A bill to amend the Truth in Lending Act to limit overdraft fees and establish fair and transparent practices related to the marketing and provision of overdraft coverage programs at depository institutions, and for other purposes.
To amend the Consumer Financial Protection Act of 2010 to extend certain supervisory authority of the Bureau of Consumer Financial Protection to include assessing compliance with the Military Lending Act.
To amend the Internal Revenue Code of 1986 to exclude from gross income interest received on certain loans secured by agricultural real property.
To establish student loan borrowers' rights to basic consumer protections, reasonable and flexible repayment options, access to earned credentials, and effective loan cancellation in exchange for public service, and for other purposes.
The House yesterday passed a $19.1 billion disaster relief package, finally sending legislation to the White House that had been repeatedly blocked by conservatives over the Memorial Day recess, The Hill reported. The legislation was approved in a 354-58 vote. The House sought to move the bill three times by unanimous consent over the last week, but the vote was blocked by a different conservative Republican each time. GOP Reps. Chip Roy (Texas), Thomas Massie (Ky.) and John Rose (Tenn.) each blocked the unanimous consent vote, arguing that there should be a full debate on the measure. Roy, a former staffer to Sen. Ted Cruz (R-Texas), argued that the spending should be offset by other spending cuts and said he was concerned about adding to the national debt. The measure includes funding for communities hit by various natural disasters across the country. It also includes $900 million in aid to Puerto Rico, funding that was initially opposed by President Trump as being too much. The measure passed the Senate in an 85-8 vote in late May.
To exempt from the calculation of monthly income certain benefits paid by the Department of Veterans Affairs and the Department of Defense.
To view the House Judicicary Committee report submitted with H.R. 2938 referencing ABI's support for the legislation, please click here.