zli12321/Bills huggingface dataset:
Justice for Victims of Fraud Act of 2016

This bill amends the Truth in Lending Act and the Electronic Fund Transfer Act to prohibit predispute arbitration agreements with consumers (i.e., agreements to arbitrate any future disputes between parties instead of pursuing the claims in court) from being valid or enforceable in disputes related to credit card accounts or personal bank accounts that are not subject to a final judgment by a court if the credit card or bank account was not issued in response to a request or application for that account.

The bill excludes from this prohibition accounts held by a financial institution pursuant to a bona fide trust agreement.

Date: 2016-12-01
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Student Borrower Higher Education Lending Protection Act of 2016 or the Student Borrower HELP Act of 2016

This bill amends the Truth in Lending Act to provide to student borrowers of private education loans: (1) loan payment deferments without interest accruing during any period in which the student borrower is temporarily disabled, and (2) loan discharges if a student borrower dies or becomes totally or permanently disabled.

If a student borrower dies or becomes totally or permanently disabled, the student borrower, any cosigner on the loan, or the estate of either the student borrower or the cosigner shall not be obligated to make any additional loan payments.

The Internal Revenue Code is amended to exclude from an individual's gross income (which would otherwise include cancellation of debt as income) amounts based on the discharge of a student loan under this bill. An individual is therefore not subject to tax liability for the discharge of student loan debt under this bill.

Private educational lenders must disclose to borrowers the number of private education loans they offer and the number and rate of defaults on such loans.

Date: 2016-12-06
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Taxpayer Protections and Market Access for Mortgage Finance Act of 2016 

This bill amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to direct the Federal Housing Finance Agency (FHFA) to establish guidelines to require the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) to engage in significant and increasing credit risk transfer transactions.

A "risk transfer transaction" provides for: (1) the sale, disposition, retention, or transfer within the private sector of credit risk on any single-family residential mortgage loan or a pool of such loans that back securities on which the enterprise guarantees the timely payment of principal and interest; or (2) the retention by the private sector of any such credit risk in connection with the sale of any such loan or security to an enterprise.

The enterprises may set and publish guarantee fees commensurate with the reduced credit risk resulting from any new risk transfer transactions. The bill exempts certain swaps entered into for the purpose of transferring or sharing credit risk in connection with a risk transfer transaction from the Commodity Exchange Act.

The FHFA must also require Fannie Mae and Freddie Mac to: (1) establish a five-year pilot program under which each enterprise must annually engage in at least one front-end (before or simultaneous with the acquisition of the loan or security by the enterprise) risk sharing transaction for which both bank and non-bank mortgage originators having under $10 billion in assets are eligible participants, and (2) jointly establish a pilot program to increase the amount of risk that is transferred by the enterprises using private mortgage insurance.

Date: 2016-12-08
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Tax Benefit for Homeownership Clarification Act 

This bill amends the Internal Revenue Code to reduce the limitation on the mortgage interest deduction for the acquisition indebtedness of certain taxpayers. (Acquisition indebtedness is indebtedness that: (1) is incurred in acquiring, constructing, or substantially improving any qualified residence of the taxpayer; and (2) is secured by such residence. It also includes refinancing of the debt in certain situations.)

Date: 2016-12-08
Topic: Domestic Commerce (Consumer Finance)
Subject: Taxation
Moving Housing Forward Act of 2016

This bill directs the Federal Housing Finance Agency (FHFA) to require the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) to establish a pilot program that shares with the private sector the credit risk on a pool of single-family residential mortgage loans that back securities on which Fannie Mae and Freddie Mac guarantee the timely payment of principal and interest.

The bill expresses the sense of Congress that credit risk transfer transactions should be encouraged that: (1) reduce taxpayer exposure to credit risk assumed by Fannie Mae and Freddie Mac, and (2) do not expose Fannie Mae and Freddie Mac to excessive counterparty risk that persons contractually obligated to them will fail to perform their obligations.

After the pilot program is executed for three years, the FHFA must examine the economics of developing it into a continuous risk sharing program.

Date: 2016-12-08
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Authorizes a financial institution, when verifying the identity of a non-U.S. citizen or national who is seeking to open a bank account, to accept only: (1) a Social Security number, (2) a passport number and the country of issuance, (3) an alien identification card number, or (4) any combination of such items.

Prohibits a financial institution, for such verification purposes, from accepting identification documents issued by a foreign government, other than an unexpired passport.

Date: 2015-01-07
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Amends the Consumer Financial Protection Act of 2010 to direct the Consumer Financial Protection Bureau (CFPB) to: (1) disclose to a consumer all information (and their sources) held by the CFPB with respect to that consumer, including any person or other federal department or agency to which the CFPB disclosed the information; and (2) truncate in the disclosure the first five digits of the consumer's Social Security number (or similar identification number), if the consumer so requests and the CFPB has received appropriate proof of the requester's identity.

