Consumer Credit
US Congress 116th Congress
The Heroes Act [HB-8406]
[Budget and Spending ]
[Funding ]
[Grants ]
[Disaster Relief ]
Making emergency supplemental appropriations for the fiscal year ending September 30, 2021, and for other purposes.
Sponsored by: Rep. Raul M. Grijalva
Introduced In House on 09/29/2020
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Parent PLUS Loan Fairness and Responsibility Act [HB-8400]
[Student Loans ]
[Education ]
To amend the Higher Education Act of 1965 to allow certain Federal student loans to be transferred from a parent to a child, and for other purposes.
Sponsored by: Rep. Bill Foster
Introduced In House on 09/25/2020
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GUIDE Compliance Act Give Useful Information to Define Effective Compliance Act [S.4692]
[Consumer Protection ]
[Finance ]
Sets forth procedures for the issuance of guidance from the Consumer Financial Protection Bureau. Guidance includes written interpretive rules, bulletins, statements of policy, and other generally applicable authoritative documents that are not regulatory actions. The bureau must publish the types of guidance it will provide, the criteria used for selecting the type of guidance, the process for requests for guidance, the process for amending or revoking guidance, and guidelines for determining civil monetary penalties for a violation of consumer
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Sponsored by: Sen. Thom Tillis
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 09/24/2020
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Family Crisis Cash Assistance Act [HB-8387]
[Budget and Spending ]
[Disaster Relief ]
[Economic Development ]
[Funding ]
[Grants ]
[Human Services ]
[Poverty ]
[Public Health ]
[Social Security ]
[Family-Related Legislation ]
[Healthcare ]
Provides funding for the Department of Health and Human Services (HHS) to establish a program within 30 days that provides monthly cash-assistance payments to low- and moderate-income households during economic downturns or disasters. This funding is exempt from sequestration, a process of automatic spending reductions under which budgetary resources are permanently cancelled to enforce specific budget policy goals. During any month the Department of Labor determines that a state or territory is in an economic downturn or the Federal Emergency Management
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Sponsored by: Rep. Barbara Lee
Introduced In House on 09/24/2020
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Strengthening Consumer Protections and Medical Debt Transparency Act [S.4697]
[Consumer Protection ]
[Healthcare ]
[Public Health ]
A bill to amend the Public Health Service Act to provide additional transparency and consumer protections relating to medical debt collection practices.
Sponsored by: Sen. Chris Van Hollen
Read Twice And Referred To The Committee On Health, Education, Labor, And Pensions. on 09/24/2020
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Coronavirus E-BD Act of 2020 Coronavirus Emergency Borrower Defense Act of 2020 [HB-8316]
[Student Loans ]
[Education ]
[Consumer Protection ]
[Funding ]
[Grants ]
[Public Health ]
Requires the Department of Education (ED) to discharge, within 30 days, the federal student loan debt of three categories of borrowers. Specifically, ED must discharge the federal student loan debt of a borrower (1) who is covered by ED findings against an institution of higher education (IHE) for job placement rate misrepresentation; (2) for whom a state attorney general has asserted a right to borrower defense discharge; or (3) who was subject to a misrepresentation made by the IHE related to guaranteed employment or transferability of credits,
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Sponsored by: Rep. Mark Takano
Introduced In House on 09/18/2020
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Examining Educational Redlining in Lending Act [HB-8039]
[Consumer Protection ]
[Education ]
[Finance ]
[Student Loans ]
[Data Privacy ]
Requires the Consumer Financial Protection Bureau to annually assess and report on the use of educational data in determining a consumer's creditworthiness by an individual offering a consumer financial product or service.
