CREDIT related term(s) Consumers

Bills and resolutions

Colleges and universities: establish that State-based education loan program is excluded from certain requirements relative to preferred lender arrangement (see S. 4097), S1055 [16MR]

Consumer Financial Protection Bureau: disapprove rule entitled ‘‘Fair Credit Reporting Act; Preemption of State Laws’’ (see S.J. Res. 144), S1614 [25MR]

——— disapprove withdrawal of rule entitled ‘‘Application of Regulation Z’s Ability-To-Repay Rule to Certain Situations Involving Successors-In-Interest’’ (see S.J. Res. 146), S1615 [25MR]

——— disapprove withdrawal of rule entitled ‘‘Consumer Financial Protection Circular 2024–03—Unlawful and Unenforceable Contract Terms and Conditions’’ (see S.J. Res. 128), S1090 [17MR]

——— disapprove withdrawal of rule entitled ‘‘Debt Collection Practices (Regulation F); Deceptive and Unfair Collection of Medical Debt’’ (see S.J. Res. 141), S1367 [19MR]

——— disapprove withdrawal of rule entitled ‘‘Debt Collection Practices (Regulation F); Pay-to-Pay Fees’’ (see S.J. Res. 125), S1090 [17MR]

——— disapprove withdrawal of rule entitled ‘‘Fair Credit Reporting; Background Screening’’ (see S.J. Res. 133), S1205 [18MR]

——— disapprove withdrawal of rule entitled ‘‘Fair Credit Reporting; File Disclosure’’ (see S.J. Res. 127), S1090 [17MR]

——— disapprove withdrawal of rule entitled ‘‘Fair Credit Reporting; Name-Only Matching Procedures’’ (see S.J. Res. 140), S1367 [19MR]

——— disapprove withdrawal of rule entitled ‘‘Fair Credit Reporting; Permissible Purposes for Furnishing, Using, and Obtaining Consumer Reports’’ (see S.J. Res. 145), S1615 [25MR]

——— disapprove withdrawal of rule entitled ‘‘Fair Debt Collection Practices Act (Regulation F); Time-Barred Debt’’ (see S.J. Res. 126), S1090 [17MR]

——— disapprove withdrawal of rule entitled ‘‘Statement of Policy Regarding Prohibition on Abusive Acts or Practices’’ (see S.J. Res. 147), S1615 [25MR]

——— disapprove withdrawal of rule entitled ‘‘The Fair Credit Reporting Act’s Limited Preemption of State Laws’’ (see S.J. Res. 129), S1090 [17MR]

——— disapprove withdrawal of rule entitled ‘‘Truth in Lending (Regulation Z); Use of Digital User Accounts to Access Buy Now, Pay Later Loans’’ (see S.J. Res. 134), S1205 [18MR]

——— establish Assistant Director and Student Loan Borrower Advocate and work with Dept. of Education to assist borrowers to resolve complaints related to private or Federal student loans (see H.R. 7671), H2326 [25FE]

——— reduce excessive credit card late fees (see S. 3660), S256 [15JA]

Consumers: extend consumer protections relative to interest rates and credit limits provided to Armed Forces members to all consumers (see S. 3793), S509 [5FE]

Dept. of Agriculture: authorize rural health facilities to use certain Federal agricultural credit assistance to refinance debt obligations, update necessary services, technology, and equipment, and support ancillary needs (see H.R. 7514), H2186 [11FE]

——— make temporary zero-percent interest loans under Community Facilities Direct Loan Program to construct or renovate certain rural hospitals (see S. 4141), S1367 [19MR]

——— modify rural housing financing (see S. 4182), S1580 [24MR]

——— provide for floodplain easement restoration and management (see H.R. 7264), H1915 [27JA]

——— provide grants and direct or guaranteed loans to increase domestic fertilizer production for farmers (see S. 4148), S1367 [19MR]

——— reauthorize and improve relending program to resolve ownership and succession on farmland (see H.R. 7761), H2368 [3MR]

——— reform and continue agricultural and other programs (see H.R. 7567), H2224 [13FE]

——— support prompt approval of certain loans and loan guarantees (see H.R. 7426), H2094 [9FE]

