Financial Protection for Our Military Families Act

Bill: 115-hr-7364
Sponsor: full_name: Rep. Barr, Andy [R-KY-6]
Introduced: 2018-12-20
Policy area: Finance and Financial Sector
Subjects: Banking and financial institutions regulation

Consumer Financial Protection Bureau

Consumer credit

Interest, dividends, interest rates

Military personnel and dependents
Latest action: action_date: 2018-12-20
text: Referred to the Committee on Financial Services, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Summaries:
action_date: 2018-12-20
action_desc: Introduced in House
text: <p><b>Financial Protection for Our Military Families Act </b></p> <p>This bill extends the supervisory authority of the Consumer Financial Protection Bureau to credit protections applicable to certain active duty members of the armed forces and their dependents. </p>

tv_txt: I 115th CONGRESS 2d Session H. R. 7364 IN THE HOUSE OF REPRESENTATIVES December 20, 2018 Mr. Barr introduced the following bill; which was referred to the Committee on Financial Services , and in addition to the Committee on Armed Services , for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned A BILL To amend the Consumer Financial Protection Act of 2010 to extend the supervisory authority of the Bureau of Consumer Financial Protection to include assessing compliance with the Military Lending Act.

1. Short title This Act may be cited as the Financial Protection for Our Military Families Act . 2. Bureau examination authority with respect to Military Lending Act compliance The Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5481 et seq.) is amended— (1) in section 1024(b)(1)(A), by inserting before the semicolon the following: and section 987 of title 10, United States Code ; (2) in section 1025(b)(1)— (A) by redesignating subparagraphs (B) and (C) as subparagraphs (C) and (D), respectively; and (B) by inserting after subparagraph (A) the following: (B) with respect to insured depository institutions, assessing compliance with the requirements of section 987 of title 10, United States Code; ; and (3) in section 1026(c)(1), by inserting before the period the following: and with the requirements of section 987 of title 10, United States Code, of insured depository institutions described in subsection (a) .