summary
Introduced
01/03/2019
01/03/2019
In Committee
01/03/2019
01/03/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
To establish an Office of Fair Lending Testing to test for compliance with the Equal Credit Opportunity Act, to strengthen the Equal Credit Opportunity Act and to provide for criminal penalties for violating such Act, and for other purposes. This bill modifies provisions related to prohibited credit discrimination. The bill adds sexual orientation, gender identity, and an applicant's location based on zip code or census tract as classes protected against discrimination with respect to credit transactions. (Currently, discrimination is prohibited on the basis of race, color, religion, national origin, sex, marital status, age, or because an applicant receives public assistance.) The bill establishes criminal penalties for violations of prohibited credit discrimination. The Consumer Financial Protection Bureau is required to review loan applications for compliance with specified consumer laws and to establish an Office of Fair Lending Testing.
AI Summary
This bill, the Fair Lending for All Act, aims to strengthen the Equal Credit Opportunity Act (ECOA) and establish an Office of Fair Lending Testing within the Consumer Financial Protection Bureau (CFPB). The bill adds sexual orientation, gender identity, and an applicant's location based on zip code or census tract as classes protected against discrimination in credit transactions. It also establishes criminal penalties for violations of the ECOA, including fines and imprisonment. The CFPB is required to review loan applications for compliance with consumer laws and establish the Office of Fair Lending Testing to conduct compliance testing. Additionally, the bill expands the data collection requirements under the Home Mortgage Disclosure Act to include more detailed information about applicants and borrowers.
Committee Categories
Business and Industry
Sponsors (4)
Last Action
Referred to the House Committee on Financial Services. (on 01/03/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/house-bill/166/all-info |
| BillText | https://www.congress.gov/116/bills/hr166/BILLS-116hr166ih.pdf |
| Bill | https://www.congress.gov/116/bills/hr166/BILLS-116hr166ih.pdf.pdf |
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