Dept. of Education: eliminate interest on Federal student loans, establish Education Affordability Trust Fund, and increase annual and aggregate loan limits (see S. 4169), S1580 [24MR] (see H.R. 8045), H2674 [24MR]

——— provide student loan allowance calculation for purposes of determining student aid index (see H.R. 7232), H1350 [22JA]

——— reduce interest rates of certain Federal student loans (see H.R. 7810), H2420 [4MR]

——— reverse reductions in Federal loan availability for graduate and professional students (see S. 4039), S958 [10MR]

——— use student loan repayment rates at institutions of higher education to determine institutional eligibility for Federal student aid funds and require risk sharing payments of institutions (see S. 4114), S1090 [17MR] (see H.R. 8009), H2621 [19MR]

Dept. of Energy: provide enhanced provisions for advanced nuclear energy projects receiving loan guarantees (see S. 3814), S552 [10FE]

Dept. of HHS: establish grant program for medical debt relief (see H.R. 7478), H2118 [10FE]

Dept. of HUD: increase certain FHA loan limits and clarify that property improvement loans may be used for construction of accessory dwelling units (see H.R. 7792), H2419 [4MR]

——— provide parity relative to access to mortgage insurance for hospitals program for licensed psychiatric hospitals (see H.R. 7030), H717 [13JA]

——— report to Congress relative to exempting any downpayment requirement for mortgage insurance offered by FHA for first-time homebuyers who are first responders or school teachers (see H.R. 7755), H2368 [3MR]

——— study feasibility and potential impacts of portable federally backed mortgage loans (see H.R. 7754), H2368 [3MR]

Dept. of Veterans Affairs: expand eligibility for housing loans to members of Reserve components and National Guard who perform certain duties (see H.R. 7009), H655 [12JA]

——— modify maximum guaranty amount of certain guaranteed home loans (see H.R. 7141), H924 [16JA]

——— refund fees for guaranteed housing loans for certain veterans with pending disability claims (see H.R. 7598), H2228 [17FE]

——— report quarterly to Congress on housing loans insured, guaranteed, or otherwise administered (see H.R. 7150), H947 [20JA]

Electronic Fund Transfer Act: amend to adjust certain thresholds for inflation (see S. 3849), S577 [11FE] (see H.R. 7484), H2185 [11FE]

Financial institutions: address applications for deposit insurance submitted by industrial banks to FDIC (see S. 3734), S377 [29JA]

——— apply enhanced supervision and prudential standards applicable to bank holding companies to large banks that do not have bank holding company (see H.R. 7888), H2476 [9MR]

——— expand homeownership access (see H.R. 7647), H2258 [23FE]

——— provide requirements for bulk auction or group sale of certain non-performing loans (see S. 3753), S419 [30JA]

Financial literacy: improve for secondary school students (see H.R. 7183), H1171 [21JA]

Firearms: prohibit States from prohibiting or deterring usage of any merchant category code established by International Organization for Standardization, including codes that identify firearm and ammunition merchants (see H.R. 7133), H924 [16JA]

FRS: require Board of Governors to prescribe regulations relative to network competition in credit card transactions (see S. 3623), S161 [13JA] (see H.R. 7035), H717 [13JA]

FTC: add additional protections against harmful practices within credit repair organization industry (see S. 4144), S1367 [19MR]

GSA: authorize creation of ‘‘Lending.gov’’ as shared services platform to provide single source of access to loans provided by Federal agencies and modern technology to support effective management of Federal credit programs (see S. 3980), S801 [4MR] (see H.R. 7789), H2419 [4MR]

Medicare: establish certain standards and requirements relative to financial assistance and medical debt collection for participating hospitals (see H.R. 7478), H2118 [10FE]

National Credit Union Administration: provide flexibility to increase Federal credit union loan maturities (see S. 3616), S161 [13JA]

Real estate: set restrictions on sale of single-family homes financed by Federal Government (see H.R. 7586), H2224 [13FE]

SBA: require employees to certify that employee does not have any prohibited conflicts of interest relative to loans in which employee is involved (see H.R. 7401), H2040 [5FE]

