zli12321/Bills huggingface dataset:
Consumer Credit Safety Commission Act of 2008 - Establishes the Consumer Credit Safety Commission to promulgate consumer credit safety rules that: (1) ban abusive, fraudulent, unfair, deceptive, predatory, anticompetitive, or otherwise anti-consumer practices or product features for creditors; (2) place restrictions on consumer credit practices or product features to reduce the likelihood that they may be provided in a manner inconsistent with this Act; and (3) establish requirements for clear and adequate information appropriate to advance the objectives of this Act. Directs the Commission to: (1) establish and maintain a best practices guide for providers of consumer credit; (2) conduct, or award grants or contracts for, continuing studies and investigations of consumer credit industry practices; (3) help consumer credit providers to develop consumer credit safety standards or guidelines; and (4) establish and operate a consumer credit customer hotline to register complaints and receive information on how to combat anti-consumer credit. Directs the Commission to establish a program to promote federal-state cooperation to implement this Act. Sets forth civil and criminal penalties for acts prohibited by this Act.

Date: 2008-09-26
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Implementing the Controlled Unclassified Information Framework Act of 2008 - Establishes within the National Archives and Records Administration (NARA) a Controlled Unclassified Information Office, headed by a Director, who shall be appointed by and report directly to the Archivist of the United States.Directs the Archivist, acting through the Director, to : (1) develop and publicly issue the controlled unclassified information framework (a set of policies and procedures governing the designation, marking, safeguarding, and dissemination of controlled unclassified information that originates in a federal agency) and controlled unclassified information implementation guidance; (2) establish safeguarding and dissemination controls; (3) establish standards for the designation of controlled unclassified information; (4) establish, approve, and maintain safeguarding standards and dissemination instructions for controlled unclassified information; and (5) establish a process that addresses enforcement mechanisms and penalties for improper handling of controlled unclassified information.Establishes a Controlled Unclassified Information Council as a subcommittee of the Information Sharing Council.Requires a federal agency to make available to members of the public all unclassified information that may be released under the Freedom of Information Act.Provides that the right of Congress to obtain access to and to release unclassified information shall remain unimpeded.Requires: (1) the Archivist to report to Congress annually on the implementation of the framework; and (2) the Inspectors General of each agency that is a member of the Information Sharing Council, the Environmental Protection Agency (EPA), and the Nuclear Regulatory Commission (NRC) to audit agency compliance with this Act and report to specified congressional committees and to the Archivist.

Date: 2008-10-01
Topic: Domestic Commerce (Consumer Finance)
Subject: Government operations and politics
Alaska Timber Industry Fairness Act - Establishes a two-year grant program for retooling projects that are designed to facilitate the economic adjustment of specified timber entities by allowing them to: (1) improve or alter their business and practices to become more competitive within the timber industry; or (2) shift to a type of business that is not related to the timber industry. Authorizes the Assistant Secretary for Economic Development of the Department of Commerce to provide grants under such program to any entity that operated in the timber industry in Alaska on January 1, 2008, that operated in Alaska for not less than 10 years, and that can demonstrate that it has been harmed by federal laws or regulations relating to the timber industry, including the United States Forest Service's policies and land management plans completed pursuant to National Environmental Policy Act of 1969.Sets forth provisions concerning eligible uses of grant funding.Treats a grant recipient as a small business concern owned or controlled by socially and economically disadvantaged individuals (as that term is defined in the Small Business Act) for three years after the grant was approved.

Date: 2008-11-19
Topic: Domestic Commerce (Consumer Finance)
Subject: Public lands and natural resources
FBI Priorities Act of 2008 - Authorizes appropriations for FY2009-FY2013 to fund 1,000 additional Federal Bureau of Investigation (FBI) field agents to investigate financial crimes.

