jiayi-li23/proxann_data huggingface dataset:
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2015-05-18 00:00:00

Amends the Federal Home Loan Bank Act to treat certain privately (but not federally) insured credit unions as insured depository institutions for purposes of determining eligibility for membership in a federal home loan bank.

Permits a credit union which lacks federal deposit insurance and has applied for membership in a federal home loan bank to be treated as meeting all the eligibility requirements for federal deposit insurance if specified conditions are met, including: (1) that the supervisor of the chartering state has determined that the credit union meets all federal deposit insurance eligibility requirements; (2) the state supervisor of the credit union's private deposit insurer receives annual independent actuarial opinions that the private insurer has sufficient reserves for losses, as well as periodic actuarial studies of the insurer's capital adequacy; and (3) the credit union's financial information is made available to the Federal Housing Finance Agency (FHFA) or to the federal home loan bank.

Deems such a credit union to have met the eligibility criteria for federal home loan bank membership if, 12 months after its application date, the state supervisor has failed to act upon the application.

Prohibits the application of a state law authorizing a conservator or liquidating agent of a credit union to repudiate contracts to any: (1) extension of credit from a federal home loan bank to a credit union which is a member of that bank, or (2) security interest in the assets of the credit union securing such extension of credit.

Declares that if a federal home loan bank makes an advance to a state-chartered credit union that is not federally insured: (i) the bank's interest in any collateral securing such advance has the same priority and is afforded the same standing and rights that the security interest would have had if the advance had been made to a federally-insured credit union, and (2) the bank has the same right to access such collateral that it would have had if the advance had been made to a federally-insured credit union.

Amends the Federal Deposit Insurance Act to require private deposit insurers of credit unions that are members of a federal home loan bank to submit copies of their audit reports within seven days to the FHFA.

 Directs the Government Accountability Office to study: (1) the adequacy of insurance reserves held by a private deposit insurer that insures deposits in an insured credit union or any credit union eligible to apply to become one, and (2) such credit unions' compliance with federal regulations governing disclosure of a lack of federal deposit insurance.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2015-05-21 00:00:00

Credit Union Residential Loan Parity Act

Amends the Federal Credit Union Act to revise the definition of "member business loan," which currently excludes an extension of credit fully secured by a lien on a 1- to 4-family dwelling that is a member's primary residence.

Removes the condition that the dwelling be a member's primary residence, and so denying eligibility for a member business loan to any requested extension of credit that would be fully secured by a lien on a 1- to 4-family dwelling, regardless of whether it is or is not the member's primary residence.

Declares that this Act does not preclude the National Credit Union Administration from treating an extension of credit fully secured by a lien on a 1- to 4-family dwelling that is not a member's primary residence as a member business loan for purposes other than certain member business loan limitation requirements under the Act.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2015-06-16 00:00:00

Preserving American Homeownership Act of 2015

 Requires the Director of the Federal Housing Finance Agency and the Federal Housing Commissioner each to establish a pilot program to encourage the use of shared equity mortgage modifications designed to return greater net present value to investors than other loss-mitigation activities, including foreclosure.

Requires a shared equity mortgage modification to:

 reduce by specified action the loan-to-value ratio of a covered mortgage to 100% or less within 3 years; reduce the interest rate if such a reduction of principal would not result in an affordable reduced monthly payment; reduce to a specified amount any periodic payment the homeowner is required to make; require the homeowner to pay the investor, upon refinancing or selling the real property securing a covered mortgage, up to 50% of the amount of the equity value of the real property, subject to certain conditions; be designed to deliver maximal net present value to the investor; be based on specified factors; and require disclosure to the homeowner, before entering into the shared equity mortgage modification, of the estimated net present value of the equity sharing interest to be determined under this Act.
Topic: Domestic Commerce — Consumer Finance
Subject: Taxation
Date: 2015-06-23 00:00:00

Amends the Internal Revenue Code to make permanent the tax deduction for mortgage insurance premiums.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2015-07-07 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: Finance and financial sector
Date: 2015-07-23 00:00:00

Stop Errors in Credit Use and Reporting Act or the SECURE Act

This bill amends the Fair Credit Reporting Act, with respect to civil liability for either willful or negligent noncompliance by a consumer reporting agency with respect to consumer credit protection requirements, to authorize a court to award: (1) injunctive relief to require compliance with that Act, and (2) costs and reasonable attorney fees to the prevailing party in any successful action for injunctive relief. A consumer reporting agency shall include, in its mandatory notification to a furnisher of disputed information in a consumer's file, all documentation provided by the consumer.

