A joint resolution providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Bureau of Consumer Financial Protection relating to the withdrawal of the rule relating to "Truth in lending (Regulation Z); Consumer Protections for Home Sales Financed Under Contracts for Deed".
Sponsored By: Senator Charles Schumer
Introduced
Summary
Preserving Truth in Lending protections for home sales financed under contracts for deed. This joint resolution would nullify the CFPB rule that withdraws Regulation Z consumer protections for those home sales and keep the protections in place.
Your PRIA Score
Personalized for You
How does this bill affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this bill and every other piece of legislation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Keep Regulation Z protections for buyers
If enacted, this joint resolution would disapprove a CFPB rule that withdrew Regulation Z protections for home sales under contracts for deed. It would render that CFPB withdrawal have no force or effect. You would keep the existing Truth in Lending (Regulation Z) disclosures and consumer protections when buying a home under a contract for deed. This mainly affects buyers and also affects sellers and lenders who use these contracts.
Sponsors & CoSponsors
Sponsor
Charles Schumer
NY • D
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
View on Congress.govTake It Personal
Get Your Personalized Policy View
Start a Free Government Policy Watch to see how policy affects your household, then upgrade to PRIA Full Coverage for year-round monitoring.
Already have an account? Sign in