Bill SponsorBILLSPONSOR
Bill Sponsor
Politicians
Bills
House Bill 4861
115th Congress(2017-2018)
EQUAL Act of 2018
Introduced
Introduced
Introduced in House on Jan 19, 2018
Overview
Text
Introduced
Jan 19, 2018
Latest Action
Aug 3, 2018
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
4861
Congress
115
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
Sponsorship by Party
Republican
Trey Hollingsworth
Indiana
Republican
Andy Barr
Kentucky
House Votes (0)
Senate Votes (0)
No House votes have been held for this bill.
Summary

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.

Text (2)
Reported in House
August 3, 2018
Introduced in House
January 19, 2018
Actions (7)
08/03/2018
Placed on the Union Calendar, Calendar No. 688.
08/03/2018
Reported by the Committee on Financial Services. H. Rept. 115-890.
03/21/2018
Ordered to be Reported by the Yeas and Nays: 34 - 26.
03/21/2018
Committee Consideration and Mark-up Session Held.
01/19/2018
Referred to the House Committee on Financial Services.
01/19/2018
Introduced in House
07/12/2017
Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Introduction and Referral.
Public Record
Record Updated
Jan 11, 2023 1:38:58 PM
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