What is the current status of S 780?

S 780 is currently: Passed House.

S 780 was sponsored by Jeff Merkley (D), Sen.

Strengthening Consumer Protection in Lending

IntroducedN/A

Passed House7 months ago

Intro

Senate

House

Pres

Passed/agreed to in House

Why This Matters

This bill improves protections for consumers in lending by regulating electronic checks and small-dollar loans.

If you take out small loans or use electronic payments, this bill helps protect your rights and control over your finances.

Who this affects

Consumers using small loans · Consumers using electronic payment methods

What changes is this bill making?

1The bill aims to prevent unauthorized checks from being created without a consumer's consent.
2Consumers will have more control over their bank accounts by designating who can issue checks on their behalf.
3Small-dollar lenders must register and follow new rules to ensure transparency in lending practices.
4The bill provides protections for consumers who agree to repay small loans through electronic transfers.

Read the detailed summary

Sets forth the rule for consideration of the bill (H.R. 1834) to advance policy priorities that will break the gridlock.