Consumer Credit
US Congress 116th Congress
Improving Access to Traditional Banking Act of 2019 [HB-1285]
Establishes in the Consumer Financial Protection Bureau the Office for Under-Banked, Un-Banked, and Underserved Consumers. The office must, in part (1) report on impeding factors for individuals and families that do not participate in the banking system, and (2) develop strategies to increase such participation.
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Data Accountability and Trust Act [HB-1282]
Requires the Federal Trade Commission (FTC) to require certain businesses and other organizations to (1) establish specified information-security practices for the treatment and protection of personal information; and (2) in the event of a security breach involving such information, provide specified notice and offer credit-monitoring services. The FTC must also establish information-security rules specific to information brokers, including (1) requirements regarding post-breach audits and consumer access to information, and (2) prohibitions on
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Federal Employee Credit Score Protection Act of 2019 [HB-1286]
Prohibits a credit score provider from lowering the credit score of certain individuals affected by a federal government shutdown occurring from December 22, 2018, until October 1, 2019. A creditor is also prohibited from denying credit or providing credit on less favorable terms for those individuals.
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Protecting Employees' Security Clearances Act of 2019 [S.464]
Requires an agency, when determining whether to grant or continue a security clearance, to consider a lapse in appropriations (i.e., government shutdown) as a condition that could mitigate a security concern related to financial considerations. An agency is prohibited from revoking a security clearance because of a reduction in credit score or negative information in a consumer credit file due to disrupted income payments arising from a lapse in appropriations.
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BUILD Act Building Up Independent Lives and Dreams Act [S.371]
Allows nonprofit organizations offering mortgage loans for charitable purposes to use certain alternative forms to satisfy disclosure requirements.
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Small Business Credit Protection Act [S.84]
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.
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Federal Employees Civil Relief Act [S.72]
Establishes a framework to temporarily suspend certain judicial and administrative proceedings against a federal employee or contractor during a lapse in appropriations.
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Expressing the sense of Congress that financial institutions and other companies should work proactively with their customers affected by the shutdown of the Federal Government who may be facing short-term financial hardship and long-term damage to their creditworthiness through no fault of their own. [HR-77]
This resolution expresses the sense of Congress that financial institutions and other entities should take steps to mitigate the financial hardships faced by customers and tenants as a result of any federal government shutdown, including the shutdown that began on December 22, 2018.
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Family Savings Act of 2019 [HB-1084]
Modifies requirements for tax-exempt multi-employer and pooled employer retirement plans and expands qualified tuition plans (commonly known as 529 plans) to cover additional programs and expenses. Among other things, the bill treats certain education fellowships and stipend payments as compensation for Individual Retirement Account (IRA) purposes, repeals the maximum age for contributions to a traditional IRA, increases the credit limitation for small employer pension plan startup costs, allows a new tax credit for small employer automatic enrollment
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BUILD Act Building Up Independent Lives and Dreams Act [HB-1060]
Allows nonprofit organizations offering mortgage loans for charitable purposes to use certain alternative forms to satisfy disclosure requirements.
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PARITY Act of 2019 Preserving Access to Rural Installment Transactions for Years Act of 2019 [HB-1036]
Revises the definition of a mortgage originator for the purposes of compliance with registration and compensation requirements. Among other things, it exempts from mortgage originator requirements those lenders providing financing to five (currently three) or fewer properties in a year, including corporations and partnerships that would otherwise be regulated as mortgage originators. The bill also removes the requirement that such lenders, in order to be exempt from these requirements, must verify the buyer's ability to repay the loan.
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Retirement Enhancement and Savings Act of 2019 [HB-1007]
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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To prohibit consumer reporting agencies from including adverse information in certain consumer reports, and from making adverse determinations relating to security clearances, with respect to certain individuals affected by the Government shutdown, and for other purposes. [HB-953]
Prohibits consumer reporting agencies from including certain adverse credit information in a consumer report. Specifically, adverse credit information relating to certain employees affected by a federal government shutdown may not be included in a consumer report. The bill also prohibits the head of an agency from making adverse security clearance or access determinations for an individual solely due to their failure to make debt payments as a result of a federal government shutdown.
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North American Wetlands Conservation Extension Act [HB-925]
Reauthorizes the North American Wetlands Conservation Act through FY2024.
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Federal Worker Credit Protection Act of 2019 [HB-799]
Provides that, upon request by specified employees affected by the federal government shutdown that began on December 22, 2018, individuals are prohibited from reporting certain negative credit information to consumer reporting agencies.
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Middle Class Health Benefits Tax Repeal Act of 2019 [HB-748]
Responds to the COVID-19 (i.e., coronavirus disease 2019) outbreak and its impact on the economy, public health, state and local governments, individuals, and businesses. DIVISION A--KEEPING WORKERS PAID AND EMPLOYED, HEALTH CARE SYSTEM ENHANCEMENTS, AND ECONOMIC STABILIZATION This division establishes the Paycheck Protection Program to provide eight weeks of cash flow assistance to small businesses through federally guaranteed loans to employers who maintain their payroll. Such assistance shall be to cover costs such as payroll, paid sick leave,
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Consolidated Appropriations Act, 2019 [HB-648]
Provides FY2019 appropriations for several federal departments and agencies. It includes 6 of the 12 regular FY2019 appropriations bills: the Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 2019; the Commerce, Justice, Science, and Related Agencies Appropriations Act, 2019; the Financial Services and General Government Appropriations Act, 2019; the Department of the Interior, Environment, and Related Agencies Appropriations Act, 2019; the Department of State, Foreign Operations, and Related
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Federal Employees Civil Relief Act [HB-588]
Establishes a framework to temporarily suspend certain judicial and administrative proceedings against a federal employee or contractor during a lapse in appropriations.
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Financial Protection for Our Military Families Act [HB-442]
Extends the supervisory authority of the Consumer Financial Protection Bureau to credit protections applicable to certain active duty members of the armed forces and their dependents.
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Protecting Consumer Information Act of 2019 [HB-331]
Requires the Federal Trade Commission to review protections of customer information against cyber threats. The bill includes provisions related to investigations, enforcement, and regulations that apply to consumer reporting agencies.