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Bill > HR166


US HR166

Fair Lending for All Act


summary

Introduced
01/04/2021
In Committee
05/12/2021
Crossed Over
Passed
Dead
01/03/2023

Introduced Session

117th Congress

Bill Summary

A BILL 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. VerDate Sep 11 2014 00:40 Jun 08, 2022 Jkt 029200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6652 E:\BILLS\H166.RH H166

AI Summary

This bill, the Fair Lending for All Act, establishes an Office of Fair Lending Testing within the Bureau of Consumer Financial Protection to conduct compliance testing of creditors under the Equal Credit Opportunity Act (ECOA). The bill strengthens the ECOA by expanding the prohibited bases of discrimination, allowing organizations that have diverted resources to address discrimination to seek relief, and imposing criminal penalties for knowing and willful violations. The bill also requires the Bureau to review loan applications and processes to ensure compliance with the ECOA and other federal consumer financial laws.

Committee Categories

Business and Industry

Sponsors (1)

Last Action

Placed on the Union Calendar, Calendar No. 263. (on 06/07/2022)

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