HR 4861 · 115th Congress · Finance and Financial Sector

EQUAL Act of 2018

Introduced 2018-01-19· Sponsored by Rep. Hollingsworth, Trey [R-IN-9]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Placed on the Union Calendar, Calendar No. 688.(2018-08-03)

Plain Language Summary

[AI summary unavailable — showing source text] 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.…

Summarized by Claude AI · Non-partisan · For informational purposes only

CBO Cost Estimate

Congressional Budget Office

H.R. 4861, EQUAL Act of 2018

Jun 20, 2018

As ordered reported by the House Committee on Financial Services on March 21, 2018

Full CBO report ↗

Official non-partisan budget analysis by the Congressional Budget Office

Cosponsors (1)

1 Republican
Rep. Barr, Andy [R-KY-6]KY