measure. (cr S4316-4317) on 04/02/2009
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Consumer Rental-Purchase Agreement Act of 2009 [S.738]
[Consumer Protection ]
[Finance ]
[Crime ]
[Law Enforcement ]
Consumer Rental-Purchase Agreement Act of 2009 - Amends the Consumer Credit Protection Act to prescribe consumer protection guidelines for rental-purchase transactions, including: (1) the determination of rental-purchase cost; (2) disclosure requirements; (3) prohibitions against confessions of judgment, wage assignments, and waiver of consumer claims or defenses; (4) furnishing of statements of account; (5) point-of-rental disclosures; and (6) rental-purchase advertising disclosures.Declares that an action for civil liability may be brought against
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Sponsored by: Sen. Roger F. Wicker
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 03/30/2009
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Helping Families Save Their Homes in Bankruptcy Act of 2009 [S.61]
[Housing ]
[Real Estate ]
[Finance ]
[Consumer Protection ]
[Law Enforcement ]
Helping Families Save their Homes in Bankruptcy Act of 2009 - Amends federal bankruptcy law governing a Chapter 13 debtor (adjustment of debts of an individual with regular income). Excludes from computation of debts the secured or unsecured portions of: (1) debts secured by the debtor's principal residence if the current value of that residence is less than the secured debt limit; or (2) debts secured or formerly secured by debtor's principal residence that was either sold in foreclosure or surrendered to the creditor if the current value of such
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Sponsored by: Sen. Jack Reed
Sponsor Introductory Remarks On Measure. (cr S64-66) on 01/06/2009
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Taxpayer Abuse Prevention Act [S.585]
[Taxes ]
[Consumer Protection ]
[Budget and Spending ]
[Finance ]
[Poverty ]
Taxpayer Abuse Prevention Act - Amends the Internal Revenue Code to provide that advance payments of the earned income tax credit are not transferable or assignable or subject to the claims of any creditors, except outstanding claims of the federal government.Prohibits: (1) the collection of a debt from a debtor's federal tax refund by means of a refund anticipation loan; and (2) mandatory arbitration as a condition of providing a refund anticipation loan.Terminates the Department of the Treasury Debt Indicator Program. Allows earned income tax
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Sponsored by: Sen. Jeff Merkley
Sponsor Introductory Remarks On Measure. (cr S3078) on 03/12/2009
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Interest Rate Reduction Act [S.582]
[Consumer Protection ]
[Finance ]
Interest Rate Reduction Act - Amends the Truth in Lending Act to prohibit the annual percentage rate of interest (APR) applicable to any extension of credit to a consumer from exceeding 15% on unpaid balances, inclusive of all finance charges. Authorizes the Board of Governors of the Federal Reserve System to establish an APR ceiling exceeding the 15% annual rate for periods not to exceed 18 months, upon a determination that: (1) money market interest rates have risen over the preceding six-month period; and (2) prevailing interest rate levels threaten
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Sponsored by: Sen. Bernard Sanders
Sponsor Introductory Remarks On Measure. (cr S3076-3077) on 03/12/2009
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Financial Product Safety Commission Act of 2009 [S.566]
[Finance ]
[Consumer Protection ]
Financial Product Safety Commission Act of 2009 - Establishes the Financial Product Safety Commission to: (1) promulgate consumer financial product safety rules; (2) establish a best practices guide for all providers of consumer financial products; (3) conduct continuing studies and investigations of consumer financial products industry practices; (4) award grants or enter into contracts for the conduct of such studies and investigations; (5) assist public and private organizations or groups of consumer financial product providers, administratively
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Sponsored by: Sen. Bernard Sanders
Sponsor Introductory Remarks On Measure. (cr S2974-2975) on 03/10/2009
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Pharmaceutical Market Access and Drug Safety Act of 2009 [S.525]
[Pharmaceuticals ]
[Healthcare ]
[Consumer Protection ]
[Public Health ]
[Trade ]
Pharmaceutical Market Access and Drug Safety Act of 2009 - Amends the Federal Food, Drug, and Cosmetic Act (FFDCA) to revise provisions governing the importation of prescription drugs. Waives the limitation on importation of prescription drugs that have been exported from the United States. Prohibits the importation of a qualifying drug unless such drug is imported by: (1) a registered importer; or (2) an individual for personal use. Establishes registration conditions for importers and exporters. Requires the Secretary of Health and Human Services
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Sponsored by: Sen. Robert P. Casey
Sponsor Introductory Remarks On Measure. (cr S2780-2781) on 03/05/2009
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Protecting Consumers from Unreasonable Credit Rates Act of 2009 [S.500]
[Consumer Protection ]
[Finance ]
[Crime ]
