Search Results: keywords:"consumer credit"

  • H. R. 7428 — To regulate the business of offering and providing earned wage access services to consumers, and for other purposes.
    Status:Introduced in House
    Words:2,447

    H.R. 7428, also known as the "Earned Wage Access Consumer Protection Act," aims to regulate services that allow people to access their earned wages before the usual payday. The bill sets rules for how these services can operate, including requirements for transparency in fees...

    Simple Explanation

    The bill is like a set of rules for companies that let people get paid early. It wants to make sure everything is fair, such as telling people any costs, and making sure it's safe to use without any tricks.

  • S. 5129 — To amend the Truth in Lending Act to address certain issues relating to the extension of consumer credit, and for other purposes.
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    Status:Introduced in Senate
    Words:2,573

    S. 5129, titled the "SAFE Lending Act of 2024," aims to enhance consumer protections in electronic lending. It amends the Truth in Lending Act and the Electronic Fund Transfer Act to prevent unauthorized use of remotely created checks and ensure transparency in small-dollar...

    Simple Explanation

    The SAFE Lending Act of 2024 is like a set of new rules to make sure when people borrow small amounts of money online, the process is fair and clear, so they don't end up with surprise fees or tricky situations. It sets up guidelines for lenders to be honest, especially when loans happen over the internet, and helps to keep people's money details private and safe.