SAFE Lending Act of 2022
Sponsored By: Representative Bonamici, Suzanne [D-OR-1]
Unknown
Summary
Stopping Abuse and Fraud in Electronic Lending Act of 2022 or the SAFE Lending Act of 2022 This bill revises requirements related to consumer financial protection and small-dollar lending, including matters concerning remotely created checks, electronic fund transfers, registration of small-dollar lenders, overdraft fees, and the collection of personal information. Under the bill, remotely created checks may only be issued by a person specifically designated in writing by a consumer and provided to the consumer's depository institution. (A remotely created check is a check not issued by the bank and not signed by the account owner.) A voluntary agreement to repay a small-dollar consumer credit transaction by an electronic fund transfer is subject to certain protections, including the right of the consumer to stop payment. Small-dollar consumer credit providers must register with the Consumer Financial Protection Bureau. Any small-dollar consumer credit transaction is subject to the laws of the state in which the consumer resides. The bill also prohibits overdraft fees on prepaid accounts.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & CoSponsors
Sponsor
Bonamici, Suzanne [D-OR-1]
OR • D
Cosponsors
Rep. Jayapal, Pramila [D-WA-7]
WA • D
Sponsored 11/16/2022
Rep. Blumenauer, Earl [D-OR-3]
OR • D
Sponsored 11/16/2022
Del. Norton, Eleanor Holmes [D-DC-At Large]
DC • D
Sponsored 11/16/2022
Rep. Porter, Katie [D-CA-47]
CA • D
Sponsored 11/16/2022
Rep. García, Jesús G. "Chuy" [D-IL-4]
IL • D
Sponsored 11/16/2022
Rep. Garcia, Sylvia R. [D-TX-29]
TX • D
Sponsored 11/16/2022
Rep. Speier, Jackie [D-CA-14]
CA • D
Sponsored 11/16/2022
Rep. Jackson Lee, Sheila [D-TX-18]
TX • D
Sponsored 11/16/2022
Rep. Grijalva, Raúl M. [D-AZ-7]
AZ • D
Sponsored 11/22/2022
Rep. Schakowsky, Janice D. [D-IL-9]
IL • D
Sponsored 12/6/2022
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov