3.0.0 1509 2022-11-01T17:03:25Z 2022-11-01T17:03:25Z House HR 2019-03-05 116 [Congressional Record Volume 165, Number 39 (Tuesday, March 5, 2019)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. BONAMICI:H.R. 1509.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8[Page H2369]]]> hsba00 Financial Services Committee House Standing Referred to 2019-03-05T17:04:00Z SAFE Lending Act of 2019 116 656 S 2019-03-05 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS 2019-03-05 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2019-03-05 Introduced in House IntroReferral Intro-H 9 Library of Congress 2019-03-05 Introduced in House IntroReferral 1000 9 Library of Congress B001278 Rep. Bonamici, Suzanne [D-OR-1] Suzanne Bonamici D OR 1 N C000984 Rep. Cummings, Elijah E. [D-MD-7] ELIJAH CUMMINGS D MD E. 7 2019-03-05 True Finance and Financial Sector Administrative law and regulatory procedures Bank accounts, deposits, capital Banking and financial institutions regulation Congressional oversight Consumer Financial Protection Bureau Consumer credit Government studies and investigations Indian social and development programs Interest, dividends, interest rates Internet and video services Internet, web applications, social media Licensing and registrations Right of privacy Finance and Financial Sector 00 2019-03-05 Introduced in House 2019-12-18T19:33:45Z Stopping Abuse and Fraud in Electronic Lending Act of 2019 or the SAFE Lending Act of 2019

This bill revises requirements related to consumer financial protection and small-dollar lending, including matters concerning remotely created checks, electronic fund transfers, registration of small-dollar lenders, overdraft fees, and the collection of personal information.

Under the bill, remotely created checks may only be issued by a person specifically designated in writing by a consumer and provided to the consumer's depository institution. (A remotely created check is a check not issued by the bank and not signed by the account owner.)

A voluntary agreement to repay a small-dollar consumer credit transaction by an electronic fund transfer is subject to certain protections, including the right of the consumer to stop payment.

Small-dollar consumer credit providers must register with the Consumer Financial Protection Bureau. Any small-dollar consumer credit transaction is subject to the laws of the state in which the consumer resides.

The bill also prohibits overdraft fees on prepaid accounts.

]]> SAFE Lending Act of 2019 Display Title SAFE Lending Act of 2019 Official Title as Introduced To amend the Truth in Lending Act to address certain issues relating to the extension of consumer credit, and for other purposes. Introduced in House IH Short Title(s) as Introduced SAFE Lending Act of 2019 Introduced in House IH Short Title(s) as Introduced Stopping Abuse and Fraud in Electronic Lending Act of 2019 Introduced in House IH Introduced in House 2019-03-05T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr1509ih/xml/BILLS-116hr1509ih.xml 2019-03-05 Referred to the House Committee on Financial Services. 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.