Date: 2008-11-19
Topic: Domestic Commerce (Consumer Finance)
Subject: Crime and law enforcement
Home Retention and Economic Stabilization Act of 2008 - Amends the Truth in Lending Act to establish the right of an eligible deferred-foreclosure consumer, defendable in court, to defer initiation of a foreclosure or related action, including a foreclosure sale, brought by any creditor, servicer, or holder of an eligible deferred-foreclosure mortgage, during a specified deferment period. Declares invalid any foreclosure action or proceeding regarding a deferred-foreclosure mortgage if the creditor or servicer fails to notify the consumer: (1) at least 30 days before instituting the action or proceeding; and (2) at least once during each subsequent 30-day period until the foreclosure becomes final. Prescribes procedures governing: (1) initiating foreclosure deferment; (2) payment notices during the deferment period; and (3) the manner of consumer payment during the deferment period. Amortizes over the life of the mortgage the difference between the amount of monthly payment due under the eligible deferred-foreclosure mortgage and the deferment payment amount. Prohibits a creditor or servicer from imposing any late fee or other fee or charge during the deferment period. Requires the creditor or servicer to provide the consumer with separate, written notification, distinct from all other correspondence, regarding: (1) any interest rate increase with respect to a sub-prime mortgage; (2) any minimum monthly payment increase with respect to a negative amortization mortgage; (3) clear and conspicuous disclosure of the good faith estimate of the monthly payment applicable after the adjustment or reset date; and (4) a list of alternatives available to consumers prior to the date of adjustment or increase. Authorizes appropriations for the Neighborhood Reinvestment Corporation to implement foreclosure mitigation activities.

Date: 2008-12-11
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Passenger Vehicle Loss Disclosure Act - Directs the Secretary of Transportation to require all insurers and self-insurers of passenger motor vehicles to disclose to the public, in a commercially reasonable, electronically accessible manner, for each passenger motor vehicle declared or determined to be a total loss: (1) the vehicle identification number and odometer reading; (2) the date of and primary reason for the total loss determination; and (3) whether the airbags deployed.

Date: 2/12/2007
Topic: Domestic Commerce (Consumer Finance)
Subject: Transportation and public works
Systematic Foreclosure Prevention and Mortgage Modification Act - Directs the Chairperson of the Federal Deposit Insurance Corporation (FDIC) to establish a systematic foreclosure prevention and mortgage modification program by: (1) paying mortgage servicers $1,000 to cover expenses for each loan modified according to specified standards; and (2) sharing up to 50% of any losses incurred if a modified loan should subsequently re-default.

Date: 2009-01-06
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Stop Mortgage Fraud Act - Authorizes appropriations to the Department of Justice for FY2009-FY2013 for: (1) the employment of 30 additional agents of the Federal Bureau of Investigation (FBI) and two additional prosecutors to coordinate prosecution of mortgage fraud cases with the offices of the U.S. Attorneys; and (2) the operations of the FBI interagency task forces in the areas with the 15 highest concentrations of mortgage fraud.

Date: 2009-01-06
Topic: Domestic Commerce (Consumer Finance)
Subject: Crime and law enforcement
Economic Recovery Through Responsible Homeownership Act of 2009 - Amends the Internal Revenue Code to allow an individual taxpayer a refundable tax credit for the purchase in 2009 or 2010 of a residence located in the United States if the construction of such residence began before 2009. Allows a credit of either $2,000, $5,000, or $10,000 for downpayments of 5, 10, or 15% of the residence's purchase price respectively.

Date: 2009-01-06
Topic: Domestic Commerce (Consumer Finance)
Subject: Taxation
Emergency Homeownership and Equity Protection Act - Amends federal bankruptcy law governing a Chapter 13 debtor (adjustment of debts of an individual with regular income). Excludes from computation of debts the secured or unsecured portions of: (1) debts secured by the debtor's principal residence if the current value of that residence is less than the secured debt limit; or (2) debts secured or formerly secured by debtor's principal residence that was either sold in foreclosure or surrendered to the creditor if the current value of such real property is less than the secured debt limit. Declares the credit counseling requirement inapplicable to a Chapter 13 debtor who certifies that he or she has received notice that the holder of a claim secured by the debtor's principal residence may commence a foreclosure on the debtor's principal residence. Allows modification of the rights of claim holders, in the event of a foreclosure notice for a chapter 13 debtor, among other means by: (1) reducing a claim to equal the value of the debtor's interest in the residence securing such claim, and any adjustments to a related adjustable rate of interest; (2) waiving early repayment or prepayment penalties; and (3) extending the repayment period. Denies debtor liability for certain fees and charges incurred while the bankruptcy case is pending and arising from a debt secured by the debtor's principal residence, unless the claim holder observes specified requirements. Adds to conditions for court confirmation of a plan in bankruptcy that: (1) the holder of a claim secured by the debtor's principal residence retain the lien securing the claim until the later of the payment of such claim as reduced and modified or the discharge of a debtor from all debts; and (2) the plan modifies the claim in good faith. Excludes from final discharge of a debtor from all debts: (1) any payments to claim holders whose rights are modified under this Act; and (2) any unpaid portion of a claim as reduced.

