H.R. 514 · 111th Congress
Responsible Subprime Lending Act
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
GalleglySponsorNo cosponsors.
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…
What it does: CRS summary · Introduced in House · Jan 14, 2009
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Responsible Subprime Lending Act
Latest action (Jan 14, 2009): Referred to the House Committee on Financial Services.
Policy area: Housing and Community Development · Origin: House · Introduced: Jan 14, 2009
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.