Sponsored by: Rep. Marcia L. Fudge
Introduced In House on 08/14/2020
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RELIEF Act Rent Emergencies Leave Impacts on Evicted Families Act [S.4519]
[Housing ]
[Consumer Protection ]
[Finance ]
[Healthcare ]
[Budget and Spending ]
[Real Estate ]
[Disaster Relief ]
[Public Health ]
Generally revises housing protections established in response to the COVID-19 (i.e., coronavirus disease 2019) pandemic, including by expanding protections for renters and mortgage holders, providing consumer protections regarding credit reports and utility access, and increasing oversight regarding housing protections. Among other things, the bill prohibits all evictions and foreclosures for one year; prohibits increases in rent; provides an 18-month grace period for missed rent payments; prohibits landlords and mortgage servicers from reporting
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Sponsored by: Sen. Kamala D. Harris
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 08/10/2020
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Young Americans Financial Literacy Act [HB-7953]
[Consumer Protection ]
[Education ]
[Funding ]
[Grants ]
[Student Loans ]
[Children and Youth ]
[Finance ]
Requires the Consumer Financial Protection Bureau to award competitive grants to eligible institutions for the establishment of financial literacy education programs for young people and families. An eligible institution is a partnership among two or more of the following an institution of higher education; a state or local government agency specializing in financial education; a nonprofit agency, organization, or association; a financial institution; or another small organization. Authorized grant funded activities shall include developing and
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Sponsored by: Rep. Andre Carson
Introduced In House on 08/07/2020
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Federal Reserve Racial and Economic Equity Act [S.4464]
[Finance ]
[Race and Civil Rights ]
[Economic Development ]
[Labor, Jobs, Employment ]
[Poverty ]
Requires the Federal Reserve Board to carry out its duties in a manner that supports the elimination of racial and ethnic disparities in employment, income, wealth, and access to affordable credit. The board must report on disparities in labor force trends as well as on plans and activities of the board to minimize and eliminate these disparities.
Sponsored by: Sen. Jack Reed
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 08/06/2020
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Tenant Protection Act [S.4471]
[Housing ]
[Consumer Protection ]
[Data Privacy ]
[Real Estate ]
Prohibits a credit reporting agency from creating a report containing a landlord-tenant court or other housing court record unless the case resulted in a judgment of possession, the decision is not being appealed, and the record is not more than three years old. If a person takes an adverse action against a consumer based upon a housing court record contained in a credit report, the person must provide the consumer a free copy of the report. A person who willfully creates a credit report that contains an inaccurate housing record is civilly liable
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Sponsored by: Sen. Cory A. Booker
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 08/06/2020
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Federal Reserve Racial and Economic Equity Act [HB-7946]
[Finance ]
[Race and Civil Rights ]
[Economic Development ]
[Labor, Jobs, Employment ]
[Poverty ]
Requires the Federal Reserve Board to carry out its duties in a manner that supports the elimination of racial and ethnic disparities in employment, income, wealth, and access to affordable credit. The board must report on disparities in labor force trends as well as on plans and activities of the board to minimize and eliminate these disparities.
Sponsored by: Rep. Gregory W. Meeks
Introduced In House on 08/04/2020
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HELP Act of 2020 Housing Emergencies Lifeline Program Act of 2020 [S.4399]
[Housing ]
[Consumer Protection ]
[Law Enforcement ]
[Funding ]
[Grants ]
[Human Services ]
[Public Safety ]
[Community Development ]
[Poverty ]
[Real Estate ]
Requires the Department of Housing and Urban Development (HUD) to establish a database of information regarding evictions from federally assisted dwellings, limits the inclusion of information relating to landlord-tenant actions in consumer reports, and otherwise provides eviction-related assistance and services. Specifically, the bill requires states and local entities receiving federal housing assistance to submit to HUD, for inclusion in the database, certain information regarding evictions from assisted dwelling units in the past year. Such
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Sponsored by: Sen. Kamala D. Harris
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 08/03/2020
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HELP Act of 2020 Housing Emergencies Lifeline Program Act of 2020 [HB-7847]
[Housing ]
[Consumer Protection ]
[Law Enforcement ]
[Human Services ]
[Funding ]
[Grants ]
[Public Safety ]
[Community Development ]
[Data Privacy ]
Requires the Department of Housing and Urban Development (HUD) to establish a database of information regarding evictions from federally assisted dwellings, limits the inclusion of information relating to landlord-tenant actions in consumer reports, and otherwise provides eviction-related assistance and services. Specifically, the bill requires states and local entities receiving federal housing assistance to submit to HUD, for inclusion in the database, certain information regarding evictions from assisted dwelling units in the past year. Such
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Sponsored by: Rep. Gerald E. Connolly
Introduced In House on 07/29/2020
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Financial Compensation for CFPB Whistleblowers Act [HB-7793]
[Finance ]
[Consumer Protection ]
[Law Enforcement ]
[Funding ]
Requires the Consumer Financial Protection Bureau to provide rewards to whistleblowers who report information relating to a violation of consumer financial law resulting in certain monetary sanctions greater than or equal to $500,000. Specifically, the bureau must award compensation to whistleblowers for 10%-30% of the collected monetary sanctions. In cases where the bureau is unable to collect at least $1 million of the imposed sanctions, the bureau must award any single whistleblower 10% of the amount collected or $50,000, whichever is greater.