The furnisher of disputed information, upon notification of a dispute, shall review and consider all documentation provided by the consumer.

The Consumer Financial Protection Bureau (CFPB) shall: (1) prepare, and deliver to appropriate parties, reports concerning disputed information received by consumer reporting agencies; and (2) prescribe rules for the gathering of information relating to such disputes.

The CFPB shall also establish mandatory procedures for a consumer reporting agency to follow to assure maximum possible accuracy of all consumer reports.

A consumer reporting agency must give a consumer a credit score free of charge if one is requested in connection with a free annual consumer report.

A consumer reporting agency must also provide free disclosures, even without consumer request, to any consumer who has received either a notice of adverse action or an offer of credit on materially less favorable terms. (Present law requires such disclosure only if the consumer so requests).

The CFPB shall establish three publicly available registries of consumer reporting agencies, including registries of: (1) nationwide consumer reporting agencies; and (2) nationwide specialty consumer reporting agencies.

Upon request by a consumer under age 16 (minor consumer) or the consumer's legal guardian or custodian, a consumer reporting agency must create a blocked file (with name, Social Security number, date of birth, and any credit information) for the minor consumer, or convert to a blocked file a file of the minor consumer already in existence. The Government Accountability Office shall study: (1) credit systems in the international credit system with government-administered consumer credit reporting systems; and (2) the feasibility of a national, U.S. government-administered consumer credit reporting system.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2015-08-05 00:00:00

Relationship Lending Preservation Act of 2015

This bill directs the Consumer Financial Protection Bureau to issue regulations to include as a qualified mortgage any mortgage loan that: (1) is extended by a creditor that, together with its affiliates, has less than $10 billion in total consolidated assets and is a member of a Federal Home Loan Bank; (2) meets qualifying criteria of the Truth in Lending Act; (3) is eligible to be purchased by a Bank pursuant to its underwriting and documentation requirements; and (4) is eligible to be purchased and is held by a Bank pursuant to regulations of the Federal Housing Finance Agency.

The Bureau shall assess these regulations, addressing, among other relevant factors, their usage by community financial institutions, their impact on access to residential mortgage loans, and whether the Banks actually have established underwriting and documentation requirements.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2015-08-05 00:00:00

Equal Employment for All Act of 2015

 Amends the Fair Credit Reporting Act to prohibit a current or prospective employer from using a consumer report or an investigative consumer report, or from causing one to be procured, for either employment purposes or for making an adverse action, if the report contains information that bears upon the consumer's creditworthiness, credit standing, or credit capacity.

Makes exceptions to such prohibition when: (1) the consumer applies for, or currently holds, employment that requires a national security clearance; or (2) a consumer report is otherwise required by law.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2015-09-15 00:00:00

(This measure has not been amended since it was introduced. The expanded summary of the Senate passed version is repeated here.) Equity in Government Compensation Act of 2015 (Sec. 3) This bill requires the Director of the Federal Housing Finance Agency to suspend the compensation packages approved for 2015 for the chief executive officers of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation (government sponsored enterprises or GSEs), and any affiliates, and in lieu of such packages establish the compensation and benefits for each such chief executive officer at the same level in effect for that officer as of January 1, 2015. Such compensation and benefits may not thereafter be increased.

This suspension shall not be construed to affect the prohibition of the STOCK Act against receipt of bonuses by the chief executive officer of each GSE during any period of conservatorship. It shall only apply to such a chief executive officer if the GSE is in conservatorship or receivership as a critically undercapitalized regulated entity pursuant to the Federal Housing Enterprises Financial Safety and Soundness Act of 1992.

(Sec. 4) Any chief executive officer affected by this compensation package suspension shall not be considered a federal employee.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2015-09-16 00:00:00

Jumpstart GSE Reform Act 

 Prohibits the use of an increase in the guarantee fee required to be charged by the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), or any affiliate of such organizations (enterprises) to offset an increase in outlays or a reduction in revenues for any purposes other than those related to the enterprises' business functions under: (1) the congressional budget, (2) the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act), or (3) the Statutory Pay-As-You-Act 2010.

Prohibits the Department of the Treasury from selling, transferring, relinquishing, liquidating, divesting, or otherwise disposing of any outstanding shares of senior preferred stock acquired pursuant to a specified Senior Preferred Stock Purchase Agreement between Treasury and an enterprise until Congress has passed and the President has signed into law legislation that includes a specific instruction to Treasury regarding the sale, transfer, relinquishment, liquidation, divestiture, or other disposition of the senior preferred stock so acquired.
Topic: Domestic Commerce — Consumer Finance
Subject: Science, technology, communications
Date: 2015-11-04 00:00:00

Help Americans Never Get Unwanted Phone Calls Act of 2015 or the HANGUP Act 

This bill amends the Communications Act of 1934 and the Bipartisan Budget Act of 2015 to repeal provisions that authorize the use of automated telephone equipment to call cellular telephones for the purpose of collecting debts owed to the U.S. government.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2015-11-05 00:00:00

Stop Debt Collection Abuse Act of 2015

This bill amends the Fair Debt Collection Practices Act to redefine: (1) "debt" to include any obligation or alleged obligation of a consumer to pay a loan, an overpayment, a fine, penalty, a fee, or other money to a federal agency and that is at least 180 days past due; and (2) "debt collector" to include any person who regularly collects debts owed or allegedly owed to a federal agency.

A federal agency that is a creditor may sell or transfer a debt to a debt collector beginning 180 days after the obligation or alleged obligation arises.

The Act is further amended by making the collection of any amount (including any interest, fee, charge, or expense incidental to the principal obligation) an unfair practice unless:

 the amount is expressly authorized by the agreement creating the debt or permitted by law (as under current law); or in the case of a debt owed a federal agency, the collection charge is reasonable in relation to actual collection costs, is authorized by a contract between the debt collector and the federal agency, and does not exceed 10% of the amount the debt collector collects. The Government Accountability Office must study the use of debt collectors by state and local government agencies.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2015-12-03 00:00:00

Credit Access and Inclusion Act of 2015

This bill amends the Fair Credit Reporting Act to authorize a person or the Department of Housing and Urban Development (HUD) to furnish to a consumer reporting agency information relating to the performance of a consumer in making payments: (1) under a lease agreement for a dwelling, including a lease in which HUD provides subsidized payments; or (2) pursuant to a contract for a utility or telecommunications service.

Information about a consumer's usage of any utility or telecommunications services may be furnished to a consumer reporting agency only to the extent that the information relates to payment by the consumer for such services or other terms of the provision of such services, including any deposit, discount, or conditions for interruption or termination of service.

An energy utility firm may not report payment information to a consumer reporting agency with respect to an outstanding balance of a consumer as late if the firm and the consumer have entered into a payment plan and the consumer is meeting the obligations of such plan.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2016-02-25 00:00:00

Medical Debt Act of 2016

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: 2016-03-10 00:00:00

Reforming CFPB Indirect Auto Financing Guidance Act 

 This bill declares without force or effect Consumer Financial Protection Bureau (CFPB) Bulletin 2013-02 (Indirect Auto Lending and Compliance with the Equal Credit Opportunity Act), published March 21, 2013.

 The Consumer Financial Protection Act of 2010 is amended to direct the CFPB, when proposing and issuing guidance primarily related to indirect auto financing, to:

 provide for a public notice and comment period before issuing the guidance in final form; make publicly available all information relied on by the CFPB; redact any information exempt from disclosure under the Freedom of Information Act; consult with the Board of Governors of the Federal Reserve System, the Federal Trade Commission, and the Department of Justice; and study the costs and impacts of the guidance to consumers and women-owned, minority-owned, veteran-owned, and small businesses, including consumers and small businesses in rural areas.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2016-04-07 00:00:00

Stopping Abuse and Fraud in Electronic Lending Act of 2016 or the SAFE Lending Act of 2016

This bill amends the Electronic Fund Transfer Act (EFTA) to declare that a remotely created check may only be issued by a person specifically designated in writing by the consumer to the insured depository institution at which the consumer maintains the account from which the check is drawn.

 A remotely created check is a paper or electronic check that:

 is not created by the financial institution that holds the customer account from which the check is to be paid; and does not bear a signature applied, or purported to be applied, by the account holder. A consumer may revoke authorization for remotely created checks at any time.

The bill prohibits issuance of any payment order in response to a consumer's exercise of federal consumer financial rights.

Any voluntary electronic fund transfer to repay a small-dollar consumer credit transaction shall be treated as preauthorized under the Truth in Lending Act (TILA).

The TILA is amended to require registration with the Consumer Financial Protection Bureau (CFPB) by any small-dollar lender that facilitates, brokers, arranges, or gathers applications for small-dollar consumer credit (of up to $5,000, adjusted for inflation) extended pursuant to an open-end, non-open-end, or other CFPB-determined credit plan meeting specified criteria.

Small-dollar consumer credit transactions must comply with state law where the consumer resides.

The EFTA is amended to:

 declare unlawful overdraft fees charged on a general-use prepaid card; and authorize the CFPB to prohibit fees for declined transactions involving such a card. The TILA is further amended to prohibit a person from certain activities, including distributing sensitive personal financial information, in connection with a small-dollar consumer credit transaction, if that person ("lead generator") does not itself grant the credit directly to the consumer.

The Government Accountability Office (GAO) shall study: (1) the availability of capital on Indian reservations, and (2) the impact on tribal economic opportunity and wealth of small-dollar consumer credit extensions to tribal members through Internet and non-Internet means.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2016-05-26 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 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: Finance and financial sector
Date: 2016-07-07 00:00:00

Preventing Abandoned Foreclosures and Preserving Communities Act of 2016

This bill amends the Real Estate Settlement Procedures Act of 1974 to require a servicer of a federally related or federally backed mortgage loan to provide, with respect to foreclosure proceedings, specified notice to the borrower and applicable taxing district.

Unless specified requirements are met, a servicer of a loan insured by the Federal Housing Administration and backed by either the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac) may not abandon an initiated foreclosure.

The Consumer Financial Protection Bureau must establish a database of abandoned foreclosures.

The Government Accountability Office shall conduct a study on abandoned foreclosures.
Topic: Domestic Commerce — Consumer Finance
Subject: Taxation
Date: 2016-07-13 00:00:00

First-Time Homebuyer Credit Act of 2016 

This bill amends the Internal Revenue Code to extend and modify the first-time homebuyer tax credit, which expired in 2010.

The bill allows a refundable tax credit for first-time homebuyers of a principal residence in the United States who are at least 18 years of age and not claimed as a dependent by another taxpayer. The credit is equal to 2.5% of the purchase price of the residence, subject to a $10,000 dollar limitation and limits based on the purchase price of the home and the adjusted gross income of the taxpayer.

A taxpayer that purchases and disposes of a residence in the same taxable year is not eligible for the credit. Taxpayers that dispose of the residence within five years of claiming the credit are liable for additional taxes based on a specified recapture percentage of the amount of the credit that was allowed. The bill includes several exceptions for a disposal that occurs after circumstances such as a death, divorce, involuntary conversion of the residence, relocation of a military duty station, or changes in employment or health status.