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115-hr-4861115th Congress

EQUAL Act of 2018

Sponsored By: Representative Hollingsworth, Trey [R-IN-9]

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Summary

Ensuring Quality Unbiased Access to Loans Act of 2018 or the EQUAL Act of 2018 This bill nullifies the Federal Deposit Insurance Corporation final guidance titled "Guidance on Supervisory Concerns and Expectations Regarding Deposit Advance Products," published November 26, 2013. (The guidance relates to the safety and soundness of insured depository intuitions offering short-term, small-dollar loans.) Federal banking agencies must issue regulations regarding such loans offered by insured depository institutions. The bill also exempts certain loans made by a depository institution or a credit union from the Consumer Financial Protection Bureau rule titled "Payday, Vehicle Title, and Certain High-Cost Installment Loans," published on November 17, 2017.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Hollingsworth, Trey [R-IN-9]

IN • R

Cosponsors

  • Rep. Barr, Andy [R-KY-6]

    KY • R

    Sponsored 6/8/2018

Roll Call Votes

No roll call votes available for this bill.

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