Consumer Credit
US Congress 116th Congress
Student Borrower Protections Act of 2019 [HB-5294]
[Student Loans ]
[Consumer Protection ]
[Education ]
[Funding ]
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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Airline Passengers' Bill of Rights [S.2341]
[Transportation and Motor Vehicles ]
[Consumer Protection ]
[Public Safety ]
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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Shutdown Guidance for Financial Institutions Act [S.2919]
[Finance ]
[Budget and Spending ]
[Consumer Protection ]
[Small Business ]
[Economic Development ]
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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Veterans and Consumers Fair Credit Act [S.2833]
[Consumer Protection ]
[Veterans ]
[Finance ]
Applies certain military consumer credit protections to all consumers. Specifically, the bill caps the interest rate on extensions of consumer credit at 36%.
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Veterans and Consumers Fair Credit Act [HB-5050]
[Veterans ]
[Consumer Protection ]
[Finance ]
[Military ]
Applies certain military consumer credit protections to all consumers. Specifically, the bill caps the interest rate on extensions of consumer credit at 36%.
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Fair Debt Collection Improvement Act [HB-5034]
[Consumer Protection ]
[Finance ]
Prohibits a debt collector from collecting a consumer debt if the applicable statute of limitations has expired.
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Small Business Fair Debt Collection Protection Act [HB-5013]
[Small Business ]
[Consumer Protection ]
[Finance ]
Applies consumer debt collection protections to small businesses, including protections regarding debt collection methods and third-party debt collection.
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Ending Debt Collection Harassment Act of 2019 [HB-5021]
[Consumer Protection ]
[Finance ]
[Technology and Innovation ]
[Data Privacy ]
Prohibits a debt collector from sending electronic communications to a consumer without the consumer's consent. The Consumer Financial Protection Bureau (CFPB) may not issue rules that allow a debt collector to send unlimited electronic communications. Additionally, the CFPB must report on consumer complaints about electronic communications and enforcement actions taken against debt collectors.
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Student Loan Default Reduction Program Act [HB-4869]
[Student Loans ]
[Consumer Protection ]
Provides for the removal of any adverse credit history related to a federal student loan from a borrower's credit once the borrower has completed default rehabilitation.
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Consumer Credit Control Act of 2019 [S.2685]
[Consumer Protection ]
[Data Privacy ]
[Finance ]
[Insurance ]
Requires a consumer's affirmative informed consent before a consumer reporting agency may share that consumer's report with third parties for specified purposes. A consumer reporting agency must verify a consumer's identity when obtaining this consent. (Currently, this sharing is generally allowed unless a consumer opts out.) If the consumer provides consent, a consumer reporting agency may share information with a third party for an extension of credit, or the underwriting of insurance. A consumer reporting agency may provide a consumer report
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Identity Theft Victims Protection Act of 2019 [S.2631]
[Consumer Protection ]
[Crime ]
[Data Privacy ]
[Law Enforcement ]
Requires credit reporting agencies, upon request of a victim of identity theft, to include the resulting negative credit information on the credit report of a defendant found guilty of such identity theft.
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Monitoring and Curbing Abusive Debt Collection Practices Act [HB-4664]
[Consumer Protection ]
[Finance ]
[Data Privacy ]
Prohibits the Consumer Financial Protection Bureau (CFPB) from issuing rules that allow a debt collector to send unlimited electronic communications to a consumer. Additionally, the CFPB must report on consumer complaints about debt collection and enforcement actions taken against debt collectors.
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Open Banking Study Act of 2019 [HB-4047]
[Finance ]
[Technology and Innovation ]
[Consumer Protection ]
[Data Privacy ]
Directs the Federal Reserve Board, the Consumer Financial Protection Bureau, the Government Accountability Office, the Federal Deposit Insurance Corporation, and the National Credit Union Administration to report jointly on their respective regulated entities' processes for third-party access to consumer-authorized financial data.
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Private Loan Disability Discharge Act of 2019 [HB-4545]
[Student Loans ]
[Taxes ]
[Healthcare ]
[Disabilities ]
Directs the holder of a private education loan to discharge the loan in the event of the borrower's death or total and permanent disability. The obligation of a cosigner for a private education loan is also discharged in the event of total and permanent disability of the borrower. The bill also extends indefinitely the exclusion of student loan debt discharge from gross income for federal income tax purposes.
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Ensuring Fair Legal Recourse for Private Student Loan Borrowers Act [HB-4544]
[Student Loans ]
[Consumer Protection ]
Invalidates a predispute arbitration agreement if it requires arbitration of a dispute relating to a private education loan.
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Small Business Credit Protection Act of 2019 [HB-4480]
[Small Business ]
[Consumer Protection ]
[Data Privacy ]
[Cybersecurity ]
[Technology and Innovation ]
Establishes requirements related to breaches of data belonging to small businesses. Specifically, a consumer reporting agency must promptly report any breach of nonpublic small business data. In the event of a breach, a consumer reporting agency may not charge a small business for a credit report. Additionally, the Government Accountability Office must report on the economic harm to small businesses resulting from data breaches at consumer reporting agencies.
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Clean Slate through Consolidation Act [HB-4395]
[Student Loans ]
[Consumer Protection ]
[Education ]
[Data Privacy ]
Requires the Department of Education (ED) to have a record of default removed from a borrower's credit history in certain circumstances. Specifically, when a borrower obtains a Federal Direct Consolidation Loan discharging the borrower's liability on a defaulted student loan, ED must request a consumer reporting agency remove the record of default from the borrower's credit history.
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Clean Slate through Repayment Act of 2019 [HB-4396]
[Student Loans ]
[Consumer Protection ]
[Education ]
Requires the Department of Education (ED) to have a record of default removed from a borrower's credit history in certain circumstances. Specifically, when a borrower repays in full the amount due on a defaulted student loan, ED must request a consumer reporting agency remove the record of default from the borrower's credit history.
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Clean Slate through Repayment Act of 2019 [HB-4396]
[Student Loans ]
[Consumer Protection ]
[Education ]
Requires the Department of Education (ED) to have a record of default removed from a borrower's credit history in certain circumstances. Specifically, when a borrower repays in full the amount due on a defaulted student loan, ED must request a consumer reporting agency remove the record of default from the borrower's credit history.
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VA Overpayment Accountability Act [HB-4360]
[Veterans ]
[Technology and Innovation ]
[Consumer Protection ]
[Cybersecurity ]
[Data Privacy ]
[Funding ]
[Grants ]
[Public Safety ]
(Sec. 2) prescribes procedures by which the Department of Veterans Affairs (VA) and debt collectors shall correct errors submitted to consumer reporting agencies about the indebtedness of certain veterans. Specifically, the bill requires these corrections for veterans who are indebted due to participation in a VA benefits program. (Sec. 3) The bill also requires the VA to update its information technology for the processing of VA benefits. (Sec. 4) Lastly, the bill requires the VA to self-audit to determine the frequency by which overpayments are
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