3.0.0 172 2022-11-15T16:34:12Z 2022-11-15T16:34:12Z Senate S S 2013-01-29 113 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2013-01-29T20:36:02Z SAFE Lending Act of 2013 113 990 HR 2013-03-06 Referred to the House Committee on Financial Services. Identical bill CRS 2013-01-29 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2013-01-29 Introduced in Senate IntroReferral 10000 9 Library of Congress M001176 Sen. Merkley, Jeff [D-OR] Jeff Merkley D OR N U000039 Sen. Udall, Tom [D-NM] TOM UDALL D NM 2013-01-29 True D000563 Sen. Durbin, Richard J. [D-IL] Richard Durbin D IL J. 2013-01-29 True B001277 Sen. Blumenthal, Richard [D-CT] Richard Blumenthal D CT 2013-01-29 True H000206 Sen. Harkin, Tom [D-IA] THOMAS HARKIN D IA RICHARD 2013-02-27 False W000817 Sen. Warren, Elizabeth [D-MA] Elizabeth Warren D MA A. 2013-03-04 False Finance and Financial Sector Administrative law and regulatory procedures Administrative remedies Bank accounts, deposits, capital Banking and financial institutions regulation Civil actions and liability Congressional oversight Consumer Financial Protection Bureau Consumer credit Government studies and investigations Internet and video services Internet, web applications, social media Jurisdiction and venue Finance and Financial Sector 00 2013-01-29 Introduced in Senate 2013-02-13T17:53:24Z Stopping Abuse and Fraud in Electronic Lending Act of 2013 or SAFE Lending Act of 2013 - Amends the Electronic Fund Transfer Act to authorize the issuance of remotely created checks only if the consumer has designated in writing a person to issue them.

Defines a "remotely created check" as one that: (1) is not created by the financial institution that holds the customer account from which the check is to be paid; and (2) does not bear a signature applied, or purported to be applied, by the person from whose account the check is to be paid.

Treats as a preauthorized electronic fund transfer (EFT) subject to the protections of such Act any voluntary repayment by a consumer of an extension of a small-dollar ($5,000 or less) consumer credit transaction by means of an EFT.

Amends the Truth in Lending Act to require any small-dollar consumer credit transaction made over the Internet, telephone, FAX, mail, electronic mail, or other electronic communication, as well as any conducted by a national bank, to comply with the laws of the state in which the consumer resides with respect to annual percentage rates, interest, fees, charges, and such other matters as the Consumer Financial Protection Bureau (CFPB) may determine.

Prohibits a person from facilitating, brokering, arranging, gathering applications for, distributing sensitive personal financial information, or extending credit in connection with a small-dollar consumer credit transaction unless that person is directly providing the small-dollar consumer credit to the consumer.

Empowers the CFPB to investigate violations of this Act. Sets forth investigative and cease-and-desist enforcement procedures, particularly with respect to both covered onshore persons (state governments or Indian tribes) or offshore persons (which conduct business directed to U.S. residents but from a location outside, and without a domain name registered or assigned by an authority within, any U.S. judicial district).

Directs the Government Accountability Office (GAO) to study the availability of capital on Indian reservations and the impact that small-dollar consumer credit extended through Internet and non-Internet means to members of Indian tribes has had upon economic opportunity and wealth for tribal members.

]]> SAFE Lending Act of 2013 Display Title SAFE Lending Act of 2013 Short Titles as Introduced SAFE Lending Act of 2013 Short Titles as Introduced Stopping Abuse and Fraud in Electronic Lending Act of 2013 Official Title as Introduced A bill to amend the Truth in Lending Act to address certain issues related to the extension of consumer credit, and for other purposes. Introduced in Senate 2013-01-29T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113s172is/xml/BILLS-113s172is.xml 2013-01-29 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. 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.