Date: 2009-01-07
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Housing Opportunity and Mortgage Equity Act of 2009 - Directs the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (the enterprises) to implement a program to purchase and securitize qualified refinancing mortgages and qualified new mortgages on single-family housing in accordance with policies and procedures established by the Director of the Federal Housing Finance Agency (FHFA).Sets forth requirements for the purchase and securitization of qualified mortgages.Directs the Board of Governors of the Federal Reserve System to establish a credit facility of the Federal Reserve System to make credit available to the enterprises at interest rates comparable to certain rates on securities issued by the Secretary of the Treasury.Terminates the requirement under this Act for the enterprises to purchase mortgages after December 31, 2010.

Date: 2009-01-07
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Requires the Consumer Product Safety Commission (CPSC) to issue regulations requiring that a specified warning label be placed on the packaging of any video game that is rated T (Teen) or higher by the Electronics Software Ratings Board.

Date: 2009-01-07
Topic: Domestic Commerce (Consumer Finance)
Subject: Commerce
Heritage Homes Tax Incentive Act of 2009 - Amends the Internal Revenue Code to grant a tax deduction (whether or not the taxpayer itemizes deductions) for 125 percent of residence interest paid or accrued on acquisition indebtedness for heritage homes. Defines a "heritage home" as a taxpayer's principal residence that is at least 50 years old and a certified historic structure in a registered historic district.

Date: 2009-01-08
Topic: Domestic Commerce (Consumer Finance)
Subject: Taxation
Responsible Subprime Lending Act - States that certain revisions added as a final rule by the Board of Governors of the Federal Reserve System (Board) to regulation Z relating to Truth in Lending, shall apply as a matter of law to covered loans for which the creditor receives an application after the end of the 30-day period beginning on the enactment of this Act (except for the final rules on advertising, escrows, and loan servicing). States that certain final rules on escrows shall be effective for covered loans for which the creditor receives an application on or after October 1, 2009, but for such loans [sic] secured by manufactured housing on or after April 1, 2010. Directs the Board to issue a final rule as soon as possible without regard to statutory notice and comment procedures to make certain revisions in accordance with the effective dates provided under this Act.

Date: 2009-01-14
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Amends the Internal Revenue Code to eliminate the 15-year repayment requirement under the first-time homebuyer tax credit and to extend the termination date of such credit until December 31, 2009.

Date: 2009-01-14
Topic: Domestic Commerce (Consumer Finance)
Subject: Taxation
Nationwide Mortgage Fraud Task Force Act of 2009 - Establishes in the Department of Justice (DOJ) a Nationwide Mortgage Fraud Task Force to: (1) establish branches in the 10 states with the highest concentration of mortgage fraud; (2) establish coordinating entities, and solicit the voluntary participation of federal, state, and local law enforcement and prosecutorial agencies, to organize initiatives to address mortgage fraud; (3) train such agencies; (4) collect and disseminate mortgage fraud data; and (5) perform other related functions. Authorizes the Task Force, including its branches, to perform other functions as well, including: (1) initiating federal mortgage fraud investigations and coordinating state and local investigations; (2) establishing a toll-free hotline; and (3) creating a database of mortgage industry license suspensions and revocations.

Date: 2009-01-14
Topic: Domestic Commerce (Consumer Finance)
Subject: Crime and law enforcement
Increases the loan limits during calendar 2009 for: (1) the Federal Housing Administration (FHA) single family housing mortgage insurance programs and the reverse mortgage program; and (2) the conforming loan limits for Fannie Mae and Freddie Mac during 2009. Declares that, if the dollar amount limitation on the principal obligation of a mortgage for which the mortgagee issues credit approval during 2009 for any size residence for any area is less than the dollar amount limitation in effect for 2008 under the Economic Stimulus Act of 2008, the maximum dollar amount limitation on the principal obligation of such a mortgage shall be considered to be the dollar amount limitation in effect for 2008. Declares that, if the conforming loan limitation on the maximum original principal obligation of a mortgage originated during 2009 that may purchased by the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac) for any size residence for any area is less than the maximum original principal obligation limitation in effect for 2008 under the Economic Stimulus Act of 2008, the conforming loan limitation shall be the maximum in effect for 2008. Declares that, for a home equity conversion mortgage (reverse mortgage) for which the mortgagee issues credit approval during 2009, the maximum dollar amount limitation on mortgage insurance benefits shall be considered to require that in no case may such benefits exceed 150% of the limitation on the maximum original principal obligation in effect for conventional mortgages under the Federal Home Loan Mortgage Corporation Act.