Ships and vessels: make changes relative to direct loans by Dept. of Transportation and Maritime Administration for financing of fishing vessels (see H.R. 7350), H2029 [4FE]

States: empower States to set maximum annual percentage rates applicable to consumer credit transactions (see S. 3721), S376 [29JA]

——— restore and clarify intent of Federal interest rate exportation parity for State-chartered banks by allowing States to opt out of preemption only relative to loans made by their own chartered institutions (see S. 3889), S610 [12FE] (see H.R. 7866), H2475 [9MR]

Taxation: allow establishment of first-time homebuyer savings accounts (see H.R. 7422), H2094 [9FE]

——— apply floor plan financing interest rules to semitrailers (see H.R. 7944), H2530 [16MR]

——— exempt qualified student loan bonds from volume cap and alternative minimum tax (see S. 3761), S470 [3FE]

——— expand deduction for student loan interest to include payments toward principal and increase value of deduction (see H.R. 7536), H2218 [12FE]

——— include watercraft as applicable passenger vehicles for purpose of deducting personal loan interest (see H.R. 7222), H1350 [22JA]

Cost Estimates

Bringing the Discount Window Into the 21st Century Act (H.R. 3390): CBO, H2078 [9FE]

Remarks in House

BIA: process and complete all mortgage packages associated with residential and business mortgages on Indian land by certain deadlines (S. 723), H2359–H2362 [3MR]

Coastal Area District Development Authority, Inc.: anniversary, H2084 [9FE]

Dept. of Agriculture: reform and continue agricultural and other programs, H1940 [2FE]

——— reform and continue agricultural and other programs (H.R. 7567), H2423, H2427 [5MR]

Dept. of Education: ensure that borrowers who have performed qualifying public service receive Public Service Loan Forgiveness, H2044 [9FE]

FRS: review discount window operations and implement improvements to such operations (H.R. 3390), H2076–H2078 [9FE]

SBA: modify criteria for loans for plant acquisition, construction, conversion or expansion (H.R. 5763), H930, H931 [20JA]

——— require annual portfolio risk analysis of loans guaranteed under Small Business Investment Act (H.R. 5788), H932–H934 [20JA]

Remarks in Senate

Consumers: expand definition of active duty military consumer for purposes of certain credit monitoring requirements (S. 2074), S877 [5MR]

——— extend consumer protections relative to interest rates and credit limits provided to Armed Forces members to all consumers (S. 3793), S511 [5FE]

Financial institutions: provide requirements for bulk auction or group sale of certain non-performing loans (S. 3753), S420 [30JA]

FRS: require Board of Governors to prescribe regulations relative to network competition in credit card transactions (S. 3623), S230–S232 [15JA]

Trump, President: evaluation of administration, S202 [14JA]

Reports filed

College Financial Aid Clarity Act: Committee on Education and Workforce (House) (H.R. 6502) (H. Rept. 119–460), H1170 [21JA]

Protecting Privacy in Purchases Act: Committee on Financial Services (House) (H.R. 1181) (H. Rept. 119–522), H2325 [25FE]

Small Business Lending Fraud Prevention Act: Committee on Small Business (House) (H.R. 7401) (H. Rept. 119–500), H2232 [20FE]

Student Financial Clarity Act: Committee on Education and Workforce (House) (H.R. 6498) (H. Rept. 119–461), H1170 [21JA]

Tribal Trust Land Homeownership Act: Committee on Natural Resources (House) (H.R. 2130) (H. Rept. 119–513), H2257 [23FE]

Texts of

H.R. 3390, Bringing the Discount Window Into the 21st Century Act, H2076 [9FE]

H.R. 5763, Main Street Parity Act, H930 [20JA]

H.R. 5788, 504 Program Risk Oversight Act, H933 [20JA]

S. 723, Tribal Trust Land Homeownership Act, H2359–H2361 [3MR]

S. 2074, Servicemembers’ Credit Monitoring Enhancement Act, S877 [5MR]

S.J. Res. 147, disapprove withdrawal of Consumer Financial Protection Bureau rule entitled ‘‘Statement of Policy Regarding Prohibition on Abusive Acts or Practices’’, S1617 [25MR]