3.0.0 871 2023-01-11T13:27:47Z 2023-01-11T13:27:47Z Senate S 2015-03-26 114 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2015-03-26T16:13:42Z Helping Expand Lending Practices in Rural Communities Act 114 1259 HR 2015-04-14 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS American Jobs and Community Revitalization Act of 2015 114 1389 HR 2015-04-08 Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit. Related bill CRS Financial Regulatory Improvement Act of 2015 114 1484 S 2015-07-23 Committee on Banking, Housing, and Urban Affairs. Hearings held. Related bill CRS Financial Services and General Government Appropriations Act, 2016 114 1910 S 2015-07-30 Placed on Senate Legislative Calendar under General Orders. Calendar No. 176. Related bill CRS An Act Making Appropriations to Stop Regulatory Excess and for Other Purposes, 2016 114 2132 S 2015-10-06 Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 251. Related bill CRS 2015-03-26 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S2048-2049) IntroReferral 2015-03-26 Introduced in Senate IntroReferral 10000 9 Library of Congress M000355 Sen. McConnell, Mitch [R-KY] Mitch McConnell R KY N H001041 Sen. Heller, Dean [R-NV] Dean Heller R NV 2015-03-26 True C001047 Sen. Capito, Shelley Moore [R-WV] Shelley Capito R WV Moore 2015-03-26 True P000603 Sen. Paul, Rand [R-KY] Rand Paul R KY 2015-03-26 True R000605 Sen. Rounds, Mike [R-SD] Mike Rounds R SD 2015-04-29 False F000463 Sen. Fischer, Deb [R-NE] Deb Fischer R NE 2015-12-03 False Finance and Financial Sector Administrative law and regulatory procedures Administrative remedies Banking and financial institutions regulation Consumer Financial Protection Bureau Consumer credit Financial services and investments Housing finance and home ownership Rural conditions and development Finance and Financial Sector 00 2015-03-26 Introduced in Senate 2015-04-23T14:11:42Z Helping Expand Lending Practices in Rural Communities Act of 2015 or the HELP Rural Communities Act of 2015

Directs the Consumer Financial Protection Bureau (CFPB) to establish an application process under which a person who lives or does business in a state may apply to have an area in the state identified as a rural area if it has not yet been so designated by the CFPB for purposes of federal consumer financial law.

Prescribes criteria for the CFPB to consider when evaluating the application.

States that if, at any time before submission of an application, the area subject to review has been designated as nonrural by certain federal agencies, the CFPB is not required to consider that designation in its evaluation.

Requires the CFPB to: (1) grant or deny the application within 90 days after the public comment period ends; and (2) publish the grant or denial in the Federal Register, including an explanation of the factors upon which the CFPB relied in making its determination.

Sunsets this Act two years after its enactment.

Amends The Truth in Lending Act with respect to CFPB authority to treat a balloon loan as "a qualified mortgage" to mean a balloon loan extended by any creditor operating in rural or underserved areas even if it does not operate predominantly in them. Exempts such a creditor from the requirements for escrow or impound accounts governing certain consumer credit transactions secured by a first lien on the consumer's principal dwelling.

]]> HELP Rural Communities Act of 2015 Display Title HELP Rural Communities Act of 2015 Official Title as Introduced A bill to provide for an application process for interested parties to apply for an area to be designated as a rural area, and for other purposes. Introduced in Senate IS Short Titles as Introduced HELP Rural Communities Act of 2015 Short Titles as Introduced Helping Expand Lending Practices in Rural Communities Act of 2015 Introduced in Senate 2015-03-26T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114s871is/xml/BILLS-114s871is.xml 2015-03-26 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S2048-2049) 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.