jiayi-li23/proxann_data huggingface dataset:
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2015-02-26 00:00:00

Portfolio Lending and Mortgage Access Act

 This bill amends the Truth in Lending Act to create a safe harbor from lawsuit for creditors that are insured depository institutions for any failure to comply with certain requirements with respect to a residential mortgage loan, and the banking regulators are required to treat such a loan as a qualified mortgage, if the creditor has, since the loan's origination, held it on its balance sheet and all prepayment penalties with respect to the loan comply with specified limitations.

A safe harbor from lawsuit is also created for mortgage originators for steering a consumer to a residential mortgage loan if:

 the creditor is an insured depository institution and has informed the mortgage originator that it intends to hold the loan on its balance sheet for the life of the loan, and the mortgage originator informs the consumer that the creditor intends to do so.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2015-03-03 00:00:00

Portfolio Lending and Mortgage Access Act

(Sec. 2) This bill amends the Truth in Lending Act to create a safe harbor from lawsuit for creditors that are depository institutions for any failure to comply with certain requirements with respect to a residential mortgage loan, and the banking regulators are required to treat such a loan as a qualified mortgage, if the creditor has, since the loan's origination, held it on its balance sheet and all prepayment penalties with respect to the loan comply with specified limitations.

A safe harbor from lawsuit is also created for mortgage originators for steering a consumer to a residential mortgage loan if:

 the creditor is a depository institution and has informed the mortgage originator that it intends to hold the loan on its balance sheet for the life of the loan, and the mortgage originator informs the consumer that the creditor intends to do so.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2015-03-03 00:00:00

Freddie Mac REMIC Reform Act of 2015

 Amends the Housing and Community Development Act of 1992 with respect to the exercise of options on mortgage-backed securities by the Federal Home Loan Mortgage Corporation (Freddie Mac) or, during the term of any conservatorship or receivership of Freddie Mac, the Director of the Federal Housing Finance Agency (FHFA).

Directs Freddie Mac (or FHFA as its conservator or receiver) to exercise any option on a mortgage-backed security with a clean-up call option Freddie Mac has issued if the residual holder of the security is willing to share at least 50% of any excess proceeds from the exercise of the option with FHFA as conservator or receiver, if such proceeds benefit the taxpayers of the United States.

(A clean-up call option allows a transferor of assets, in this case mortgage assets, to buy them back after the outstanding asset values have been reduced substantially.)

Defines mortgage-backed security as debt obligations issued in the form of participation certificates, collateralized mortgage obligations, mortgage-backed commercial paper, and real estate mortgage investment conduits.

Defines mortgage-backed security with a clean-up call option as any mortgage-backed security under which there is an option or right to redeem all remaining classes of the security whenever the aggregate remaining principal of the mortgage would be less than the optional redemption or clean-up call percentage.

Directs the Director to prohibit Freddie Mac and the Federal National Mortgage Association (Fannie Mae) from issuing any mortgage-backed security with a clean-up call option.

Directs the Director to ensure that any excess proceeds received as a result of the exercise of any clean-up call options be used only to reduce the budget deficit of the federal government.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2015-03-13 00:00:00

Permanently Protecting Tenants at Foreclosure Act of 2015

This bill amends the Protecting Tenants at Foreclosure Act of 2009 to repeal its sunset date December 31, 2014 (thus making the Act permanent).

This bill restores and revives such Act, the provisions of law amended or repealed by it, and any regulations promulgated pursuant to it, as were in effect on December 31, 2014, as if the sunset had not taken effect.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2015-03-17 00:00:00

Mortgage Servicing Asset Capital Requirements Act of 2015 

This bill directs the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the National Credit Union Administration to study jointly the appropriate capital requirements for mortgage servicing assets for banking institutions.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2015-03-23 00:00:00

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Community Institution Mortgage Relief Act of 2015

(Sec. 2) This bill amends the Truth in Lending Act to create a safe harbor from requirements for an escrow or impound account for the payment of taxes and hazard insurance in the case of mortgage loans made by a creditor with consolidated assets of $10 billion or less that holds the loan on its balance sheet for three years after its origination.

A creditor shall be deemed to have complied with the three-year balance sheet requirement if it transfers a loan by reason of its bankruptcy or failure, the purchase of it by another, or by a supervisory act or recommendation from a state or federal regulator.

The Consumer Financial Protection Bureau is required to exempt mortgage servicers that service 20,000 or fewer mortgage loans from requirements of the Real Estate Settlement Procedures Act of 1974 pertaining to the servicing of mortgage loans and administration of escrow accounts.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2015-03-24 00:00:00

Protecting Consumers from Unreasonable Credit Rates Act of 2015

 Amends the Truth in Lending Act to prohibit a creditor from extending credit to a consumer under an open end consumer credit plan (credit card) for which the fee and interest rate exceeds 36%.

Sets forth criminal penalties for violations of this Act. Empowers state Attorneys General to enforce this Act.

Revises requirements for a periodic statement for each billing cycle with respect to where the total finance charge exceeds 50 cents for a monthly or longer billing cycle, or the pro rata part of 50 cents for a billing cycle shorter than monthly. Requires inclusion of the fee and interest rate, displayed as "FAIR," instead of the total finance charge expressed as an annual percentage rate (APR).
Topic: Domestic Commerce — Consumer Finance
Subject: Crime and law enforcement
Date: 2015-03-24 00:00:00

Cybercrime Anti-Resale Deterrent and Extraterritoriality Revision Act of 2015 or the CARDER Act of 2015 

Amends the federal criminal code to extend extraterritorially the application of penalties for fraud offenses involving an access device issued, owned, managed, or controlled by a financial institution, account issuer, credit card system member, or other entity organized under the laws of the United States or any U.S. state or territory. (An access device is any card, code, electronic serial number, telecommunications service, or other means of account access that can be used to initiate a transfer of funds or to obtain money, goods, or services.) Removes a condition under current law that subjects a person to such penalties only if the underlying articles, property, or proceeds are held within or have transferred through U.S. jurisdiction.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2015-03-26 00:00:00

Enterprise Secondary Reserve Taxpayer Protection and Government Accountability Act of 2015

This bill amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to direct the Director of the Federal Housing Finance Agency to: (1) establish for any government sponsored enterprise (GSE, including the Federal National Mortgage Association [Fannie Mae] and the Federal Home Loan Mortgage Corporation [Freddie Mac]) operating in conservatorship a secondary reserve fund, and (2) deposit in it from any GSE revenues an amount equal to its required minimum capital level.

The GSE must hold secondary reserve fund amounts in escrow until the Director uses them according to this Act or until the fund is abolished.

The Director shall: (1) decide whether to use funds held in the secondary reserve of a GSE operating in conservatorship if the GSE's losses will exceed other available amounts, and (2) abolish any secondary reserve upon dissolution of the GSE's conservatorship.

Any amounts remaining in a secondary reserve upon abolishment shall revert first to meet the GSE's capital requirements and then to its earnings.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2015-03-26 00:00:00

Protect Children from Theft Act of 2015

Amends the Fair Credit Reporting Act, with respect to protections for credit reports of minor consumers, to require a consumer reporting agency, upon request by the legal guardian or custodian of a minor consumer (including the state or tribal agency responsible for a child in foster care), to either create a blocked file for the minor or convert an already existing file to blocked status.

Directs the Consumer Financial Protection Bureau to: (1) establish implementing procedures, and (2) determine what fee, if any, may be charged by a consumer reporting agency to create, convert, or unblock a file.

Requires a consumer reporting agency to: (1) unblock a blocked file upon request by a guardian or on the minor's 18th birthday, and (2) include an alert statement in an unblocked file if the minor consumer was a victim of fraud or identity theft before that 18th birthday.

Requires a reseller who furnishes information concerning a consumer file containing an alert statement to include it when furnishing information.

Prohibits a consumer reporting agency from charging a fee to create, convert, or unblock the file of a consumer who was a victim of fraud or identity theft before his or her 18th birthday.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2015-04-15 00:00:00

Ensure Fair Prices in Title Insurance Act of 2015

This bill amends the Real Estate Settlement Procedures Act of 1974 to exempt affiliated business arrangements from the prohibitions against kickbacks and unearned fees so long as no fee, kickback, or thing of value (including any return on ownership based on referrals paid for or received from an affiliated business arrangement) is paid or received pursuant to any agreement or understanding for referrals of business incident to or a part of a real estate settlement service involving a federally related mortgage loan.

Persons who violate such Act shall be jointly and severally liable, upon a finding from a court of competent jurisdiction that such a violation occurred, to any party providing services substantially similar to settlement services in the same state where the violation occurred, and in an amount equal to attorneys' fees and court costs incurred in initiating an action.

A court may grant, in addition to the principal remedies, either injunctive relief, restitution, or other appropriate equitable relief.