Protecting Consumers from Unreasonable Credit Rates Act of 2009 - Amends the Truth in Lending Act to prohibit a creditor from extending credit to a consumer under an open end consumer credit plan (credit card) for which the fee and interest rate exceeds 36%. Sets forth criminal penalties for violation of this Act. Empowers state Attorneys General to enforce this Act. Revises requirements for a periodic statement for each billing cycle with respect to where the total finance charge exceeds 50 cents for a monthly or longer billing cycle, or the pro
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Sponsored by: Sen. Sheldon Whitehouse
Sponsor Introductory Remarks On Measure. (cr S2570-2571, S2572-2573) on 02/26/2009
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Credit Card Accountability Responsibility and Disclosure Act of 2009 [S.414]
[Consumer Protection ]
[Finance ]
[Data Privacy ]
Credit Card Accountability Responsibility and Disclosure Act of 2009 or the Credit CARD Act of 2009 - (Sec. 3) States that this Act shall become effective nine months after its date of enactment. Title I: Consumer Protection - Amends the Truth in Lending Act to require advance notice of any increase in the annual percentage rate of interest (APR) pertaining to a credit card account under an open end consumer credit plan. Requires such advance notice to include a statement of the obligor's right to cancel the account before the effective date of
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Sponsored by: Sen. Robert P. Casey
By Senator Dodd From Committee On Banking, Housing, And Urban Affairs Filed Written Report. Report No. 111-16. on 05/04/2009
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Universal Default Prohibition Act of 2009 [S.399]
[Consumer Protection ]
[Finance ]
Universal Default Prohibition Act of 2009 - Amends the Truth in Lending Act to prohibit a creditor from: (1) using any adverse information concerning any consumer, including any in a consumer report or any change in the consumer's credit score, as the basis for increasing any annual percentage rate of interest (APR) for a credit card account of the consumer's under an open end consumer credit plan; or (2) removing or increasing any introductory APR for that account, for reasons other than actions or omissions of the consumer directly related to
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Sponsored by: Sen. Jon Tester
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 02/09/2009
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Credit Card Reform Act of 2009 [S.392]
[Consumer Protection ]
[Finance ]
Credit Card Reform Act of 2009 - Amends the Fair Credit Reporting Act to permit a consumer reporting agency to furnish a consumer report in connection with any credit or insurance transaction that is not initiated by the consumer only if the report indicates that the consumer is age 21 or older. Allows 18-year olds to elect to have their name and address included in any agency list. Amends the Truth in Lending Act to prohibit a credit card issuer from changing the terms of a credit card under an open end consumer credit plan: (1) before the scheduled
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Sponsored by: Sen. Robert Menendez
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 02/06/2009
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Data Security and Breach Notification Act of 2010 [S.3742]
[Consumer Protection ]
[Cybersecurity ]
[Data Privacy ]
[Technology and Innovation ]
[Law Enforcement ]
[Public Safety ]
[Crime ]
Data Security and Breach Notification Act of 2010 - Requires the Federal Trade Commission (FTC) to promulgate regulations requiring each covered entity (proprietorships, partnerships, estates, trusts, cooperatives, and nonprofit and for-profit corporations) engaged in interstate commerce owning or possessing data containing personal information to establish specified security policies and procedures to treat and protect such information. Requires the regulations to include methods for disposing of both electronic and nonelectronic data. Requires
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Sponsored by: Sen. John D. Rockefeller
Committee On Commerce, Science, And Transportation Subcommittee On Consumer Protection, Product Safety, And Insurance . Hearings Held. With Printed Hearing: S.hrg. 111-1040. on 09/22/2010
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Financial Services and General Government Appropriations Act, 2011 [S.3677]
[Finance ]
[Budget and Spending ]
[Taxes ]
[Telecommunications ]
[Consumer Protection ]
[Small Business ]
[Insurance ]
[Law Enforcement ]
[National Security ]
[Public Safety ]
[Healthcare ]
[Technology and Innovation ]
[Trade ]
[Elections ]
[Criminal Justice ]
[Public Health ]
[Education ]
[Cybersecurity ]
[Data Privacy ]
[Economic Development ]
[Ethics ]
[Funding ]
[Grants ]
[Human Services ]
[Medicare and Medicaid ]
[Overdose Prevention ]
[Pharmaceuticals ]
[Poverty ]
[Property Tax ]
[Senior Citizens ]
[Social Security ]
[Unemployment ]
[Veterans ]
[Voting Rights ]
[Workers' Compensation ]
[Children and Youth ]
[Community Development ]
[Construction ]
[Defense ]
[Disaster Relief ]
[Energy ]
[Environmental ]
[Family-Related Legislation ]
[Housing ]
[Labor, Jobs, Employment ]
[Libraries ]
[Military ]
[Public Lands and National Parks ]
[Real Estate ]
[Transportation and Motor Vehicles ]
[Crime ]
Financial Services and General Government Appropriations Act, 2011 - Title I: Department of the Treasury - Department of the Treasury Appropriations Act, 2011 - Makes appropriations for FY2011 for the Department of the Treasury for: (1) departmental offices; (2) department-wide systems and capital investments programs; (3) the Office of Inspector General; (4) the Treasury Inspector General for Tax Administration; (5) the Office of the Special Inspector General for the Troubled Asset Relief Program (TARP); (6) the Financial Crimes Enforcement Network;
