Search Results: keywords:"truth in lending act"

  • S. 3549 — To amend the Truth in Lending Act to extend the consumer credit protections provided to members of the Armed Forces and their dependents under title 10, United States Code, to all consumers.
    Status:Introduced in Senate
    Words:1,596

    S. 3549, titled the “Predatory Lending Elimination Act,” proposes to extend consumer credit protections currently provided to members of the Armed Forces and their families to all consumers in the United States. The bill seeks to amend the Truth in Lending Act to impose similar limitations on...

    Simple Explanation

    The Predatory Lending Elimination Act wants to make sure that everyone has the same rules that protect soldiers and their families from getting unfair deals when borrowing money, like making sure loans aren't too expensive and can't trick people with extra charges. It even lets states make their own stronger rules if they want, and helps them work with national rules to keep people safe.

  • H. R. 8356 — To amend the Truth in Lending Act to provide for a safe harbor for small-dollar credit products, and for other purposes.
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    Status:Introduced in House
    Words:1,264

    The bill, H.R. 8356, also known as the Small Dollar Loan Certainty Act, aims to amend the Truth in Lending Act to create a safe harbor for small-dollar credit products. This means that if financial institutions follow certain rules when offering loans or...

    Simple Explanation

    The bill wants to make borrowing small amounts of money, like $3,500 or less, safer and easier. If banks follow certain rules when giving these small loans, they won't get in trouble, and it helps make sure they lend money responsibly.

  • S. 3807 — To amend the Food and Nutrition Act of 2008 to allow for deductions of student loan payments from income.
    Status:Introduced in Senate
    Words:386

    S. 3807 proposes an amendment to the Food and Nutrition Act of 2008 to permit deductions of student loan payments from a household's income, which can aid in determining eligibility for federal nutrition assistance programs. The bill defines student loans as those made under...

    Simple Explanation

    S. 3807 is a bill that says people who have to pay back student loans can subtract those payments from their income when figuring out if they can get help to buy food. This could make it easier for people with student loans to get food assistance.

  • 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.

  • 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. 3459 — To amend the Internal Revenue Code of 1986 to allow an above-the-line deduction for attorney fees and costs in connection with consumer claim awards.
    Status:Introduced in Senate
    Words:771

    The bill S. 3459 seeks to amend the Internal Revenue Code of 1986 to allow people to deduct attorney fees and court costs from their taxable income if they win consumer claim awards. It defines what a "consumer protection violation" is by listing laws that protect consumers,...

    Simple Explanation

    The bill wants to change the tax rules so that if someone wins money in a case about being treated unfairly as a shopper, they can pay their lawyer and other costs before counting the money they won as something they have to pay taxes on.

  • 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.
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    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.

  • H. R. 8252 — To amend the Truth in Lending Act and the Real Estate Settlement Procedures Act of 1974 to establish language access requirements for creditors and servicers, and for other purposes.
    Status:Introduced in House
    Words:3,741

    H.R. 8252, titled the "Improving Language Access in Mortgage Servicing Act of 2024," aims to amend the Truth in Lending Act and the Real Estate Settlement Procedures Act of 1974 to establish language access requirements for creditors and servicers. The bill requires the creation of a standard...

    Simple Explanation

    This bill wants to make sure people who speak different languages can understand their home loan papers by providing translations and help from people who speak those languages. It also plans to create a website with resources and requires banks to share language preferences if the loan is transferred to another company.

  • H. R. 7428 — To regulate the business of offering and providing earned wage access services to consumers, and for other purposes.
    Status:Reported in House
    Words:2,461

    H. R. 7428 aims to regulate companies that offer earned wage access services, which allow workers to access their earned wages before payday. The bill requires these companies to offer a no-cost option to consumers and provide clear disclosures about fees, voluntary payments,...

    Simple Explanation

    H.R. 7428 is a rule that tries to make it fair and safe when companies let people get their paychecks early. It makes sure there's a free way to use this service, clear explanations about any costs, and protects people from getting into trouble or being treated unfairly just because of who they are.

  • S. 4265 — To amend the Truth in Lending Act and the Real Estate Settlement Procedures Act of 1974 to establish language access requirements for creditors and servicers, and for other purposes.
    Status:Introduced in Senate
    Words:3,775

    The Improving Language Access in Mortgage Servicing Act of 2024 aims to ensure that borrowers with limited English proficiency can access mortgage information in their preferred language. It amends the Truth in Lending Act and the Real Estate Settlement Procedures Act to...

    Simple Explanation

    The bill asks for new rules so people who speak different languages can easily understand and get help with their home loans. It wants to make sure important papers and help are available in many languages so everyone can know what's happening with their house payments.