H.R. 4861, EQUAL Act of 2018

3.0.0 4861 2023-01-11T13:38:58Z 2023-01-11T13:38:58Z House HR 2018-01-19 115 [Congressional Record Volume 164, Number 12 (Friday, January 19, 2018)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. HOLLINGSWORTH:H.R. 4861.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 18: To make all Laws whichshall be necessary and proper for carrying into Execution theforegoing Powers, and all other Powers vested by thisConstitution in the Government of the United States, or inany Department or Officer thereof.[Page H583]]]> hsba00 Financial Services Committee House Standing hsba15 Consumer Protection and Financial Institutions Subcommittee Hearings by 2017-07-12T13:08:00Z Reported by 2018-08-03T15:23:57Z Markup by 2018-03-21T20:43:35Z Referred to 2018-01-19T14:01:50Z H. Rept. 115-890 2018-08-03 Placed on the Union Calendar, Calendar No. 688. Calendars H12410 2 House floor actions U00688 2018-08-03 Reported by the Committee on Financial Services. H. Rept. 115-890. Committee H12200 2 House floor actions hsba00 Financial Services Committee 2018-08-03 Reported by the Committee on Financial Services. H. Rept. 115-890. Committee 5000 9 Library of Congress hsba00 Financial Services Committee 2018-03-21 hsba00 Financial Services Committee 1 House committee actions Ordered to be Reported by the Yeas and Nays: 34 - 26. Committee 2018-03-21 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2018-01-19 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2018-01-19 Introduced in House IntroReferral Intro-H 9 Library of Congress 2018-01-19 Introduced in House IntroReferral 1000 9 Library of Congress 2017-07-12 hsba15 Consumer Protection and Financial Institutions Subcommittee 1 House committee actions Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Introduction and Referral. Committee H001074 Rep. Hollingsworth, Trey [R-IN-9] Trey Hollingsworth R IN 9 N B001282 Rep. Barr, Andy [R-KY-6] Andy Barr R KY 6 2018-06-08 False 2018-06-20T19:00:00Z H.R. 4861, EQUAL Act of 2018 https://www.cbo.gov/publication/54087 As ordered reported by the House Committee on Financial Services on March 21, 2018 Finance and Financial Sector Administrative law and regulatory procedures Bank accounts, deposits, capital Banking and financial institutions regulation Consumer credit Credit and credit markets Federal Deposit Insurance Corporation (FDIC) Finance and Financial Sector

00 2018-01-19 Introduced in House 2018-10-23T17:34:22Z Ensuring Quality Unbiased Access to Loans Act of 2018 or the EQUAL Act of 2018

This bill nullifies the Federal Deposit Insurance Corporation final guidance titled "Guidance on Supervisory Concerns and Expectations Regarding Deposit Advance Products," published November 26, 2013. (The guidance relates to the safety and soundness of insured depository intuitions offering short-term, small-dollar loans.) Federal banking agencies must issue regulations regarding such loans offered by insured depository institutions.

The bill also exempts certain loans made by a depository institution or a credit union from the Consumer Financial Protection Bureau rule titled "Payday, Vehicle Title, and Certain High-Cost Installment Loans," published on November 17, 2017.

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79 2018-08-03 Reported to House without amendment 2018-10-25T18:37:07Z Ensuring Quality Unbiased Access to Loans Act of 2018 or the EQUAL Act of 2018

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EQUAL Act of 2018 Display Title EQUAL Act of 2018 Official Title as Introduced To nullify certain guidance on deposit advance products, to require the Federal banking agencies to establish standards for short-term, small-dollar loans made by insured depository institutions, to exempt insured depository institutions and insured credit unions from the payday lending rule of the Bureau of Consumer Financial Protection, and for other purposes. Introduced in House IH Short Titles as Reported to House EQUAL Act of 2018 H House Short Titles as Reported to House Ensuring Quality Unbiased Access to Loans Act of 2018 H House Short Titles as Introduced EQUAL Act of 2018 Short Titles as Introduced Ensuring Quality Unbiased Access to Loans Act of 2018 Reported in House 2018-08-03T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr4861rh/xml/BILLS-115hr4861rh.xml Introduced in House 2018-01-19T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr4861ih/xml/BILLS-115hr4861ih.xml 2018-08-03 Placed on the Union Calendar, Calendar No. 688. 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.