Date: 2009-01-15
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
National Financial Literacy Act of 2009 - Amends the Community Reinvestment Act of 1977 to require federal financial supervisory agencies jointly to prescribe regulations establishing: (1) minimum standards to be met by a community-based financial literacy program in order to be eligible for consideration as a qualified community-based financial literacy program; (2) procedures for financial institutions to apply to a federal financial supervisory agency for approval of such a program; and (3) a requirement that financial institutions submit a regular report on how the institution supported and promoted financial literacy in its entire community, including low- and moderate-income neighborhoods. Authorizes a federal financial supervisory agency to take an institution's direct support of a qualified community-based financial literacy program into account when it assesses the institution's record of meeting the community's credit needs. Amends the Internal Revenue Code to allow a tax credit to small businesses for 35% of the expenses paid or incurred for providing qualified continuing financial education to their employees. Requires that preference in federal contracts, loans, and other financial or nonfinancial assistance for small businesses and corporations be given to those providing continuing financial education to their employees.

Date: 2009-01-28
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Shields a servicer of pooled residential mortgages acting in compliance with certain fiduciary duties under the Truth in Lending Act from liability for entering into a loan modification or workout plan in connection with any such mortgages initiated before January 1, 2012. Specifies that such servicers shall not be liable to: (1) any person based on that person's ownership of a residential mortgage loan or any interest in a pool of residential mortgage loans or in securities that distribute payments out of payments in loans on the pool; (2) any person obligated pursuant to a derivatives instrument to make payments determined in reference to any such loans or interest; or (3) any person that insures any such loans or interest under federal, state, or local law. States that such servicers shall not be: (1) limited in loan modification ability, the number of mortgages that can be modified, the frequency of loan modifications, or the range of permissible modifications; or (2) obligated to repurchase loans from or otherwise make payments to the securitization vehicle on account of a loss mitigation workout, or other loss mitigation plan for a residential mortgage or a class of them that constitute a part or all of the mortgages in the securitization vehicle. Makes a mortgage eligible under this Act only if: (1) mortgage default has occurred or is reasonably foreseeable; (2) the property securing the mortgage is occupied by the mortgagor; and (3) the servicer reasonably and in good faith believes that recovery of outstanding principal under the particular modification or workout plan or other loss mitigation action will exceed, on a net present value basis, the anticipated recovery to be realized through foreclosure.

Date: 2009-02-02
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Mortgage and Rental Assistance Reauthorization Act of 2009 - Amends the Robert T. Stafford Disaster Relief and Emergency Assistance Act to authorize the President to provide temporary assistance in the form of mortgage or rental payments for individuals and families who, because of financial hardship caused by a major disaster occurring on or after August 24, 2005, certify that they face dispossession or eviction from a residence by reason of a foreclosure of any mortgage or lien, cancellation of any contract of sale, or termination of any lease, entered into prior to such disaster. Limits assistance to not more than 18 months.

Date: 2009-02-04
Topic: Domestic Commerce (Consumer Finance)
Subject: Emergency management
Honest FHA Originator Act of 2009 - Amends the National Housing Act to remove the Director of the Enforcement Center from the Mortgagee Review Board of the Federal Housing Administration (FHA) of the Department of Housing and Urban Development (HUD). Declares that any person or entity that is not approved by the HUD Secretary is prohibited from serving as a mortgagee and from participating in the origination of an FHA-insured loan. Sets forth mortgagee eligibility criteria. Directs the Secretary to require each mortgagee approved for participation in the FHA mortgage insurance programs to: (1) use the business name of the mortgagee that is registered with the Secretary in all advertisements and promotional materials relating to the business of such mortgagee in the mortgage insurance programs; and (2) maintain copies of such advertisements and promotional materials. Requires an approved mortgagee to submit immediate written notification of the following actions: (1) the debarment, suspension of a Limited Denial of Participation (LDP), or application of other sanctions, fines, or penalties applied to the mortgagee or to any officer, partner, director, principal, manager, supervisor, loan processor, loan underwriter, or loan originator of the mortgagee pursuant to applicable state or federal law; or (2) the revocation of a state-issued mortgage loan originator license or any other similar declaration of ineligibility pursuant to state law. Instructs the Secretary to expand the review of FHA mortgagee applicants and newly approved mortgagees.

Date: 2009-02-23
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Produce the Note Act of 2009 - Prohibits commencement of any foreclosure in connection with certain residential mortgages unless the person commencing the foreclosure complies with specified prerequisites, including identification of the actual holder of the mortgage note, the originating mortgage lender and all subsequent assignees, and other all parties who have an interest in the real estate subject to the mortgage or in the mortgage or its proceeds. Requires the person commencing the foreclosure to: (1) notify the mortgagor, in writing, not less than five days before any action is taken to commence foreclosure; and (2) certify to the court, in the case of a judicial foreclosure, or to the office of the state to which notice is required under state law, that such notice has been provided.