Permits consumers to request such a disclosure: (1) online, with a link prominently displayed on the CFPB website; (2) via U.S. mail; and (3) via a toll-free telephone number.

Date: 2015-01-07
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Mortgage Debt Tax Relief Act 

 Amends the Internal Revenue Code to extend through 2016 the exclusion from gross income of income attributable to the discharge of indebtedness on a principal residence.

Date: 2015-02-03
Topic: Domestic Commerce (Consumer Finance)
Subject: Taxation
Mortgage Finance Act of 2015

 Appoints the Federal Housing Finance Agency (FHFA) receiver of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) (government sponsored enterprises or GSEs) and places them into irrevocable receivership, effective on the date on which the Mortgage Finance Agency (MFA) established by this Act is operational and able to perform the guarantee function for qualified mortgage-backed securities collateralized by qualified residential mortgages.

Directs the FHFA to commence liquidation of the GSEs immediately upon their placement into receivership.

Repeals the charters of Fannie Mae and Freddie Mac.

Requires repayment by the FHFA to the General Fund of the Treasury, in repayment of certain government assistance to the GSEs, of all proceeds from their operations in receivership remaining after their outstanding obligations are fully satisfied.

Requires the FHFA as receiver to manage the combined assets of the GSEs to obtain resolutions that maximize the return for the taxpayer.

Establishes the MFA as an independent agency of the federal government to: (1) guarantee securities issued by qualified issuers and collateralized by pools of qualified residential mortgages in order to provide a dependable, transparent, and liquid market for high quality mortgages and multifamily mortgages for securitization; (2) charge and collect a guarantee fee sufficient to protect the MFA and the Treasury from the risks of guaranteeing the timely payment of principal and interest on qualified mortgage-backed securities; (3) establish and maintain a Catastrophic Fund to minimize the burden on the federal government by setting aside amounts that will be available solely to pay obligations under the MFA guarantee in the event of any future mortgage market collapse; and (4) purchase supplemental insurance coverage.

Requires the MFA to: (1) guarantee the timely payment of the principal and interest to holders of qualified mortgage-back securities, and (2) cover any shortfalls to security holders.

Requires the MFA to charge a guarantee fee with respect to timely payment of principal and interest on the qualified mortgage-backed securities.

Creates in the Treasury the Catastrophic Fund, to which shall be credited the amount of guarantee fees and any amounts earned on investments.

Requires the MFA Board of Directors to issue guidelines to determine whether supplemental coverage: (1) is being offered on commercially reasonable terms, and (2) is reasonably likely to mitigate the risk that the MFA will have to make any payment pursuant to its guarantee.

Declares that nothing in this Act may be construed as preventing the private sector from securitizing qualified residential mortgages, qualified multifamily mortgages, or other non-qualified residential single family or multifamily mortgages.

Terminates the MFA after 10 years.

Date: 2015-02-12
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Mortgage Forgiveness Tax Relief Act 

 Amends the Internal Revenue Code, as amended by the Tax Increase Prevention Act of 2014, to extend the exclusion from gross income of income attributable to the discharge of indebtedness on a principal residence that was discharged subject to an arrangement entered into and evidenced in writing before January 1, 2017.

Date: 2015-02-27
Topic: Domestic Commerce (Consumer Finance)
Subject: Taxation
Data Broker Accountability and Transparency Act of 2015

Prohibits data brokers from obtaining or causing to be disclosed personal information or any other information relating to any person by making a false, fictitious, or fraudulent statement or representation, including by providing any document that the broker knows or should know to: (1) be forged, counterfeit, lost, stolen, or fraudulently obtained; or (2) contain a false, fictitious, or fraudulent statement or representation.

Defines "data broker" as a commercial entity that collects, assembles, or maintains personal information concerning an individual who is not a customer or an employee of that entity in order to sell or provide third party access to the information. Allows the Federal Trade Commission (FTC) to exempt certain data brokers from this Act.

Requires data brokers to establish procedures to ensure the accuracy of: (1) the personal information they collect, assemble, or maintain; and (2) any other information that specifically identifies an individual, unless the information only identifies an individual's name or address.

Requires data brokers to provide individuals a cost-free means to review their personal or identifying information.

Allows individuals to dispute the accuracy of their personal information with a written request that the data broker make a correction.

Requires a data broker, with regard to disputed public record information that is available for public inspection from federal, state, or local governments, to: (1) inform the individual of the source of the information and, if reasonably available, where to direct the individual's request for correction; or (2) correct the inaccuracy in the broker's records if the individual provides proof that the public record has been corrected or that the broker was reporting the information incorrectly.

Requires a data broker, with regard to disputed non-public information of a private nature, to: (1) note the information that is disputed, (2) independently verify the information, and (3) correct the inaccuracy if the broker was reporting the information incorrectly.

