Consumer Credit
US Congress 116th Congress
Joint Consolidation Loan Separation Act [S.1489]
[Student Loans ]
[Family-Related Legislation ]
[Consumer Protection ]
Allows two borrowers, who had previously received a joint consolidation loan for their student debt under the William D. Ford Federal Direct Loan Program, to submit a joint application to sever their consolidated loan. One borrower may submit a separate application in the event that the individual is experiencing domestic or economic abuse from the other individual borrower, or is unable to reasonably reach or access the loan information of the other borrower.
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Free Credit Score Act of 2019 [HB-2753]
[Consumer Protection ]
[Finance ]
[Data Privacy ]
Requires consumer reporting agencies to provide a free credit score to a consumer when providing a free annual consumer report.
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US Congress 116th Congress
Joint Consolidation Loan Separation Act [HB-2728]
[Student Loans ]
[Family-Related Legislation ]
[Consumer Protection ]
Allows two borrowers, who had previously received a joint consolidation loan for their student debt under the William D. Ford Federal Direct Loan Program, to submit a joint application to sever their consolidated loan. One borrower may submit a separate application in the event that the individual is experiencing domestic or economic abuse from the other individual borrower, or is unable to reasonably reach or access the loan information of the other borrower.
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US Congress 116th Congress
Unsubscribe Act of 2019 [HB-2683]
[Consumer Protection ]
[Technology and Innovation ]
[Data Privacy ]
Prohibits negative option agreements online unless the terms provide the consumer with a way to cancel the agreement before incurring further or increased charges. For example, under free-to-pay conversion contracts, where a consumer is initially charged a nominal introductory rate and an increased rate after the introductory period ends, the provider of the good or service must require the consumer to perform an additional action, like clicking a confirmation button, before the increased rate takes effect.The bill also requires that certain notifications
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US Congress 116th Congress
Loan Shark Prevention Act [S.1389]
[Finance ]
[Consumer Protection ]
Limits the annual percentage rate for an extension of consumer credit to 15%. The Federal Reserve Board may raise this rate if (1) money market interest rates rise over six months, and (2) it is necessary to ensure the safety and soundness of lenders.
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US Congress 116th Congress
To amend the Federal Deposit Insurance Act to clarify the definition of a deposit broker, and for other purposes. [HB-2572]
[Finance ]
[Retirement ]
Excludes certain affiliated broker-dealers that service retirement accounts and other similar plans from requirements applicable to brokered deposits.
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US Congress 116th Congress
Data Breach Prevention and Compensation Act of 2019 [HB-2545]
[Cybersecurity ]
[Technology and Innovation ]
[Consumer Protection ]
[Data Privacy ]
[Law Enforcement ]
[Crime ]
Establishes an Office of Cybersecurity within the Federal Trade Commission (FTC). The office must supervise the data security of credit reporting agencies, including through annual examinations. The office must also investigate and enforce suspected violations by credit reporting agencies. The bill also requires notification to the FTC, relevant law enforcement and intelligence agencies, consumers, and the public of a data breach affecting a credit reporting agency.
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US Congress 116th Congress
Student Loan Borrower Bill of Rights [S.1354]
[Student Loans ]
[Consumer Protection ]
A bill to require certain protections for student loan borrowers, and for other purposes.
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US Congress 116th Congress
Data Breach Prevention and Compensation Act of 2019 [S.1336]
[Technology and Innovation ]
[Cybersecurity ]
[Consumer Protection ]
[Data Privacy ]
[Law Enforcement ]
[Crime ]
Establishes an Office of Cybersecurity within the Federal Trade Commission (FTC). The office must supervise the data security of credit reporting agencies, including through annual examinations. The office must also investigate and enforce suspected violations by credit reporting agencies. The bill also requires notification to the FTC, relevant law enforcement and intelligence agencies, consumers, and the public of a data breach affecting a credit reporting agency.
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US Congress 116th Congress
Repeal CFPB Act [S.1335]
[Consumer Protection ]
[Finance ]
Repeals the Consumer Financial Protection Act of 2010, which established the Consumer Financial Protection Bureau.