Date: 2009-02-23
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Payday Loan Reform Act of 2009 - Amends the Truth in Lending Act to require a creditor to make specified disclosures when making a payday loan to a consumer. Prohibits a creditor from making a payday loan to any consumer unless: (1) specified notices are posted conspicuously in English and Spanish in the creditor's public lending area, or, if the loan is made using the Internet, fax or other means, posted conspicuously on the creditor's public internet site relating to any such payday loan; and (2) the creditor offers the consumer an extended repayment plan that meets specified requirements. Sets forth prohibited lender practices, including: (1) requiring a consumer to pay interest and fees that, combined, total more than 15 cents for every dollar loaned in connection with a payday loan; (2) threatening or seeking to have the consumer prosecuted in criminal court to collect the loan; and (3) taking or attempting to take an interest in any of the consumer's personal property to secure the loan. Authorizes a consumer to cancel future payment obligations on a payday loan, without cost or finance charges, by: (1) informing the creditor in writing within two days after executing the loan agreement that the consumer wants to rescind the loan; and (2) returning to the creditor the cash amount of the loan principal. Empowers state attorneys general to enforce this Act.

Date: 2009-02-26
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Foreclosure Rescue Fraud Act of 2009 - Prohibits a foreclosure consultant from: (1) receiving compensation from a homeowner for services performed regarding residential real property until such consultant has fully performed each service contracted for; (2) holding power of attorney from any homeowner, except to inspect documents; (3) receiving consideration from a third party in connection with services rendered to a homeowner by such third party with respect to the foreclosure, unless such consideration is fully disclosed in writing before such services are rendered; (4) accepting any wage assignment, lien, or other security to secure compensation for services rendered regarding foreclosure of the residential real property; or (5) acquiring any interest in the residence of a homeowner with whom the consultant has contracted.Sets forth contract requirements. Permits a homeowner to cancel such contract without penalty or obligation.Declares void and unenforceable: (1) any waiver by a homeowner of the protections provided in this Act; and (2) any contract that does not comply with this Act.Requires a loan servicer to notify a homeowner of the dangers of fraudulent activities associated with foreclosure if the servicer finds that the homeowner has failed to make two consecutive payments on a residential mortgage loan and such loan is at risk of foreclosure.Subjects any foreclosure consultant who fails to comply with this Act to liability for actual and punitive damages and attorneys' fees.Empowers the Federal Trade Commission (FTC) and the states to enforce this Act.

Date: 2009-02-26
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Protecting Tenants at Foreclosure Act of 2009 - States that any immediate successor in interest to residential property in foreclosure assumes such interest subject to: (1) giving an existing tenant at least 90-day notice to vacate; and (2) specified rights of such tenant to occupy the premises until the end of the lease. Amends the United States Housing Act of 1937 to require a housing assistance payment contract to provide that in the case of an owner who is an immediate successor in interest pursuant to foreclosure: (1) during the initial term of the lease vacating the property prior to sale shall not constitute other good cause for termination of the lease; but (2) in subsequent lease terms vacating the property prior to sale may constitute good cause if the property is unmarketable while occupied, or if such owner will occupy the unit as a primary residence. Authorizes: (1) a housing assistance payment contract entered into by the public housing agency and the owner of a dwelling unit to provide that the immediate successor in interest to property in foreclosure in which a housing assistance recipient resides assumes such interest subject to the lease between the prior owner and the tenant, and subject to the housing assistance payments contract between the prior owner and the public housing agency for the occupied unit; and (2) the public housing agency, where the successor owner cannot be identified, to use rental funds to pay for the property's utilities if owed by the owner or for reasonable moving costs, including security deposits.

Date: 2009-03-02
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Amends the Truth in Lending Act to prohibit credit from being extended in any consumer credit transaction in which a security interest will be retained or acquired in property located within the United States which will be used as the consumer's principal residence if such consumer lacks a Social Security account number.

