3.0.0 1182 2022-02-03T05:30:02Z 2022-02-03T05:30:02Z House H HR 2005-03-09 109 hsba00 Financial Services Committee House Standing hsba04 Housing and Insurance Subcommittee Referred to 2005-05-13T16:05:13Z hsba15 Consumer Protection and Financial Institutions Subcommittee Referred to 2005-05-13T15:56:37Z Referred to 2005-03-09T15:01:45Z 2005-05-13 hsba04 Housing and Insurance Subcommittee 1 House committee actions Referred to the Subcommittee on Housing and Community Opportunity. Committee 2005-05-13 hsba15 Consumer Protection and Financial Institutions Subcommittee 1 House committee actions Referred to the Subcommittee on Financial Institutions and Consumer Credit. Committee 2005-04-19 Sponsor introductory remarks on measure. (CR H2110-2111) IntroReferral B00100 9 Library of Congress 2005-03-09 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2005-03-09 Introduced in House IntroReferral Intro-H 9 Library of Congress 2005-03-09 Introduced in House IntroReferral 1000 9 Library of Congress M001154 Rep. Miller, Brad [D-NC-13] Brad Miller D NC 13 N W000207 Rep. Watt, Melvin L. [D-NC-12] MELVIN WATT D NC 12 2005-03-09 True F000339 Rep. Frank, Barney [D-MA-4] BARNEY FRANK D MA 4 2005-03-09 True P000523 Rep. Price, David E. [D-NC-4] DAVID PRICE D NC E. 4 2005-04-21 False M000087 Rep. Maloney, Carolyn B. [D-NY-14] CAROLYN MALONEY D NY B. 14 2005-04-21 False C001038 Rep. Crowley, Joseph [D-NY-7] JOSEPH CROWLEY D NY 7 2005-04-21 False C001049 Rep. Clay, Wm. Lacy [D-MO-1] WM. CLAY D MO LACY 1 2005-04-21 False B000490 Rep. Bishop, Sanford D., Jr. [D-GA-2] SANFORD BISHOP D GA D. 2 2005-04-21 False L000551 Rep. Lee, Barbara [D-CA-9] BARBARA LEE D CA 9 2005-04-21 False R000053 Rep. Rangel, Charles B. [D-NY-15] CHARLES RANGEL D NY B. 15 2005-04-21 False S000185 Rep. Scott, Robert C. "Bobby" [D-VA-3] Robert Scott D VA C. "Bobby" 3 2005-04-21 False L000287 Rep. Lewis, John [D-GA-5] JOHN LEWIS D GA 5 2005-04-21 False J000284 Rep. Jones, Stephanie Tubbs [D-OH-11] STEPHANIE JONES D OH TUBBS 11 2005-04-21 False B001251 Rep. Butterfield, G. K. [D-NC-1] G. K. Butterfield D NC 1 2005-04-21 False M001160 Rep. Moore, Gwen [D-WI-4] Gwen Moore D WI 4 2005-04-21 False C000984 Rep. Cummings, Elijah E. [D-MD-7] ELIJAH CUMMINGS D MD E. 7 2005-04-21 False M000523 Rep. McKinney, Cynthia A. [D-GA-4] CYNTHIA MCKINNEY D GA A. 4 2005-04-21 False J000032 Rep. Jackson-Lee, Sheila [D-TX-18] SHEILA JACKSON-LEE D TX 18 2005-04-21 False K000180 Rep. Kilpatrick, Carolyn C. [D-MI-13] CAROLYN KILPATRICK D MI CHEEKS 13 2005-04-21 False C000537 Rep. Clyburn, James E. [D-SC-6] JAMES CLYBURN D SC E. 6 2005-04-21 False P000149 Rep. Payne, Donald M. [D-NJ-10] DONALD PAYNE D NJ M. 10 2005-04-21 False W000794 Rep. Watson, Diane E. [D-CA-33] Diane Watson D CA E. 33 2005-04-21 False F000043 Rep. Fattah, Chaka [D-PA-2] CHAKA FATTAH D PA 2 2005-04-21 False M001137 Rep. Meeks, Gregory W. [D-NY-6] GREGORY MEEKS D NY W. 6 2005-04-21 False D000602 Rep. Davis, Artur [D-AL-7] Artur Davis D AL 7 2005-04-21 False G000535 Rep. Gutierrez, Luis V. [D-IL-4] LUIS GUTIERREZ D IL V. 4 2005-04-21 False T000193 Rep. Thompson, Bennie G. [D-MS-2] BENNIE THOMPSON D MS 2 2005-04-21 False O000159 Rep. Owens, Major R. [D-NY-11] MAJOR OWENS D NY R. 11 2005-04-26 False S001145 Rep. Schakowsky, Janice D. [D-IL-9] JANICE SCHAKOWSKY D IL D. 9 2005-04-26 False J000070 Rep. Jefferson, William J. [D-LA-2] WILLIAM JEFFERSON D LA J. 2 2005-04-26 False G000553 Rep. Green, Al [D-TX-9] Al Green D TX 9 2005-04-28 False C000794 Rep. Costello, Jerry F. [D-IL-12] JERRY COSTELLO D IL F. 12 2005-04-28 False W000797 Rep. Wasserman Schultz, Debbie [D-FL-20] Debbie Wasserman Schultz D FL 20 2005-04-28 False N000147 Del. Norton, Eleanor Holmes [D-DC-At