S. 780 · 119th Congress
SAFE Lending Act of 2025
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MerkleySponsor11 cosponsors · 10 D, 1 I
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Baldwin
RB
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Blumenthal
CB
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Booker
RD
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Durbin
EM
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Markey
BS
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Sanders
TS
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Smith
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Van Hollen
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Wyden
MH
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Heinrich
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Luján9 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Stopping Abuse and Fraud in Electronic Lending Act of 2025 or the SAFE Lending Act of 2025
What it does: CRS summary · Introduced in Senate · Feb 27, 2025
Stopping Abuse and Fraud in Electronic Lending Act of 2025 or the SAFE Lending Act of 2025
This bill creates additional consumer protections applicable to certain credit and banking transactions, including matters concerning remotely created checks, electronic fund transfers, registration of small-dollar lenders, overdraft fees, and the collection of personal information.
Under the bill, remotely created checks may only be issued by a person specifically designated in writing by a consumer. The consumer must provide the designation to the consumer's depository institution. (A remotely created check is a check not issued by the bank and not signed by the account owner.)
A voluntary agreement to repay a small-dollar consumer credit transaction by an electronic fund transfer is subject to certain protections, including the right of the consumer to stop payment.
Small-dollar consumer credit providers must register with the Consumer Financial Protection Bureau. Any small-dollar consumer credit transaction is subject to the laws of the state in which the consumer resides.
The bill also prohibits overdraft fees on prepaid accounts.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: SAFE Lending Act of 2025
Also known as: Stopping Abuse and Fraud in Electronic Lending Act of 2025
Latest action (Feb 27, 2025): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Feb 27, 2025
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.