Date: 2009-03-03
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Commission on the Foreclosure and Mortgage Lending Crisis Act - Establishes in the legislative branch the Commission on the Foreclosure and Mortgage Lending Crisis to: (1) study and report to Congress on the current legal and regulatory framework governing the housing mortgage lending markets and how it contributed to the increased foreclosure rate; (2) recommend changes to the current framework to prohibit lending practices that have contributed to the mortgage lending crisis; (3) review the impact of subprime abuses and predatory lending practices; (4) assess the role of states in enacting policies to reduce predatory lending practices and abuses in the subprime markets; (5) assess the impact of mortgage-backed securities and the Federal National Mortgage Corporation (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) upon the mortgage lending crisis; and (6) assess the impact of the Community Reinvestment Act of 1977 on the crisis.

Date: 2009-03-03
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Amends the Truth in Lending Act to require any person selling personal property to consumers on a business premises where credit or charge card account applications are made available to display conspicuously a sign that contains the same information required by the Act to be prominently placed in tabular format on the account application itself.

Date: 2009-03-05
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Innocent Check Depositor Protection Act - Amends the Expedited Funds Availability Act to prohibit a receiving depository institution from imposing check dishonorment fees upon a depositor if the check is drawn on an account at an originating institution which subsequently dishonors it for lack of sufficient funds. States that this Act shall not be construed as affecting any intervening depository institution or the costs of services it provides.

Date: 2009-03-05
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Freedom to Bank Act - Terminates any provision of federal law (other than the Internal Revenue Code) that subjects a consumer to a penalty for withdrawing or transferring funds from any transaction account or any savings or time deposit. Declares that no creditor, depository institution, or credit union shall be required to provide periodic statements of account to a customer unless the customer has notified it of an election to receive such statements. Requires such entities to establish a procedure for notifying customers of their right to elect to receive statements of account and the method for implementing such election.

Date: 2009-03-10
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Universal Default Prohibition Act of 2009 - Amends the Truth in Lending Act to prohibit a creditor from: (1) using any adverse information concerning any consumer, including any in a consumer report or any change in the consumer's credit score, as the basis for increasing any annual percentage rate of interest (APR) for a credit card account of the consumer's under an open end consumer credit plan; or (2) removing or increasing any introductory APR for that account, for reasons other than actions or omissions of the consumer directly related to the account. Requires such limitation on the use of adverse information to be clearly and conspicuously described to the consumer by the credit card issuer.

Date: 2009-03-19
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Fairness for Homeowners Act of 2009 - Amends the Truth in Lending Act to prohibit a creditor or mortgage broker from arranging a consumer credit transaction secured by the principal dwelling of a consumer without first verifying the consumer's reasonable ability to to make the scheduled payments of principal, interest (including variable interest), real estate taxes, homeowner's insurance, assessments, and mortgage insurance premiums. Prescribes criteria to: (1) determine such consumer's reasonable ability to pay a variable interest rate; and (2) verify the consumer's income and financial resources. Declares a consumer's statement of income or financial resources insufficient evidence of the consumer's financial status. Prohibits consumer equity in the principal dwelling that secures the consumer credit transaction from being used to establish ability to make payments.Prohibits a mortgage broker or creditor from: (1) steering, counseling, or directing a consumer to rates, charges, principal amount, or prepayment terms that are more expensive than those for which the consumer qualifies; (2) arranging for any consumer credit transaction secured by the principal dwelling of a consumer that is more expensive than that for which the consumer qualifies; (3) engaging in certain mischaracterizations. Prohibits prepayment penalties. Limits finance points, charges, and fees. Cites duties owed to a consumer by a mortgage broker. Requires creditors and mortgage brokers to obtain independent verification that a borrower seeking to refinance a special mortgage has received counseling on the transaction's advisability. Defines "special mortgage" as one that: (1) was originated, subsidized, funded, or guaranteed by or through a state, tribal, or local government, or nonprofit organization; and (2) bears one or more specified nonstandard payment terms which substantially benefit the consumer. Prescribes minimum financial requirements for mortgage brokers. Excludes reverse mortgages from coverage by this Act.

Date: 2009-03-30
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Consumer Lending Education And Reform Act or the C.L.E.A.R. Act - Amends the Truth in Lending Act to limit the interest, fees and charges that a payday lender may require a consumer to pay with respect to an original payday loan and a refinanced payday loan. Prohibits a payday lender from: (1) requiring a consumer to pay an origination fee for a payday loan that is refinanced; or (2) making or refinancing a payday loan unless the creditor has first provided the consumer with a copy of a written loan agreement, signed by the creditor and by the consumer, which includes specified information in English and in the language in which the loan was negotiated. Requires a payday lender to file a surety bond. Prohibits a payday lender from making or refinancing a payday loan unless the terms of the loan require the creditor, upon receiving notice of consumer's inability to repay, to provide the consumer with notice of and the right to opt into an extended payment plan, without charge, one time in any 12-month period. Prohibits a creditor from engaging in any collection activity (or procuring the services of any other for such purpose) during the term of any extended payment plan.

