Consumer Credit
US Congress 116th Congress
Disaster Protection for Workers’ Credit Act of 2020 [S.3508]
Generally provides credit protections to consumers during the COVID-19 (i.e., coronavirus disease 2019) outbreak and other major disasters. The bill prohibits furnishers of credit information from reporting adverse credit information that is the result of any inaction or action that occurred during the COVID-19 outbreak. It also prohibits any such reporting regarding a consumer who resides in an area covered by a major disaster declaration. Credit reporting agencies are prohibited from including in a credit report any such adverse credit information.
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Coronavirus Guidance for Financial Institutions Act [HB-6265]
Directs the Federal Reserve Board, the Consumer Financial Protection Bureau, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the National Credit Union Administration to report on the effectiveness of the joint release issued by federal and state financial regulators on March 9, 2020, encouraging financial institutions to meet the needs of customers affected by the coronavirus (i.e., the virus that causes COVID-19).
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US Congress 116th Congress
Touchless Transactions Act of 2020 [HB-6241]
Prohibits an issuer of an electronic fund transfer from requiring an individual's signature for a point-of-sale transfer that is initiated by a swipe, dip, or tap transaction.
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US Congress 116th Congress
Consumer Financial Protection Commission Act [HB-6116]
Removes the Consumer Financial Protection Bureau from the Federal Reserve System, converts the bureau into an independent commission, and modifies its leadership structure. Specifically, the bill eliminates the positions of director and deputy director and establishes a five-person commission appointed by the President and confirmed by the Senate.
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US Congress 116th Congress
Consumer Financial Education and Empowerment Act [HB-6012]
Establishes within the Consumer Financial Protection Bureau a program to award grants to certain nonprofit organizations, state governments, and local governments for financial literacy programs. Programs eligible for grants may include education regarding credit, student loan debt, homeownership, investments, retirement, or starting a business.
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Utah 2020 General Session
Credit Reporting Notification Amendments [HB-412]
Credit Reporting Notification Amendments
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Utah 2020 General Session
Use of Credit Information Amendments [HB-352]
Use of Credit Information Amendments
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US Congress 116th Congress
Data Protection Act of 2020 [S.3300]
Establishes in the executive branch an independent Data Protection Agency (DPA) to regulate the processing of personal data. The DPA shall seek to protect individuals' privacy and limit the collection, disclosure, processing, and misuse of individuals' personal data by a covered entity (i.e., a person that collects, processes, or otherwise obtains personal data other than an individual processing personal data in the course of personal or household activity). The DPA must examine and oversee high-risk data practices, which include a systematic or
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Utah 2020 General Session
Consumer Lending Amendments [HB-319]
Consumer Lending Amendments
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US Congress 116th Congress
To amend the Fair Credit Reporting Act to prohibit the creation and sale of trigger leads, and for other purposes. [HB-5720]
Prohibits credit reporting agencies from providing a credit report not initiated by a consumer if the report is being provided on the basis that the consumer has had a credit inquiry regarding a home mortgage loan. This practice, known as producing a trigger lead, provides notice to other mortgage lenders that the consumer is seeking a mortgage loan.
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US Congress 116th Congress
Fair Credit Reporting for Servicemembers Act [HB-5677]
Revises consumer credit protections for servicemembers. Among other things, the bill (1) extends consumer credit protections to certain active duty uniformed consumers in a combat zone or aboard a U.S. vessel, and (2) prohibits the inclusion on a consumer report of adverse credit information that occurred while a uniformed consumer was engaged in that type of active duty. The bill also adds to those groups covered by specified active duty credit protections individuals in the commissioned corps of the National Oceanic and Atmospheric Administration
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Maine 129th Legislature
An Act To Increase the Efficiency of Certain Consumer Credit Protection Laws [SB-1767]
An Act To Increase the Efficiency of Certain Consumer Credit Protection Laws
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US Congress 116th Congress
Improving Credit Reporting for All Consumers Act [HB-3642]
Generally modifies requirements related to consumer credit reporting. Specifically, it revises the dispute process for consumers challenging information contained on their credit report, establishes an appeals process for disputed information, and establishes the right to injunctive relief. The bill also requires additional disclosures from credit reporting agencies and furnishers of credit information, prohibits automatic renewals for promotional consumer credit products and services, and makes other related changes. Additionally, the bill directs
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US Congress 116th Congress
Unsolicited Loan Act of 2019 [S.3036]
Prohibits a lender from providing an unsolicited loan check or similar instrument to a consumer. Additionally, a consumer is not liable for any debt incurred from such an instrument.
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US Congress 116th Congress
Protecting Your Credit Score Act of 2020 [HB-5332]
Revises provisions related to consumer credit reports and credit reporting agencies. (Sec. 2) Credit reporting agencies are directed to create a central online portal that allows consumers to (1) access free credit reports and credit scores, (2) dispute errors, and (3) place or lift security freezes. (Sec. 3) Credit reporting agencies must verify specified identifying information when adding credit information to a consumer's file. Credit reporting agencies must also perform periodic audits of credit reports to ensure accuracy. (Sec. 4) A credit
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US Congress 116th Congress
Consumer Protection for Medical Debt Collections Act [HB-5330]
Restricts the inclusion of medical debt on a consumer credit report. A consumer reporting agency is prohibited from including on a consumer credit report, and a person is prohibited from reporting to such agency (1) medical debt arising from a medically necessary procedure, or (2) other medical debt less than a year old. A person reporting medical debt to a consumer reporting agency must first provide notice to that consumer regarding the restrictions on including medical debt on credit reports. Furthermore, a debt collector is prohibited from collecting
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US Congress 116th Congress
Student Borrower Protections Act of 2019 [HB-5294]
Places requirements on lenders, servicers, or assignees of postsecondary education loans, establishes standards for reporting student loan information to consumer reporting agencies, and requires certification of certain educational lenders. Specifically, the bill establishes rules for lenders, servicers, or assignees of postsecondary education loans, including requirements related to (1) the sale, transfer, or assignment of such loans; (2) interest rate and term changes for such loans; (3) payment information required to be included with each billing
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US Congress 116th Congress
Airline Passengers' Bill of Rights [S.2341]
Expands protections for passengers in air transportation. Among other things, the bill requires the Department of Transportation to implement regulations relating to protections for airline passengers from being required to involuntarily relinquish their seats, unless necessary for safety or security; the elimination of the dollar limitations on compensation to passengers denied boarding due to overbooking; compensation to passengers for delayed or cancelled flights; interline agreements between air carriers and other transportation providers; training
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US Congress 116th Congress
Shutdown Guidance for Financial Institutions Act [S.2919]
Directs financial regulators—including the Federal Reserve Board, the Consumer Financial Protection Bureau, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the National Credit Union Administration—to issue guidance relating to a government shutdown. Among other things, financial regulators must issue guidance encouraging financial institutions to modify loan terms and to extend credit to consumers and businesses affected by a shutdown, and to take steps to prevent the reporting of adverse credit information
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US Congress 116th Congress
Veterans and Consumers Fair Credit Act [S.2833]
Applies certain military consumer credit protections to all consumers. Specifically, the bill caps the interest rate on extensions of consumer credit at 36%.