The statute of limitations is extended from one year to three years for violation of the prohibitions against: (1) kickbacks and unearned fees, and (2) any requirement by a property seller involving a purchase assisted by a federally related mortgage loan that the buyer also purchase title insurance from any particular title company.
Topic: Domestic Commerce — Consumer Finance
Subject: Taxation
Date: 2015-04-15 00:00:00

Ending Taxpayer Subsidies for Yachts Act

Amends the Internal Revenue Code to deny a tax deduction for interest paid on a mortgage for a second residence of a taxpayer if that residence is a boat.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2015-04-16 00:00:00

Young Americans Financial Literacy Act

 Authorizes the Director of the Consumer Financial Protection Bureau to make competitive grants to, and enter agreements with, eligible institutions to establish centers of excellence to support research, development and planning, implementation, and evaluation of effective programs in financial literacy education for young people and families ages 8-24 years old.

Limits the aggregate amount of grants made under this Act during any fiscal year. Sunsets the grant program at the end of FY2018.

Defines "eligible institution" as a partnership of two or more of the following: (1) an institution of higher education; (2) a local educational agency; (3) a nonprofit agency, organization, or association; or (4) a financial institution.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2015-04-16 00:00:00

Foreclosure Fairness Act of 2015 

 Prohibits a court, in the case of any federally related mortgage loan made after enactment of this Act, from entering a deficiency judgment requiring the mortgagor to pay any balance on the mortgage loan after a foreclosure sale of the mortgaged property.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2015-04-21 00:00:00

Housing Financial Literacy Act of 2015 

 Amends the National Housing Act to revise the single insurance premium payment for a mortgage (secured by a one- to four-family dwelling that is an obligation of the Mutual Mortgage Insurance Fund) of a first-time homebuyer who completes a program of counseling on the responsibilities and financial management involved in homeownership that is approved by the Secretary of Housing and Urban Development.

Repeals the current maximum premium payment of 2.75% of the amount of the mortgage's original insured principal obligation.

Sets the single mortgage insurance premium payment at 25 basis points lower than the premium payment amount otherwise established.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2015-04-29 00:00:00

(Sec. 1) This bill amends the S.A.F.E. Mortgage Licensing Act of 2008 (Act) to state that, upon employment by a state-licensed mortgage company, an individual who is a registered loan originator shall be deemed to have temporary authority to act as one in an application state for a specified period if the individual:

 has not had an application for a loan originator license denied, or had such a license revoked or suspended in any governmental jurisdiction; has not been subject to or served with a cease and desist order in any governmental jurisdiction; has not been convicted of a felony that would preclude licensure under the law of the application state; has applied to be a state-licensed originator in the application state; and was registered in the Nationwide Mortgage Licensing System and Registry as a loan originator during the 12-month period preceding the date of the required information. A state-licensed loan originator shall also be deemed to have temporary authority to act as a loan originator in an application state for a specified period if the loan originator: (1) meets certain requirements; (2) is employed by a state-licensed mortgage company in the application state; and (3) was licensed in another state during the 30-day period before submitting the information required in connection with the application to the application state.

Any person employing an individual deemed to have such temporary authority to act as a loan originator in an application state, and any such individual who engages in residential mortgage loan activities, shall be subject to the requirements of the Act and to state law to the same extent as if such individual was a loan originator licensed by the application state.

(Sec. 2) The exemption from civil liability of the Consumer Financial Protection Bureau (CFPB), any state official or agency, or any organization serving as the administrator of the Nationwide Mortgage Licensing System and Registry (or a CFPB-established system), or any officer or employee of any such entity, by reason of a good faith action or omission while acting within the scope of office or employment that relates to the collection, furnishing, or dissemination of information concerning persons applying for licensing or registration as loan originators shall be limited to any such activities involving only information concerning applicants using the Nationwide Mortgage Licensing System and Registry.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2015-04-30 00:00:00

Online Credit Card Disclosure Act of 2015

Amends the Truth in Lending Act to require the billing statement of a consumer's account under an open end online credit plan to make specified disclosures in a conspicuous and prominent location on its webpage with each billing cycle.
Topic: Domestic Commerce — Consumer Finance
Subject: Taxation
Date: 2015-04-30 00:00:00

Amends the Internal Revenue Code to extend through 2015 the tax deduction for mortgage insurance premiums.
Topic: Domestic Commerce — Consumer Finance
Subject: Taxation
Date: 2015-04-30 00:00:00

Amends the Internal Revenue Code to make permanent the exclusion from gross income of income attributable to the discharge of indebtedness on a principal residence.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2015-05-01 00:00:00

This bill prohibits until January 1, 2016, enforcement against any person of integrated disclosure requirements for mortgage loan transactions under the Real Estate Settlement Procedures Act of 1974, the Truth in Lending Act, and regulations issued under such Acts.