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Sponsored by: Rep. Al Green
Introduced In House on 07/27/2020
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Consumer Relief during COVID–19 Act [HB-7796]
[Consumer Protection ]
[Healthcare ]
[Finance ]
[Public Health ]
Places restrictions on the collection of consumer debts during the COVID-19 (i.e., coronavirus disease 2019) emergency period and for 120 days after this period. Among other things, debt collectors may not during this period enforce a security interest through a repossession, seize assets, commence or continue an eviction, terminate utility service, or charge fees or apply a higher interest rate as a result of nonpayment. After this period, debt collectors must provide certain repayment options including extending the repayment period for debts.
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Sponsored by: Rep. Joyce Beatty
Introduced In House on 07/27/2020
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Business of Insurance Regulatory Reform Act of 2020 [S.4325]
[Insurance ]
[Consumer Protection ]
[Finance ]
Revises the authority of the Consumer Financial Protection Bureau (CFPB) over activities regulated by a state insurance regulator. The CFPB may not pursue enforcement against any person regulated by a state insurance regulator and offering a consumer financial product or service, to the extent that person is engaged in the business of insurance. If a person engaged in the business of insurance is regulated by a state insurance regulator but otherwise subject to the CFPB's enforcement authority, the CFPB must construe its authority narrowly.
Sponsored by: Sen. Joe Manchin
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 07/27/2020
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Medical Bankruptcy Fairness Act of 2020 [S.4305]
[Healthcare ]
[Consumer Protection ]
A bill to amend title 11, United States Code, to provide bankruptcy protections for medically distressed debtors, and for other purposes.
Sponsored by: Sen. Sheldon Whitehouse
Read Twice And Referred To The Committee On The Judiciary. on 07/23/2020
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Student Loan Fairness Act [S.4237]
[Student Loans ]
[Education ]
[Budget and Spending ]
A bill to extend zero interest rate benefits and payment suspension to all Federal student loan borrowers, and for other purposes.
Sponsored by: Sen. Jack Reed
Read Twice And Referred To The Committee On Health, Education, Labor, And Pensions. (sponsor Introductory Remarks On Measure: Cr S4351) on 07/21/2020
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Jobs and Neighborhood Investment Act [S.4255]
[Community Development ]
[Economic Development ]
[Finance ]
[Funding ]
[Grants ]
[Housing ]
[Labor, Jobs, Employment ]
[Poverty ]
[Small Business ]
Establishes investment programs and generally revises provisions related to community development financial institutions and minority depository institutions. The Department of the Treasury must establish a Neighborhood Capital Investment Program to facilitate direct capital investments in low- and moderate-income community financial institutions. To qualify for the program, these institutions must, among other things, (1) demonstrate specified lending history regarding low-and moderate-income borrowers and other targeted populations, and (2) provide
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Sponsored by: Sen. Cory A. Booker
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 07/21/2020