Large] ELEANOR NORTON D DC HOLMES 0 2005-04-28 False D000096 Rep. Davis, Danny K. [D-IL-7] DANNY DAVIS D IL K. 7 2005-04-28 False H001034 Rep. Honda, Michael M. [D-CA-15] MICHAEL HONDA D CA M. 15 2005-05-04 False M001143 Rep. McCollum, Betty [D-MN-4] BETTY MCCOLLUM D MN 4 2005-05-05 False J000126 Rep. Johnson, Eddie Bernice [D-TX-30] EDDIE JOHNSON D TX BERNICE 30 2005-05-05 False W000792 Rep. Weiner, Anthony D. [D-NY-9] ANTHONY WEINER D NY D. 9 2005-05-12 False K000336 Rep. Kucinich, Dennis J. [D-OH-10] DENNIS KUCINICH D OH J. 10 2005-05-12 False U000039 Rep. Udall, Tom [D-NM-3] TOM UDALL D NM 3 2005-05-12 False C000380 Del. Christensen, Donna M. [D-VI-At Large] DONNA CHRISTENSEN D VI M. 0 2005-05-17 False F000116 Rep. Filner, Bob [D-CA-51] BOB FILNER D CA 51 2005-05-17 False F000262 Rep. Ford, Harold E., Jr. [D-TN-9] HAROLD FORD D TN E. 9 2005-05-24 False M001148 Rep. Meek, Kendrick B. [D-FL-17] Kendrick Meek D FL B. 17 2005-05-24 False S000033 Rep. Sanders, Bernard [I-VT-At Large] Bernard Sanders I VT 0 2005-05-24 False M001140 Rep. Moore, Dennis [D-KS-3] DENNIS MOORE D KS 3 2005-05-24 False S001157 Rep. Scott, David [D-GA-13] David Scott D GA 13 2005-05-24 False B001234 Rep. Baca, Joe [D-CA-43] JOE BACA D CA 43 2005-06-15 False E000250 Rep. Evans, Lane [D-IL-17] LANE EVANS D IL 17 2005-06-22 False C000714 Rep. Conyers, John, Jr. [D-MI-14] JOHN CONYERS D MI 14 2005-06-28 False B000911 Rep. Brown, Corrine [D-FL-3] CORRINE BROWN D FL 3 2005-06-28 False D000216 Rep. DeLauro, Rosa L. [D-CT-3] ROSA DELAURO D CT 3 2005-07-12 False W000784 Rep. Wynn, Albert Russell [D-MD-4] ALBERT WYNN D MD R. 4 2005-07-19 False S000810 Rep. Stark, Fortney Pete [D-CA-13] PETE STARK D CA 13 2005-07-20 False W000314 Rep. Wexler, Robert [D-FL-19] ROBERT WEXLER D FL 19 2005-09-02 False G000551 Rep. Grijalva, Raúl M. [D-AZ-7] Raúl Grijalva D AZ M. 7 2005-09-08 False R000515 Rep. Rush, Bobby L. [D-IL-1] BOBBY RUSH D IL L. 1 2005-10-07 False M000312 Rep. McGovern, James P. [D-MA-3] JAMES MCGOVERN D MA P. 3 2005-10-28 False J000283 Rep. Jackson, Jesse L., Jr. [D-IL-2] JESSE JACKSON D IL L. 2 2005-11-07 False S000248 Rep. Serrano, Jose E. [D-NY-16] JOSE SERRANO D NY E. 16 2005-11-18 False T000326 Rep. Towns, Edolphus [D-NY-10] EDOLPHUS TOWNS D NY 10 2005-12-15 False W000187 Rep. Waters, Maxine [D-CA-35] MAXINE WATERS D CA 35 2006-03-28 False H001038 Rep. Higgins, Brian [D-NY-27] Brian Higgins D NY 27 2006-04-05 False L000397 Rep. Lofgren, Zoe [D-CA-16] ZOE LOFGREN D CA 16 2006-04-05 False C000191 Rep. Carson, Julia [D-IN-7] JULIA CARSON D IN 7 2006-04-06 False N000179 Rep. Napolitano, Grace F. [D-CA-38] GRACE NAPOLITANO D CA F. 38 2006-06-21 False C000754 Rep. Cooper, Jim [D-TN-5] JAMES COOPER D TN H. 5 2006-07-26 False Finance and Financial Sector Administrative procedure Civil actions and liability Collection of accounts Commerce Commercial arbitration Consumer credit Consumer education Consumer protection Counseling Credit insurance Debt Debtor and creditor Evidence (Law) Federal Reserve System Fees Fines (Penalties) Foreclosure Government Operations and Politics Housing and Community Development Insurance premiums Law Limitation of actions Loan defaults Mortgage banks Mortgage interest rates Mortgages Restrictive trade practices Settlement costs Social Welfare Usury Finance and Financial Sector 00 2005-03-09 Introduced in House 2005-04-05T17:15:19Z Prohibit Predatory Lending Act - Amends the Truth in Lending Act in connection with consumer credit cost disclosure to redefine: (1) high-cost mortgage; (2) the formula used to adjust certain percentage points in connection with a consumer credit transaction secured by the consumer's principal dwelling; and (3) related points and fees.