Date: 2009-04-01
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Amends the Truth in Lending Act to set forth restrictions upon the termination of a consumer credit card account due to inactivity. Prohibits a consumer credit card account from being terminated for inactivity unless the cardholder is notified within 60 days before the termination date. Authorizes the cardholder to appeal a termination on the basis of error. Requires the card issuer to: (1) investigate whether such an error occurred; (2) transmit the investigation results to the cardholder; and (3) reopen the credit card account if an error did occur.

Date: 2009-04-02
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Fannie Mae and Freddie Mac Investigative Commission Act - Establishes the Fannie Mae and Freddie Mac Investigative Commission to investigate and make recommendations to Congress regarding certain decisions of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (enterprises) that led to financial instability and federal conservatorship. Requires the Commission to analyze specified topics, including: (1) the role of the enterprises in expanding homeownership and in helping housing market recovery; (2) enterprise involvement in the development of faulty risk standards, accounting practices, and the creation and proliferation of the securitized mortgage instrument, and how such instrument affected the solvency of such enterprises; (3) the role of the respective boards of directors in voting for the policies relating to risk assessments, subprime mortgages, and the international securitization of mortgages; and (4) compensation, stock options, and financial benefits that accrued to executive officers and members of the boards of directors. Requires the enterprises and the Director of the Federal Housing Finance Agency to grant the Commission access to requested records and information.

Date: 2009-04-02
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Savings for American Families' Future Act of 2009 - Amends the Internal Revenue Code to: (1) increase the rate of the tax credit for retirement savings contributions; (2) make such credit refundable; and (3) direct the Secretary of the Treasury to pay matching credit amounts into taxpayer retirement accounts.

Date: 2009-04-02
Topic: Domestic Commerce (Consumer Finance)
Subject: Taxation
Amends title VI (Flexibility and Accountability) of the Elementary and Secondary Education Act of 1965 (ESEA) to create a new Part D: Promoting Youth Financial Literacy. Allows the Secretary of Education to provide grants to states to: (1) assist local educational agencies and public schools provide financial education programs to students in kindergarten through grade 12; and (2) implement financial education professional development programs for teachers and administrators. Requires the competitive award of a specified amount of the grant funds each fiscal year, with the remainder provided to each state on the basis of its share of students in kindergarten through grade 12. Directs the Secretary to make a grant to or contract with an institution of higher education or nonprofit organization that has substantial financial education experience to establish and operate a national clearinghouse of instructional materials and information on model financial education programs and best practices. Amends title V of the ESEA to direct the Secretary to set aside 2% of the funds appropriated for the Fund for the Improvement of Education program each fiscal year for financial literacy activities under such program.

Date: 2009-04-21
Topic: Domestic Commerce (Consumer Finance)
Subject: Education
Savings Recovery Act of 2009 - Amends title II (Old Age, Survivors, and Disability Insurance) of the Social Security Act to increase the monthly exempt amount for individuals who have employment income and who have not reached full retirement age between 2008 and 2010. Amends the Internal Revenue Code to: (1) exclude from the gross income of noncorporate taxpayers in 2009 and 2010 dividend income and gain from the sale or exchange of capital assets; (2) increase the limit on the tax deduction for losses from the sale or exchange of capital assets; (3) allow a tax credit for contributions to a qualified tuition program; (4) eliminate the marriage penalty in income limitations for individual retirement account (IRA) contributions; (5) increase the dollar limitation on contributions, including catch-up contributions, to IRAs; and (6) extend through 2012 the suspension of of minimum withdrawal requirements from pension plans. Amends the Employee Retirement Income Security Act of 1974 (ERISA) to provide special rules in 2009 and 2010 for valuation of assets in defined benefit pension plans.

Date: 2009-04-22
Topic: Domestic Commerce (Consumer Finance)
Subject: Taxation
Kids IRA Act of 2009 or the K-IRA Act - Amends the Internal Revenue Code to establish a tax-exempt individual retirement account for taxpayers under age 26, to be known as a young savers account. Treats such accounts as Roth individual retirement accounts for income tax purposes. Allows an income-based tax deduction for contributions to such accounts, up to $5,000 in any taxable year.

