Consumer Credit
US Congress 116th Congress
Arbitration Fairness for Consumers Act [S.630]
[Consumer Protection ]
[Finance ]
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.
Sponsored by: Sen. Richard Blumenthal
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 02/28/2019
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Residential Rent to Own Protection Act [S.571]
[Housing ]
[Consumer Protection ]
[Real Estate ]
[Finance ]
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.
Sponsored by: Sen. Jeff Merkley
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 02/26/2019
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Self-Employed Mortgage Access Act of 2019 [S.540]
[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.
Sponsored by: Sen. Cory Booker
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 02/25/2019
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Protect Federal Workers' Credit Act [S.535]
[Consumer Protection ]
[Finance ]
[Labor, Jobs, Employment ]
[Data Privacy ]
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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Sponsored by: Sen. Mark Warner
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 02/14/2019
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Improving Access to Traditional Banking Act of 2019 [HB-1285]
[Finance ]
[Consumer Protection ]
[Poverty ]
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.
Sponsored by: Rep. Eleanor Norton
Introduced In House on 02/14/2019
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Data Accountability and Trust Act [HB-1282]
[Consumer Protection ]
[Data Privacy ]
[Technology and Innovation ]
[Cybersecurity ]
[Law Enforcement ]
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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Sponsored by: Rep. Yvette Clarke
Referred To The Subcommittee On Consumer Protection And Commerce. on 02/15/2019
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Federal Employee Credit Score Protection Act of 2019 [HB-1286]
[Consumer Protection ]
[Finance ]
[Labor, Jobs, Employment ]
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.
Sponsored by: Rep. James McGovern
Introduced In House on 02/14/2019
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Protecting Employees' Security Clearances Act of 2019 [S.464]
[Labor, Jobs, Employment ]
[National Security ]
[Budget and Spending ]
[Consumer Protection ]
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.
Sponsored by: Sen. Dianne Feinstein
Read The Second Time. Placed On Senate Legislative Calendar Under General Orders. Calendar No. 23. on 02/13/2019
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BUILD Act Building Up Independent Lives and Dreams Act [S.371]
[Housing ]
[Nonprofit ]
[Real Estate ]
[Consumer Protection ]
Allows nonprofit organizations offering mortgage loans for charitable purposes to use certain alternative forms to satisfy disclosure requirements.
Sponsored by: Sen. Angus King
Became Public Law No: 116-342. on 01/13/2021
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Small Business Credit Protection Act [S.84]
[Small Business ]
[Data Privacy ]
[Consumer Protection ]
[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.
Sponsored by: Sen. Marco Rubio
Committee On Small Business And Entrepreneurship. Hearings Held. on 02/13/2019
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Federal Employees Civil Relief Act [S.72]
[Labor, Jobs, Employment ]
[Budget and Spending ]
[Law Enforcement ]
Establishes a framework to temporarily suspend certain judicial and administrative proceedings against a federal employee or contractor during a lapse in appropriations.
Sponsored by: Sen. Jack Reed
Read Twice And Referred To The Committee On Finance. on 01/09/2019
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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]
[Finance ]
[Consumer Protection ]
[Budget and Spending ]
[Economic Development ]
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.
Sponsored by: Rep. Maxine Waters
Ms. Waters Moved To Suspend The Rules And Agree To The Resolution, As Amended. on 01/29/2019
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Family Savings Act of 2019 [HB-1084]
[Taxes ]
[Family-Related Legislation ]
[Retirement ]
[Education ]
[Children and Youth ]
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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Sponsored by: Rep. Darin LaHood
Introduced In House on 02/07/2019
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BUILD Act Building Up Independent Lives and Dreams Act [HB-1060]
[Housing ]
[Nonprofit ]
[Real Estate ]
[Consumer Protection ]
Allows nonprofit organizations offering mortgage loans for charitable purposes to use certain alternative forms to satisfy disclosure requirements.
Sponsored by: Rep. Nydia Velazquez
Received In The Senate And Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 05/15/2019
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PARITY Act of 2019 Preserving Access to Rural Installment Transactions for Years Act of 2019 [HB-1036]
[Finance ]
[Real Estate ]
[Housing ]
[Small Business ]
[Consumer Protection ]
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.
Sponsored by: Rep. Denver Riggleman
Introduced In House on 02/07/2019
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Retirement Enhancement and Savings Act of 2019 [HB-1007]
[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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Sponsored by: Rep. Mike Johnson
Introduced In House on 02/06/2019
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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]
[Consumer Protection ]
[Finance ]
[Labor, Jobs, Employment ]
[National Security ]
[Data Privacy ]
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.
Sponsored by: Rep. Raul Grijalva
Introduced In House on 02/04/2019
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North American Wetlands Conservation Extension Act [HB-925]
[Environmental ]
[Public Lands and National Parks ]
[Animals ]
[Water ]
[Funding ]
[Grants ]
Reauthorizes the North American Wetlands Conservation Act through FY2024.
Sponsored by: Rep. Mike Johnson
On Motion To Concur In The Senate Amendments With An Amendment Agreed To By The Yeas And Nays: 214 - 207 (roll No. 214). (text: Cr H5202-5417) on 10/01/2020
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Federal Worker Credit Protection Act of 2019 [HB-799]
[Consumer Protection ]
[Labor, Jobs, Employment ]
[Data Privacy ]
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.
Sponsored by: Rep. James Langevin
Introduced In House on 01/25/2019
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Middle Class Health Benefits Tax Repeal Act of 2019 [HB-748]
[Healthcare ]
[Finance ]
[Small Business ]
[Labor, Jobs, Employment ]
[Taxes ]
[Budget and Spending ]
[Public Health ]
[Education ]
[Medicare and Medicaid ]
[Unemployment ]
[Economic Development ]
[Funding ]
[Grants ]
[Insurance ]
[Technology and Innovation ]
[Telecommunications ]
[Consumer Protection ]
[Senior Citizens ]
[Pharmaceuticals ]
[Housing ]
[Real Estate ]
[Pensions ]
[Workers' Compensation ]
[Family-Related Legislation ]
[Children and Youth ]
[Data Privacy ]
[Cybersecurity ]
[Artificial Intelligence ]
[Science ]
[Law Enforcement ]
[National Security ]
[Military ]
[Defense ]
[Transportation and Motor Vehicles ]
[Air Quality ]
[Energy ]
[Trade ]
[Manufacturing ]
[Mental Health ]
[Overdose Prevention ]
[Property Tax ]
[Public Safety ]
[Retirement ]
[Veterans ]
[Community Development ]
[Disaster Relief ]
[Inflation ]
[Investments ]
[Poverty ]
[Social Security ]
[Climate Change ]
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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Sponsored by: Rep. Alexander Mooney
Committee On Small Business And Entrepreneurship. Hearings Held. on 07/23/2020