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US Congress 116th Congress
Self-Employed Mortgage Access Act of 2019 [HB-2445]
[Housing ]
[Real Estate ]
[Finance ]
[Small Business ]
[Consumer Protection ]
Allows creditors to use certain alternative standards when evaluating an applicant's ability to pay for purposes of obtaining a home mortgage.
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US Congress 116th Congress
Protecting Consumers from Unreasonable Credit Rates Act of 2019 [S.1230]
[Consumer Protection ]
[Finance ]
[Crime ]
Prohibits a creditor from extending credit to a consumer under an open end consumer credit plan (i.e., credit card) for which the fee and interest rate exceeds 36%. The bill also sets forth criminal penalties for violations and empowers state Attorneys General to enforce the bill. Credit card billing statements must include the fee and interest rate, displayed as "FAIR," instead of the total finance charge expressed as an annual percentage rate (APR).
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US Congress 116th Congress
Empowering States' Rights To Protect Consumers Act of 2019 [S.1006]
[Consumer Protection ]
[Finance ]
[Taxes ]
Limits the annual percentage rate applicable to any consumer credit transaction (other than a residential mortgage transaction), including any associated fees, to the maximum rate permitted by the laws of the state in which the consumer resides.
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US Congress 116th Congress
Protections in Consumer Lending Act [HB-2324]
[Consumer Protection ]
[Finance ]
[Data Privacy ]
Requires creditors to collect specified demographic information regarding applicants for certain credit transactions (e.g., automobile loans, credit cards, and payday loans) and the outcomes of these applications. The creditor must report this information to the Consumer Financial Protection Bureau (CFPB). The CFPB must use this information to determine whether a creditor is engaging in discriminatory practices and may take enforcement action.
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Protections in Consumer Lending Act [S.1205]
[Consumer Protection ]
[Finance ]
[Data Privacy ]
Requires creditors to collect specified demographic information regarding applicants for certain credit transactions (e.g., automobile loans, credit cards, and payday loans) and the outcomes of these applications. The creditor must report this information to the Consumer Financial Protection Bureau (CFPB). The CFPB must use this information to determine whether a creditor is engaging in discriminatory practices and may take enforcement action.
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US Congress 116th Congress
Protections in Consumer Lending Act [S.1205]
[Consumer Protection ]
[Finance ]
[Data Privacy ]
Requires creditors to collect specified demographic information regarding applicants for certain credit transactions (e.g., automobile loans, credit cards, and payday loans) and the outcomes of these applications. The creditor must report this information to the Consumer Financial Protection Bureau (CFPB). The CFPB must use this information to determine whether a creditor is engaging in discriminatory practices and may take enforcement action.
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US Congress 116th Congress
A resolution to authorize the production of records by the Permanent Subcommittee on Investigations of the Committee on Homeland Security and Governmental Affairs. [SR-139]
[Cybersecurity ]
[Data Privacy ]
[Law Enforcement ]
[Consumer Protection ]
[Crime ]
This resolution authorizes the chairman and ranking minority member of the Permanent Subcommittee on Investigations of the Committee on Homeland Security and Governmental Affairs to provide records of the subcommittee's investigation into the Equifax data breach to the Federal Trade Commission and other law enforcement officials, regulatory agencies, and entities or individuals duly authorized by federal or state governments.
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US Congress 116th Congress
Retirement Enhancement and Savings Act of 2019 [S.972]
[Retirement ]
[Taxes ]
[Small Business ]
[Pensions ]
[Labor, Jobs, Employment ]
[Senior Citizens ]
Modifies requirements for tax-favored retirement savings accounts, employer-provided retirement plans, and retirement benefits for federal judges. With respect to employer-provided plans, the bill modifies requirements regarding multiple employer plans, automatic enrollment and nonelective contributions, loans, terminating or transferring plans, reporting and disclosure rules, nondiscrimination rules, selecting lifetime income providers, and Pension Benefit Guaranty Corporation premiums. The bill also increases the tax credit for small employer
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Shutdown Guidance for Financial Institutions Act [HB-2290]
[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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US Congress 116th Congress
Freedom Financing Act [HB-2079]
[Finance ]
[Consumer Protection ]
[Small Business ]
Restricts certain banks, credit unions, and payment card networks from refusing to do business with a person based on reputational considerations.