Requires data brokers to provide individuals with a reasonable means of expressing a preference to exclude their information from being used, shared, or sold for marketing purposes.

Sets forth authority for the FTC and states to enforce this Act.

Date: 2015-03-04
Topic: Domestic Commerce (Consumer Finance)
Subject: Commerce
Preserving Access to Manufactured Housing Act of 2015

Amends the Truth in Lending Act to revise the exclusion from the meaning of "mortgage originator" of any employee of a retailer of manufactured homes who does not for compensation or gain take residential mortgage loan applications, for compensation or gain offer or negotiate terms of a residential mortgage loan, or advise a consumer on loan terms (including rates, fees, and other costs).

Excludes from the meaning of "mortgage originator," instead, any retailer of manufactured or modular homes or its employees unless the retailer or its employees receive compensation or gain for engaging in certain activities in excess of any compensation or gain received in a comparable cash transaction.

Revises the definition of "high cost mortgage."

Date: 2015-03-10
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
This bill prohibits increases in Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac) guarantee fees from being used in the Senate to determine the budgetary impact for evaluating budget points of order. Fannie Mae and Freddie Mac purchase mortgages and charge the fees to guarantee the payment of principal and interest. This bill prevents the fee increases from being used to offset provisions that increase the deficit in determining whether a budget point of order applies to legislation.

Date: 2015-03-17
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Protecting Consumers from Unreasonable Credit Rates Act of 2015

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

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

Revises requirements for a periodic statement for each billing cycle with respect to where the total finance charge exceeds 50 cents for a monthly or longer billing cycle, or the pro rata part of 50 cents for a billing cycle shorter than monthly. Requires inclusion of the fee and interest rate, displayed as "FAIR," instead of the total finance charge expressed as an annual percentage rate (APR).

Date: 2015-03-23
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Data Security Act of 2015

Requires individuals, corporations, or other non-government entities that access, maintain, communicate, or handle sensitive account information or nonpublic personal information to implement an information security program and to notify consumers, federal law enforcement, appropriate administrative agencies, payment card networks, and consumer reporting agencies of certain data breaches of unencrypted sensitive information likely to cause identity theft or fraudulent transactions on consumer financial accounts.

Directs entities to require their service providers by contract to implement appropriate safeguards for sensitive information.

Provides special notification procedures for: (1) third-party service providers that maintain data in electronic form on behalf of another entity, and (2) certain electronic data carriers.

Allows financial institutions to communicate with account holders regarding breaches at third-party entities with access to their account information.

Sets forth alternative compliance procedures for: (1) financial institutions and affiliates under the Gramm-Leach-Bliley Act, and (2) entities complying with certain health record privacy laws.

Requires this Act to be enforced by the Federal Trade Commission, the Comptroller of the Currency, the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration Board, the Securities and Exchange Commission, the Commodity Futures Trading Commission, the Office of Federal Housing Enterprise Oversight, or a state insurance authority depending on the type of entity handling the sensitive information.

Allows a consumer or entity that suffers financial harm from an entity's violation of this Act to bring an action in federal court to recover damages for negligent or knowing violations.

Prohibits certain state laws from being imposed for information security and breach notification purposes. Provides for the requirements of this Act to apply to certain entities in place of existing security practices and notifications standards currently enforced by the Federal Communications Commission.

Date: 2015-04-15
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Military Families Credit Reporting Act 

This bill amends the Fair Credit Reporting Act with respect to an item of adverse information about an active duty military consumer.

Declares that, if the action or inaction that gave rise to the item occurred while the consumer was an active duty military consumer, then: (1) the consumer may provide appropriate proof, including official orders, to a consumer reporting agency that the consumer was an active duty military consumer at the time the action or inaction occurred; and (2) any consumer report made by the agency including that item of information shall clearly and conspicuously disclose that the consumer was an active duty military consumer when the action or inaction that gave rise to the item occurred.

Requires the Consumer Financial Protection Bureau to prepare and make publicly available a model form that allows a consumer to: (1) notify a consumer reporting agency that the consumer is an active duty military consumer, and (2) provide the consumer's contact information for communicating with the consumer while he or she is an active duty military consumer.

Requires a consumer reporting agency to notify promptly an active duty military consumer whenever it receives an item of adverse information about him or her, along with a description of the item and the method by which the consumer can dispute the validity of the item.

Requires an agency also to use any separate contact information an active duty military consumer has given it for all communications while the individual is an active duty military consumer.

Declares the sense of Congress that any person making use of a consumer report containing an item of adverse information that occurred while the consumer was an active duty military consumer should take that fact into account when evaluating the consumer's creditworthiness.

Requires a consumer reporting agency, with respect to an item of information under dispute by an active duty military consumer, to include in the consumer's file that he or she was an active duty military consumer at the time the action or inaction that gave rise to the disputed item occurred, and indicate this fact in each consumer report that includes the disputed item.