No suit may be filed against any person for a violation of such requirements occurring before that date, as long as the person has made a good faith effort to comply with them.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2015-05-08 00:00:00

Equity in Government Compensation Act of 2015 

(Sec. 3) This bill requires the Director of the Federal Housing Finance Agency to: (1) suspend immediately the compensation packages approved for 2015 for the chief executive officers of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (government-sponsored enterprises or GSEs); and (2) establish, in lieu of such packages, the compensation and benefits for each such officer at the same level in effect as of January 1, 2015.

Such compensation and benefits may not thereafter be increased.

This requirement may not be construed to affect the applicability to the chief executive officer of each GSE of the prohibition against receiving bonuses during any period of conservatorship on or after April 4, 2012.

(Sec. 4) Any executive officer affected by this Act shall not be considered a federal employee.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2015-05-15 00:00:00

Medical Debt Act of 2015

This bill amends the Fair Credit Reporting Act to prohibit a consumer reporting agency from making any consumer report containing information related to: (1) a medical debt (arising from the receipt of medical services, products, or devises) if the date on which the debt was placed for collection, charged to profit or loss, or any similar action antedates the report by less than 180 days, or (2) a fully paid or settled medical debt that had been characterized as delinquent, charged off, or in collection which, from the date of payment or settlement, antedates the report by more than 45 days.

The bill also amends the Fair Debt Collection Practices Act to require a debt collector, before informing a consumer reporting agency regarding a medical debt, to notify the consumer in writing that: (1) the debt collector could report the debt to a consumer reporting agency 180 days after the notification is sent, specifying the precise end date of the period; (2) the debt will not be reported if it is settled or paid during the 180-day period; and (3) the consumer may, during the 180-day period, either communicate with an insurance company to determine coverage for the debt or apply for financial assistance.

The debt collector may not communicate with or report any information to a consumer reporting agency concerning such a debt during the 180-day period.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2015-05-20 00:00:00

Preserving Capital Access and Mortgage Liquidity Act of 2015 

This bill amends the Federal Home Loan Bank Act to redefine "community financial institution" to include either a federal or state credit union.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2015-07-08 00:00:00

Military Consumer Protection Act

This bill amends the Consumer Financial Protection Act to extend Consumer Financial Protection Bureau oversight and protection to provisions under the Servicemembers Civil Relief Act concerning:

 future financial transactions, excluding insurance; default judgments, excluding child custody proceedings; interest rates on pre-service debts; evictions; purchase or lease installment contracts; mortgages and trusts; motor vehicle leases; telephone service contracts; and waiver of rights pursuant to a written agreement, excluding bailments.
Topic: Domestic Commerce — Consumer Finance
Subject: Commerce
Date: 2015-07-22 00:00:00

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

E-Warranty Act of 2015

(Sec. 3) Amends the Magnuson-Moss Warranty--Federal Trade Commission Improvement Act to require the Federal Trade Commission to revise its rules to allow manufacturers to satisfy requirements concerning the availability of written warranties on consumer products by making the terms accessible in a digital format on the manufacturer's Internet website. Requires the product, packaging, or product manual in the case of a warranty provided on a website in such manner to display to the consumer: (1) the website where the warranty terms can be obtained; and (2) a phone number, postal address, or other reasonable non-Internet based means of contacting the manufacturer to obtain and review such terms.

Prohibits such Internet website warranties from satisfying any requirement that a warranty be made available prior to sale in a retail location, by catalog, or through door-to-door sales, unless the seller makes the warranty available, through electronic or other means, at the location of the sale before the purchase.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2015-07-23 00:00:00

(This measure has not been amended since it was introduced. The expanded summary of the House reported version is repeated here.)

Homebuyers Assistance Act

(Sec. 2) This bill prohibits until February 1, 2016, enforcement against any person of integrated disclosure requirements for mortgage loan transactions under the Real Estate Settlement Procedures Act of 1974, the Truth in Lending Act, and regulations issued under such Acts.

No suit may be filed against any person for a violation of such requirements occurring before that date, as long as the person has made a good faith effort to comply with them.