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Sponsored by: Sen. Richard Durbin
Committee On Appropriations. Original Measure Reported To Senate By Senator Durbin. With Written Report No. 111-238. on 07/29/2010
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Home Star Energy Retrofit Act of 2010 [S.3434]
[Energy ]
[Housing ]
[Taxes ]
[Construction ]
[Environmental ]
[Climate Change ]
[Consumer Protection ]
[Budget and Spending ]
Home Star Energy Retrofit Act of 2010 - Requires the Secretary of Energy to establish: (1) the Home Star Retrofit Rebate Program to provide rebates to contractors to be passed through as discounts to homeowners who retrofit their homes to achieve energy savings; (2) a Federal Rebate Processing System to enable rebate aggregators to submit claims for reimbursement; and (3) a national retrofit website and public information campaign that provide information on the Program. Requires the Secretary to ensure that rebates are available to homeowners within
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Sponsored by: Sen. Dianne Feinstein
Sponsor Introductory Remarks On Measure. (cr S4531) on 05/27/2010
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Medical Debt Relief Act of 2010 [S.3419]
[Healthcare ]
[Consumer Protection ]
[Finance ]
Medical Debt Relief Act of 2010 - Amends the Fair Credit Reporting Act to prohibit a consumer reporting agency from making any report containing information related to a fully paid or settled medical debt that had been characterized as delinquent, charged off, or in collection which, from the date of payment or settlement, antedates the report by more than 45 days.
Sponsored by: Sen. Dianne Feinstein
Sponsor Introductory Remarks On Measure. (cr S4220-4221) on 05/25/2010
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A bill to amend the Fair Credit Reporting Act to provide for an exclusion from Red Flag Guidelines for certain businesses. [S.3416]
[Consumer Protection ]
[Healthcare ]
[Small Business ]
[Data Privacy ]
Amends the Fair Credit Reporting Act with respect to the duties of users of consumer reports who take adverse actions on the basis of information contained in such reports. Excludes any health care practice, accounting practice, or legal practice with 20 or fewer employees from the meaning of creditor subject to Red Flag Guidelines regarding identity theft promulgated by the proper federal financial regulatory agency. Excludes any other business which the Federal Trade Commission (FTC) determines: (1) knows all its customers or clients individually;
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Sponsored by: Sen. John Thune
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 05/25/2010
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✔
Restore Online Shoppers' Confidence Act [S.3386]
[Consumer Protection ]
[Technology and Innovation ]
[Data Privacy ]
Restore Online Shoppers' Confidence Act - Defines "post-transaction third party seller" as a person that: (1) sells, or offers for sale, any good or service on the Internet; (2) solicits purchases on the Internet through an initial merchant after the consumer has initiated a transaction with the initial merchant; and (3) is not the initial merchant, a subsidiary or corporate affiliate of the initial merchant, or a successor to the initial merchant or subsidiary. Makes it unlawful for any post-transaction third party seller to charge or attempt to
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Sponsored by: Sen. Claire McCaskill
Signed By President. on 12/29/2010
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A bill to amend the Internal Revenue Code of 1986 to allow an above-the-line deduction against individual income tax for interest on indebtedness and for State sales and excise taxes with respect to the purchase of certain motor vehicles. [S.333]
[Taxes ]
[Transportation and Motor Vehicles ]
[Consumer Protection ]
Amends the Internal Revenue Code to allow individual taxpayers a deduction from gross income for: (1) interest paid on indebtedness (up to $49,500) incurred after November 12, 2008, and before January 1, 2010, for the purchase of a motor vehicle (i.e., passenger automobile or light truck) with a gross vehicle weight rating of not more than 8,500 pounds; and (2) state and local sales and excise taxes imposed on the purchase of such a motor vehicle.
Sponsored by: Sen. Benjamin L. Cardin
Read Twice And Referred To The Committee On Finance. on 01/27/2009
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Debt Settlement Consumer Protection Act of 2010 [S.3264]
[Consumer Protection ]
[Finance ]
[Law Enforcement ]
[Funding ]
Debt Settlement Consumer Protection Act of 2010 - Amends the Consumer Credit Protection Act to prohibit debt settlement providers from providing a debt settlement service or receiving a fee from a consumer without a signed written contract meeting specified requirements. Prohibits debt settlement providers from engaging in certain acts or practices, including: (1) making loans or offering credit or soliciting or accepting any note, mortgage, or negotiable instrument other than a check signed by the consumer and dated no later than the date of signature;
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Sponsored by: Sen. Claire McCaskill
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 04/27/2010