Date: 2015-05-07
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
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.

Date: 2015-05-18
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
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.

Date: 2015-05-21
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
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.

Date: 2015-06-16
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
Amends the Internal Revenue Code to make permanent the tax deduction for mortgage insurance premiums.

Date: 2015-06-23
Topic: Domestic Commerce (Consumer Finance)
Subject: Taxation
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.

Date: 2015-07-07
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
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.

Date: 2015-07-23
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
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.

Date: 2015-08-05
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
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.

Date: 2015-08-05
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
(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.

Date: 2015-09-15
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
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.

Date: 2015-09-16
Topic: Domestic Commerce (Consumer Finance)
Subject: Housing and community development
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.

Date: 2015-11-04
Topic: Domestic Commerce (Consumer Finance)
Subject: Science, technology, communications
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.

Date: 2015-11-05
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
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.

Date: 2015-12-03
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
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.

Date: 2016-02-25
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
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.

Date: 2016-03-10
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
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.

Date: 2016-04-07
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
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.

Date: 2016-05-26
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
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.

Date: 2016-07-07
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
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.

Date: 2016-07-13
Topic: Domestic Commerce (Consumer Finance)
Subject: Taxation
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.

Date: 2016-07-14
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Empowering States' Rights To Protect Consumers Act of 2016

 This bill amends the Truth In Lending Act to limit the annual percentage rate applicable to any consumer credit transaction (other than a residential mortgage transaction), including any associated fees, to the maximum rate permitted by the laws of the state in which the consumer resides.

Date: 2016-09-14
Topic: Domestic Commerce (Consumer Finance)
Subject: Finance and financial sector
Animal Fighting Prohibition Enforcement Act of 2007 - Amends the federal criminal code to impose a fine and/or prison term of up to three years for violations of the Animal Welfare Act relating to: (1) sponsoring or exhibiting an animal in an animal fighting venture; (2) buying, selling, transporting, delivering, or receiving for purposes of transportation, in interstate or foreign commerce, any dog or other animal for participation in an animal fighting venture; and (3) using the mails or other instrumentality of interstate commerce to promote or further an animal fighting venture. Amends the Animal Welfare Act to prohibit knowingly selling, buying, transporting, or delivering, in interstate or foreign commerce, a knife, a gaffe, or any other sharp instrument for attachment to the leg of a bird for use in an animal fighting venture.

Date: 2007-01-04
Topic: Domestic Commerce (Sports Regulation)
Subject: Crime and law enforcement
Comprehensive Awareness of Problem Gambling Act of 2007 - Requires the Secretary of Health and Human Services to carry out a national campaign to increase knowledge and raise awareness of problem gambling.Requires the Secretary to: (1) administer and coordinate the voluntary donation of resources to assist in implementing new programs and augmenting existing national campaigns to provide national strategies for dissemination of information intended to address problem gambling; (2) encourage media outlets to provide information aimed at preventing problem gambling; and (3) target radio and television audiences of sporting events and gambling.Requires the President to: (1) establish and implement a national program of research on problem gambling; (2) appoint an advisory commission to coordinate federal research; and (3) consider the National Gambling Impact Study Commission's recommendations.Authorizes the Secretary to make grants to states, local governments, and nonprofit agencies to provide comprehensive services with respect to treatment and prevention of, and education about, problem gambling.Directs the President, acting through the Administrator of the Substance Abuse and Mental Health Services Administration, to develop a Treatment Improvement Protocol for problem gamblingExpresses the sense of Congress that every state should contribute a percentage of its revenue from gambling towards prevention and treatment of, and services and education about, problem gambling.

Date: 2007-02-16
Topic: Domestic Commerce (Sports Regulation)
Subject: Sports and recreation
Motorsports Fairness and Permanency Act of 2007 - Amends the Internal Revenue Code to make permanent the classification, for depreciation purposes, of any motorsports entertainment complex as seven year property.

Date: 2007-03-01
Topic: Domestic Commerce (Sports Regulation)
Subject: Taxation
Internet Gambling Regulation and Enforcement Act of 2007 - Amends federal law governing monetary transactions to establish an Internet Gambling Licensing Program administered and enforced by the Director of the Financial Crimes Enforcement Network (Director). Prescribes requirements for the licensing of Internet betting or wagering. Provides that activities involving investment banking, payment and transaction processing, and financial transactions are shielded from liability if they are conducted in compliance with this Act and specified law.Authorizes states, Indian tribes and sporting leagues to prohibit internet gambling licenses.Subjects violators of this Act to criminal penalties.Instructs the Director to report annually to Congress on the licensing and regulation of Internet gambling operators.

Date: 2007-04-26
Topic: Domestic Commerce (Sports Regulation)
Subject: Finance and financial sector