EQUAL Act of 2018
USA115th CongressHR-4861| House
| Updated: 8/3/2018
Trey Hollingsworth
Republican Representative
Indiana
Cosponsors (1)
Consumer Protection and Financial Institutions Subcommittee, Financial Services Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
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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Timeline
Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Introduction and Referral.
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported by the Yeas and Nays: 34 - 26.
Placed on the Union Calendar, Calendar No. 688.
Reported by the Committee on Financial Services. H. Rept. 115-890.
Finance and Financial Sector
Administrative law and regulatory proceduresBank accounts, deposits, capitalBanking and financial institutions regulationConsumer creditCredit and credit marketsFederal Deposit Insurance Corporation (FDIC)
EQUAL Act of 2018
USA115th CongressHR-4861| House
| Updated: 8/3/2018
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.
Suggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Introduction and Referral.
Introduced in House
Referred to the House Committee on Financial Services.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported by the Yeas and Nays: 34 - 26.
Placed on the Union Calendar, Calendar No. 688.
Reported by the Committee on Financial Services. H. Rept. 115-890.
Trey Hollingsworth
Republican Representative
Indiana
Cosponsors (1)
Consumer Protection and Financial Institutions Subcommittee, Financial Services Committee
Finance and Financial Sector
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Administrative law and regulatory proceduresBank accounts, deposits, capitalBanking and financial institutions regulationConsumer creditCredit and credit marketsFederal Deposit Insurance Corporation (FDIC)