HR 3310 · 113th Congress · Finance and Financial Sector
ASSURE Act of 2013
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the Subcommittee on Disability Assistance and Memorial Affairs.(2014-02-03)
Plain Language Summary
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Annuity Safety and Security Under Reasonable Enforcement Act of 2013 or the ASSURE Act of 2013 - Amends the Truth in Lending Act to direct the Bureau of Consumer Financial Protection (CFPB) to issue regulations requiring any payment to a recipient of a federal or military pension (a benefit recipient) that diminishes the benefit recipient's ability to control payments from such pension to be treated as an extension of credit. Requires financial institutions to include the terms of such credit in consumer information disclosures. Prohibits the annual percentage rate of interest on such arrangements from exceeding the federal funds rate plus 6% or an equivalent aggregate amount of cash and property. Specifies conditions under which payment of consideration in exchange for the retired pay of enlisted military members is prohibited from assignment under veterans' benefits laws. Prohibits individuals from making allotments or assignments from annuities under the Civil Service Retirement System (CSRS) or the Federal Employees' Retirement System (FERS), including any agreement under which another person acquires for consideration the right to receive payment from such annuities as well as…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (20)
20 Democrats