Search Results: keywords:"small-dollar loans"

  • S. 5129 — To amend the Truth in Lending Act to address certain issues relating to the extension of consumer credit, and for other purposes.
    💰
    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.

  • H. R. 9679 — To amend the Truth in Lending Act to address certain issues relating to the extension of consumer credit, and for other purposes.
    💰
    Status:Introduced in House
    Words:2,541

    H. R. 9679, titled the "SAFE Lending Act of 2024," aims to amend the Truth in Lending Act to improve consumer protections in the extension of credit. It proposes new rules to limit the use of unauthorized remotely created checks, enhance transparency and consumer empowerment in small-dollar...

    Simple Explanation

    The "SAFE Lending Act of 2024" tries to make borrowing money safer by setting rules to stop sneaky tricks and hidden fees, and it wants to make it clearer and fairer when people get small loans.