Date: 2009-04-22
Topic: Domestic Commerce (Consumer Finance)
Subject: Taxation
Predatory Mortgage Lending Practices Reduction Act - Amends the Real Estate Settlement Procedures Act of 1974 to prohibit any person, in connection with a subprime federally related mortgage loan, from providing mortgage lending services or mortgage brokerage services unless such person is certified by the Secretary of Housing and Urban Development as having been adequately trained with regard to subprime lending. Amends the Truth in Lending Act to require lenders to establish a best practices plan, meeting certain criteria, to ensure compliance with such Act for high cost mortgages. Proscribes unfair or deceptive acts or practices in providing: (1) mortgage lending services for either a subprime federally related mortgage loan; (2) mortgage brokerage services for such a loan; and (3) appraisal of a property offered as security for repayment of the loan.Sets forth civil penalties for violations. Consumer Fairness Act - Amends the Consumer Credit Protection Act to declare unenforceable a written provision in any consumer contract or transaction which requires binding arbitration to resolve any controversy arising out of such transaction or contract, or the refusal to perform all or any part of the transaction. (Permits post-controversy arbitration agreements.) Amends the Community Development Banking and Financial Institutions Act of 1994 to authorize the Community Development Financial Institutions Fund to make grants to nonprofit community development corporations to educate and train borrowers and community groups regarding illegal and inappropriate predatory lending practices.

Date: 2009-04-27
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Naturalized Citizens Assistance Act - Amends the Workforce Investment Act of 1998 to add to the list of adult education and literacy programs for which certain grants must be used programs of financial literacy education for newly naturalized citizens to help them achieve financial literacy through instruction on such matters as banking, retirement savings, managing credit, as well as predatory lending, identity theft, and other financial abuse schemes.

Date: 2009-04-27
Topic: Domestic Commerce (Consumer Finance)
Subject: Education
Mortgage Assistance Information and Scam Prevention Act of 2009 - Directs the Secretary of Housing and Urban Development (HUD) to require that each covered mortgage servicer provide periodic notice to each mortgagor under a first mortgage on residential real property designed principally for occupancy of one to four families. Requires such a notice to: (1) notify the mortgagor of possible eligibility for federal or federally related homeowner assistance; (2) identify specific programs of HUD, the Rural Housing Service of the Department of Agriculture, the Department of Veterans Affairs (VA), the Department of the Treasury, the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), the Federal Home Loan Banks, and any other federal or federally related entities that provide mortgage relief, mortgage refinancing, loan modification, mortgage foreclosure mitigation, homeowner stability or affordability, or other homeowner assistance; and (3) explain how to obtain further information regarding such programs.

Date: 2009-04-29
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Student Credit Card Transparency Act of 2009 - Amends the Truth in Lending Act to require creditors to report annually to the Federal Reserve Board on the terms and conditions of all business, marketing, and promotional agreements and college affinity card agreements with institutions of higher education, or related alumni organizations or foundations, with respect to college student credit cards issued to students at such schools. Directs the Comptroller General to review such reports and creditor marketing practices periodically and report to Congress on the affect college affinity card agreements and college student credit card agreements have on credit card debt.

Date: 2009-04-30
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Consumer Credit and Debt Protection Act - Amends the Federal Trade Commission Act to give the Federal Trade Commission (FTC) authority to expedite rulemakings concerning consumer credit or debt. Directs the FTC to examine the practices of providers of debt settlement services and prescribe rules necessary to prevent unfair and deceptive acts or practices by such providers. Directs the FTC to examine the practices of automobile dealers with respect to credit and lending and prescribe rules necessary to prevent unfair and deceptive dealer acts or practices. Gives the FTC authority to commence a civil action to recover a civil penalty in a U.S. district court against any person, partnership, or corporation which engages in any unfair or deceptive acts or practices in connection with consumer credit or debt with actual knowledge or knowledge fairly implied on the basis of objective circumstances that such act is unfair or deceptive. Authorizes enforcement of this Act by state attorneys general.

Date: 2009-05-07
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Amends the Fair Credit Reporting Act with respect to the duties of users of consumer reports taking adverse actions on the basis of information contained in such reports. Excludes any health care practice with 20 or fewer employees from the meaning of creditor subject to Red Flag Guidelines regarding identity theft promulgated by the proper federal financial regulatory agency.

Date: 2009-05-12
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Credit Score Fairness Act of 2009 - Amends the Fair Credit Reporting Act to require: (1) each consumer reporting agency to make credit scores available to consumers once each year without charge; and (2) certain creditors (other than mortgage lenders) to disclose consumer credit scores that were used in making any determination with respect to extending the consumer credit.

Date: 2009-05-12
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector