jiayi-li23/proxann_data huggingface dataset:
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2015-07-23 00:00:00

Vacant Homes Act of 2015

This bill provides the mortgage owner of a home in foreclosure who receives notice from the homeowner (or from the homeowner's designee) of a qualified offer to buy the home in a short sale 90 days after receiving the notice to respond to the homeowner and the person who made the offer. The same response time requirement shall apply to the owner of a foreclosed home (or a servicer acting on the owner's behalf) who receives a qualified offer to buy it.

A response rejecting an offer shall be sufficient only if, among other things, it makes a counteroffer meeting specified criteria.

Aggrieved homeowners or offerors may bring private civil actions for failure to receive a timely and adequate mandatory response.

The Consumer Financial Protection Bureau may apply to the U.S. district court for the district in which a home in foreclosure or a foreclosed home is located for an order requiring either the mortgage owner of the home in foreclosure or the owner of the foreclosed home (or a servicer acting on the owner's behalf) to comply with the timely and adequate response requirements of this Act.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2015-07-29 00:00:00

Mortgage Fairness Act of 2015 

This bill amends the Truth in Lending Act to revise points and fees under a high-cost mortgage which currently include all compensation paid directly or indirectly by a consumer or creditor to a mortgage originator from any source, including a mortgage originator that is also the creditor in a table-funded transaction.

"Table funding" means a settlement at which a loan is funded by a contemporaneous advance of loan funds and an assignment of the loan to the person advancing the funds. A table-funded transaction is not a transaction in the secondary mortgage.

Compensation from any source shall not include any compensation taken into account in settling the mortgage interest rate and for which there is no separate charge to the consumer.

Such compensation shall include, however, any other compensation paid directly or indirectly by a consumer or creditor to an individual employed by or contracting with the originator or a mortgage originator.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2015-09-08 00:00:00

Federal Home Loan Bank Product Act

This bill amends the Commodity Exchange Act to make the Federal Housing Finance Agency the appropriate federal banking agency for any Federal Home Loan Bank (thereby exempting any Federal Home Loan Bank loan from regulation as a swap).

The Legal Certainity for Bank Products Act of 2000 is amended to include as a bank any Federal Home Loan Bank.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2015-09-16 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, through assistance provided under the Home Affordable Modification Program under the Secretary of the Treasury's Making Home Affordable initiative, the use of shared appreciation mortgage modifications that: (1) are designed to return greater cash flow to investors than other loss-mitigation activities, including foreclosure; and (2) result in positive net present value for the investor.

Requires a shared appreciation mortgage modification to: (1) reduce by specified action the loan-to-value ratio of a covered mortgage to 115% immediately upon modification and to 95% within 3 years; (2) reduce the interest rate if such a principal reduction would not result in an affordable reduced monthly payment; (3) reduce to a specified amount any periodic payment the homeowner is required to make; (4) require the homeowner to pay the investor, after refinancing or selling the real property securing a covered mortgage, up to 50% of the amount of any increase in the value of the real property during a specified period; and (5) result in a positive net present value for the investor after taking into account the principal reduction and, if necessary, any interest rate reduction.

Requires the Director to: (1) provide that an enterprise may negotiate regarding a shared appreciation mortgage modification of a covered mortgage with any mortgage insurance provider for a mortgage on the subject property, and (2) allow advanced claim agreements with respect to such mortgage insurance policies.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2015-10-22 00:00:00

This bill directs the Federal Housing Finance Agency to withdraw its proposed rule entitled "Members of Federal Home Loan Banks" (September 12, 2014).

The Government Accountability Office shall report to certain congressional committees on the impact of the rule upon the Federal Home Loan Bank System and financial intermediaries.
Topic: Domestic Commerce — Consumer Finance
Subject: Taxation
Date: 2015-11-05 00:00:00

179 Act

This bill amends the Internal Revenue Code, with respect to the taxpayer election to expense depreciable business property (179 property), to make permanent: (1) the increased $500,000 limitation on the amount of such property eligible for expensing; (2) a $2 million threshold for depreciable property, after which the amount of the expensing allowance is reduced; (3) the expensing of computer software; and (4) the revocability of the expensing election.

The bill also makes permanent the expensing allowance for qualified real property, which includes qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property.The bill allows a carryover of disallowed amounts of qualified real property to taxable years beginning after 2014.
Topic: Domestic Commerce — Consumer Finance
Subject: Taxation
Date: 2015-11-19 00:00:00

First Time Homeowner Savings Plan Act

This bill amends the Internal Revenue Code to increase from $10,000 to $25,000 the maximum amount that may be withdrawn, without penalty, from a qualified retirement plan for purposes of assisting a first-time homebuyer in purchasing a principal residence. This increased distribution amount shall be adjusted annually for inflation for taxable years beginning after 2015.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2015-12-03 00:00:00

Prompt Notification of Short Sales Act 

 This bill requires each servicer of a home mortgage to provide in writing to a mortgagor of a residential mortgage loan specified prompt notifications and decisions regarding the mortgagor's written request for a short sale of the dwelling or residential real property subject to the mortgage, deed of trust, or other security interest securing the mortgage loan.

An aggrieved individual may bring a civil action for equitable relief and a monetary award of $1,000 for any violation of this Act.

This bill shall not apply to certain residential mortgages entered into before its enactment whose mortgage agreements explicitly provide a procedure or terms for a short sale approval.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2015-12-10 00:00:00

Credit Score Competition Act of 2015

This bill amends the Federal National Mortgage Association Charter Act to authorize the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (government sponsored enterprises, or GSEs) to use credit scores in purchasing residential mortgages only under certain conditions, including that the GSE has established and made publicly available a description of the process it will use to validate and approve credit scoring models.

The Director of the Federal Housing Finance Agency may, by regulation, establish standards and criteria for any process used by a GSE to validate and approve credit scoring models pursuant to the Acts.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2016-02-11 00:00:00

Senior Safe Act of 2016

This bill provides immunity from liability of: (1) a supervisor, compliance officer (including a Bank Secrecy Act Officer), or registered representative for a covered financial institution who has received training in the identification and reporting of suspected exploitation of a senior citizen (at least 65 years old) and the protection of customer privacy that is appropriate to job responsibilities for disclosing such exploitation to a covered agency if the individual made the disclosure with reasonable care, including reasonable efforts to avoid disclosure other than to a covered agency; and (2) the financial institution for such a disclosure if the individual was employed by or, in the case of a registered representative, affiliated or associated with, the institution at the time of the disclosure and the institution had provided such training.

A "covered financial institution" is a credit union, depository institution, investment advisor, broker-dealer, insurance company, or state attorney general. A "covered agency" is a state financial regulatory agency, each of the federal financial institutions regulatory agencies, the Securities and Exchange Commission, a law enforcement agency, a state or local agency responsible for administering adult protective service laws, or a state attorney general.

A covered financial institution may provide such training to each of its supervisors, compliance officers (including a Bank Secrecy Act Officer), or registered representatives who: (1) may come into contact with a senior citizen as a regular part of duties; or (2) may review or approve the financial documents, records, or transactions of a senior citizen in connection with providing financial services.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2016-02-12 00:00:00

This bill amends the Federal Home Loan Bank Act to authorize Federal Home Loan Banks to make investments related to rural infrastructure development. Federal Home Loan Banks may purchase investment-grade securities from nonmember lenders that are organized as cooperatives, have received financing from the Federal Financing Bank, and have experience providing loans to cooperatives eligible to receive loans from the Department of Agriculture's Rural Utilities Service.
Topic: Domestic Commerce — Consumer Finance
Subject: Housing and community development
Date: 2016-02-25 00:00:00

Right to Rent Act of 2016

This bill grants eligible mortgagors subject to foreclosure proceedings the right to continue to occupy foreclosed properties subject to the payment of fair market rent for a period of five years that begins upon the commencement of occupancy of such property.

The Department of Housing and Urban Development shall: (1) monitor compliance with this Act, (2) provide assistance to eligible mortgagors in exercising their rights under this Act, and (3) conduct outreach activities to inform eligible mortgagors of this Act.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2016-04-12 00:00:00

Housing Finance Restructuring Act of 2016

This bill directs the Department of the Treasury to modify the Senior Preferred Stock Purchase Agreement for each of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (enterprises) to:

 reduce to zero (deem as repaid in full) the liquidation preference on the Variable Liquidation Preference Senior Preferred Stocks of each enterprise; require redemption of the Variable Liquidation Preference Senior Preferred Stock of each enterprise upon a specified date, deeming it no longer outstanding and terminating all rights of the stockholders. Treasury shall exercise the warrants for the purchase of common stock of the enterprises under the Senior Preferred Stock Purchase Agreements.

At any time an enterprise is not fully capitalized, the Federal Housing Finance Agency (FHFA) shall require that the net income (after deduction of all associated expenses) of each enterprise for the fiscal year be retained as capital reserves, and not be allocated to fund the Housing Trust Fund or the Capital Magnet Fund for affordable housing.

The FHFA shall:

 report a capital restoration plan for each enterprise, and terminate the conservatorship of an enterprise when it attains an amount of capital equal to or exceeding 5% of its risk-weighted assets. Any individual or entity adversely affected or aggrieved by action or inaction on the part of the FHFA or Treasury in violation of this bill or the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 may commence a civil action in a U.S. district court for prospective injunctive relief against the FHFA or Treasury, as appropriate.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2016-04-19 00:00:00

Homeowner Information Privacy Protection Act

This bill directs the Government Accountability Office to study whether the data required to be published, made available, or disclosed under the final rule of the Consumer Financial Protection Bureau (CFPB), entitled "Home Mortgage Disclosure (Regulation C)," in connection with other publicly available data sources, could allow for or increase the probability of:

 exposure of the identity of mortgage applicants or mortgagors through reverse engineering; exposure of mortgage applicants or mortgagors to identity theft or the loss of sensitive personal financial information; the marketing or sale of unfair, deceptive, or abusive products to mortgage applicants or mortgagors based on such data; personal financial loss or emotional distress resulting from the exposure of mortgage applicants or mortgagors to identity theft or the loss of sensitive personal financial information; and the potential legal liability facing the CFPB. The prior rule, also entitled "Home Mortgage Disclosure (Regulation C)," was issued by the Board of Governors of the Federal Reserve System. The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) transferred authority over Regulation C from the Federal Reserve Board to the CFPB. The new final rule, issued by the CFPB, adds several new home mortgage reporting requirements and revises several existing ones, and also modifies Regulation C's institutional and transactional coverage.

Depository institutions shall not be required to publish, disclose, or otherwise make available to the public, pursuant to the Home Mortgage Disclosure Act of 1975, any data that was not so required on the day before the enactment of Dodd-Frank.

The CFPB and the Financial Institutions Examination Council shall not publish, disclose, or otherwise make available to the public any such information from a depository institution.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2016-04-20 00:00:00

Home Mortgage Disclosure Adjustment Act

This bill amends the Home Mortgage Disclosure Act of 1975 to exempt from maintenance of mortgage loan records and disclosure requirements depository institutions that have originated in each of the two preceding calendar years:

 fewer than 100 closed-end mortgage loans, and fewer than 200 open-end lines of credit.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2016-04-20 00:00:00

Fair Access to Credit Scores Act of 2016

This bill amends the Fair Credit Reporting Act to require certain consumer reporting agencies to disclose, upon request and without charge, as part of a consumer's free annual disclosure, a current credit score generated using the scoring methodology most frequently used to generate scores sold to creditors, including information regarding other risk scores or predictors in the consumer's file.

Those agencies shall also furnish any other consumer information the Consumer Financial Protection Bureau considers appropriate with respect to consumer financial education, including where the consumer's credit score falls with respect to a range of possible credit scores, and the general factors contributing to consumer credit scores.

Upon consumer request for a credit score, a consumer reporting agency shall disclose any a credit or risk score in a consumer's file.

All consumer reporting agencies shall maintain credit scores or other risk scores or predictors in the consumer's file for at least one year after the data is generated.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2016-04-21 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: 2016-04-26 00:00:00

Free Credit Score Act of 2016

This bill amends the Fair Credit Reporting Act to require nationwide consumer reporting agencies to include the consumer's credit score when furnishing a consumer with a free annual report.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2016-04-28 00:00:00

Zombie Property Relief Act of 2016 

This bill authorizes the Consumer Financial Protection Bureau (CFPB) to assess a specified fine against a mortgagee that has failed to maintain residential real property that is subject to a federally-related mortgage in foreclosure (nuisance property) until ownership has been transferred to a new owner and the deed for such property transfer has been recorded.

The CFPB shall establish a system for reporting the existence of nuisance properties.
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2016-04-28 00:00:00

Unfair or Deceptive Acts or Practices Uniformity Act 

This bill amends the Consumer Financial Protection Act of 2010 to repeal the authority of the Consumer Financial Protection Bureau (CFPB) to take action to prevent a covered person or service provider from committing or engaging in an abusive act or practice under federal law in connection with any transaction with a consumer for a consumer financial product or service, or the offering of one.

Regarding CFPB authority over deceptive acts, the bill prohibits the CFPB from taking any action against a covered person or service provider without first consulting with such person's primary financial regulatory agency.

The CFPB must comply with the same rules as govern the Federal Trade Commission (FTC) regarding unfair or deceptive acts or practices in or affecting commerce. (The FTC may prescribe interpretive rules, general policy statements, and definitions regarding unfair or deceptive acts or practices, but has no authority to prescribe any other kind of rule with respect to such acts or practices.)
Topic: Domestic Commerce — Consumer Finance
Subject: Finance and financial sector
Date: 2016-04-29 00:00:00

Small Business Credit Card Act of 2016

 This bill amends the Truth in Lending Act to cover any qualified small business as a consumer with respect to a credit card account under an open end credit plan (thereby extending credit card protections under such Act to small businesses).

The bill defines "qualified small business" under the Act as any business concern having 50 or fewer employees, whether or not: (1) the credit card account is in the name of an individual or a business entity, and (2) any credit transaction involving such account is for business or personal purposes.

A qualified small business may elect to opt out of coverage by the Act.

Certain creditor disclosures are required before opening any account under an open end consumer credit plan for a qualified small business.

A creditor is prohibited from: (1) discriminating against any business concern having 50 or fewer employees in connection with any credit card account under an open end credit plan; or (2) requiring any qualified small business to make an opt-out election as a condition for opening a credit card account, or for providing more advantageous terms for such an account.