Sets forth a formula to calculate: (1) points and fees for open-end loans; and (2) bona fide discount points and prepayment penalties.

Revises requirements for: (1) prepayment penalties; (2) balloon payments; and (3) extension of credit without regard to consumer's payment ability.

Prohibits in connection with high-cost mortgages: (1) a lender from recommending a default on an existing debt prior to and in connection with the closing of a high-cost mortgage that refinances all or any portion of such existing loan or debt; (2) specified late fees; (3) certain accelerations of debt; (4) certain evasions, structuring of transactions, and reciprocal arrangements; (5) certain modification and deferral fees; and (6) mandatory arbitration or other nonjudicial procedures.

Mandates pre-loan counseling as a prerequisite for a high-loan mortgage.

Revises guidelines governing lender liability for correction of errors.

Prohibits a lender from knowingly or intentionally engaging in the unfair act or practice of flipping (the making of a loan or extension of credit to a consumer which refinances an existing mortgage when the new loan or credit extension does not have reasonable, tangible net benefit to the consumer, considering all of the circumstances, including the terms of both the new and the refinanced loans or credit, the cost of the new loan or credit, and the consumer's circumstances).

Prohibits single premium credit insurance.

Doubles civil money penalties for certain violations.

Extends to three years the statute of limitations for violation of certain statutory disclosure requirements.

]]> Prohibit Predatory Lending Act Short Titles as Introduced Prohibit Predatory Lending Act Display Title Prohibit Predatory Lending Act Official Title as Introduced To amend the Truth in Lending Act to impose restrictions and limitations on high-cost mortgages, to revise the permissible fees and charges on certain loans made, to prohibit unfair or deceptive lending practices, and to provide for public education and counseling about predatory lenders, and for other purposes. Introduced in House 2005-03-09T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109hr1182ih/xml/BILLS-109hr1182ih.xml 2005-05-13 Referred to the Subcommittee on Housing and Community Opportunity. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.