Consumer Credit
US Congress 116th Congress
SHIELD for Veterans Act of 2020 Stopping Harm and Implementing Enhanced Lead-time for Debts for Veterans Act of 2020 Veteran Debt Fairness Act of 2019 [S.805]
Limits the authority of the Department of Veterans Affairs (VA) to recover overpayments of benefits from veterans. Among other requirements, the VA must update its information technology systems to allow for expedited notification when a veteran incurs a debt via participation in a VA benefits program. The VA may only deduct the amount of debt of any veteran who is in debt because of participation in a VA benefits program from future benefit payments if the debt is the result of the following: failure to report correct, required information to the
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Freedom Financing Act [S.821]
Restricts certain banks, credit unions, and payment card networks from refusing to do business with a person based on reputational considerations.
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Preventing Credit Score Discrimination in Auto Insurance Act [HB-1756]
Prohibits the use of a credit report, a credit score, or other consumer information in determining auto insurance coverage or rates.
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Equality Act [S.788]
Prohibits discrimination based on sex, sexual orientation, and gender identity in areas including public accommodations and facilities, education, federal funding, employment, housing, credit, and the jury system. Specifically, the bill defines and includes sex, sexual orientation, and gender identity among the prohibited categories of discrimination or segregation. The bill expands the definition of public accommodations to include places or establishments that provide (1) exhibitions, recreation, exercise, amusement, gatherings, or displays; (2)
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American Housing and Economic Mobility Act of 2019 [HB-1737]
Addresses housing affordability and availability, makes certain changes to the estate and gift taxes, and contains other related provisions. The Department of Housing and Urban Development shall provide grants to (1) state and local governments that remove unnecessary barriers to building affordable units, (2) states to assist borrowers who have negative equity in their homes, (3) state housing finance agencies to construct affordable rental housing and prevent tenant displacement and harassment, and (4) eligible individuals (generally, lower income
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American Housing and Economic Mobility Act of 2019 [S.787]
Addresses housing affordability and availability, makes certain changes to the estate and gift taxes, and contains other related provisions. The Department of Housing and Urban Development shall provide grants to (1) state and local governments that remove unnecessary barriers to building affordable units, (2) states to assist borrowers who have negative equity in their homes, (3) state housing finance agencies to construct affordable rental housing and prevent tenant displacement and harassment, and (4) eligible individuals (generally, lower income
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Equality Act [HB-5]
Prohibits discrimination based on sex, sexual orientation, and gender identity in a wide variety of areas including public accommodations and facilities, education, federal funding, employment, housing, credit, and the jury system. Specifically, the bill defines and includes sex, sexual orientation, and gender identity among the prohibited categories of discrimination or segregation. The bill expands the definition of public accommodations to include places or establishments that provide (1) exhibitions, recreation, exercise, amusement, gatherings,
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CFPB Student Loan Integrity and Transparency Act of 2019 [S.720]
Requires the Department of Education (ED) to provide information related to student loans to the Consumer Financial Protection Bureau (CFPB). The bill prohibits ED from entering into an agreement with a contractor or vendor that services student loans unless the contractor or vendor agrees to provide requested information to the CFPB. It also requires the CFPB to maintain adequate staffing levels to carry out its duties.
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SAFE Lending Act of 2019 Stopping Abuse and Fraud in Electronic Lending Act of 2019 [HB-1509]
Revises requirements related to consumer financial protection and small-dollar lending, including matters concerning remotely created checks, electronic fund transfers, registration of small-dollar lenders, overdraft fees, and the collection of personal information. Under the bill, remotely created checks may only be issued by a person specifically designated in writing by a consumer and provided to the consumer's depository institution. (A remotely created check is a check not issued by the bank and not signed by the account owner.) A voluntary
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SAFE Lending Act of 2019 Stopping Abuse and Fraud in Electronic Lending Act of 2019 [HB-1509]
Revises requirements related to consumer financial protection and small-dollar lending, including matters concerning remotely created checks, electronic fund transfers, registration of small-dollar lenders, overdraft fees, and the collection of personal information. Under the bill, remotely created checks may only be issued by a person specifically designated in writing by a consumer and provided to the consumer's depository institution. (A remotely created check is a check not issued by the bank and not signed by the account owner.) A voluntary
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Consumers First Act [HB-1500]
Revises provisions related to the administration of the Consumer Financial Protection Bureau (CFPB). (Sec. 3) The bill amends all statutory references to the "Bureau of Consumer Financial Protection" to refer instead to the "Consumer Financial Protection Bureau." (Sec. 5) Specified units, offices, and boards of the CFPB must perform their assigned duties and may not be renamed or reorganized. The bill establishes requirements for staffing levels, political appointees, and the publication of consumer complaints regarding consumer financial products
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SAFE Lending Act of 2019 Stopping Abuse and Fraud in Electronic Lending Act of 2019 [S.656]
Revises requirements related to consumer financial protection and small-dollar lending, including matters concerning remotely created checks, electronic fund transfers, registration of small-dollar lenders, overdraft fees, and the collection of personal information. Under the bill, remotely created checks may only be issued by a person specifically designated in writing by a consumer and provided to the consumer's depository institution. (A remotely created check is a check not issued by the bank and not signed by the account owner.) A voluntary
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HUBS for Veterans Act of 2019 Helping Unleash Benefits and Services for Veterans Act of 2019 [S.666]
Establishes a grant program to assist the transition of military personnel to civilian life. It directs the Department of Labor to carry out a five-year program of grants to nonprofit organizations that assist the transition of the following persons from Armed Forces service to civilian life: members eligible for preseparation counseling, former members who are transitioning to civilian life, and spouses of such members or former members. Funds must be used for a broad range of supportive programs.
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FAIR Act Forced Arbitration Injustice Repeal Act [HB-1423]
Prohibits a predispute arbitration agreement from being valid or enforceable if it requires arbitration of an employment, consumer, antitrust, or civil rights dispute.
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Stop Foreign Donations Affecting Our Elections Act [HB-1422]
Requires political committees, when accepting a credit card contribution over the internet, to collect the credit card's verification value. The card's billing address must be in the United States unless the contributor is a U.S. citizen living outside of the United States, in which case the contributor must provide his or her voter registration address.
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Forced Arbitration Injustice Repeal Act [S.610]
Prohibits a predispute arbitration agreement from being valid or enforceable if it requires arbitration of an employment, consumer, antitrust, or civil rights dispute.
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Arbitration Fairness for Consumers Act [S.630]
Prohibits a predispute arbitration agreement from being valid or enforceable if it requires arbitration of a dispute related to a consumer financial product or service.
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Residential Rent to Own Protection Act [S.571]
Establishes requirements regarding residential rent-to-own agreements. The bill requires residential property subject to rent-to-own agreements to comply with applicable state and local habitability laws, prohibits eviction of a purchaser of such an agreement except if ordered in a judicial proceeding, requires public documentation of these agreements, and establishes civil penalties for violations. The Consumer Financial Protection Bureau must promulgate regulations under this bill.
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Self-Employed Mortgage Access Act of 2019 [S.540]
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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Protect Federal Workers' Credit Act [S.535]
Generally restricts the inclusion of certain negative credit information on credit reports upon notification that an individual was affected by a federal government shutdown. Specifically, the bill prohibits (1) an individual from reporting such negative credit information to a consumer reporting agency and (2) the inclusion of such negative credit information on a credit report. The Consumer Financial Protection Bureau must maintain a database of affected federal employees and contractors and make the database accessible to consumer reporting agencies.
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