H.R. 7301 – Emergency Housing Protections and Relief Act of 2020 (Rep. Waters – Financial Services) The bill takes on financial challenges of those out of work due to Covid 19 and the economic downtown by helping short and medium term inability to pay rent and utility costs. The primary provision is $100,000,000,000 for an additional amount for grants under the Emergency Solutions Grants program under subtitle B of title IV of the McKinney-Vento Homeless Assistance to remain available until expended , to be used for providing short- or medium-term assistance with rent and rent-related costs (including tenant-paid utility costs, utility- and rent-arrears, fees charged for those arrears, and security and utility deposits) in accordance with the law.
Passed/agreed to in House: On passage Passed by the Yeas and Nays: 232 – 180 (Roll no. 128).
H.R. 5332 – Protecting Your Credit Score Act of 2019 (Rep. Gottheimer – Financial Services)
This bill revises provisions related to consumer credit reports and credit reporting agencies.
Credit reporting agencies are directed to create a central online portal that allows consumers to (1) access free credit reports and credit scores, (2) dispute errors, and (3) place or lift security freezes.
Consumers will receive a free credit score when requesting a free annual credit report.
The bill establishes a public registry for credit reporting agencies. The bill also provides the Consumer Financial Protection Bureau (CFPB) with statutory authority for supervising credit reporting agencies.
A credit reporting ombudsperson is established at the CFPB, whose responsibilities include resolving persistent errors by credit reporting agencies.
A court may award injunctive relief to compel a credit reporting agency to comply with credit report protections.
Credit reporting agencies must provide available information to consumers regarding the purpose behind the procurement of a credit report.
The bill gives the CFPB the authority to establish data security requirements for credit reporting agencies.
The Government Accountability Office must report on the feasibility of credit reporting agencies replacing Social Security numbers as identifiers with another type of federal identification.
Passed/agreed to in House: On passage Passed by the Yeas and Nays: 234 – 179 (Roll no. 126).
H.J.Res. 90 – Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Office of the Comptroller of the Currency relating to “Community Reinvestment Act Regulations” (Rep. Waters – Financial Services)
This joint resolution nullifies a rule published on June 5, 2020, by the Office of the Comptroller of the Currency within the Department of the Treasury.
The rule generally revises the office’s implementation of the Community Reinvestment Act (CRA), which requires banks to serve the credit needs of low- and moderate-income communities. Under the CRA, a bank receives credit, which influences the bank’s performance rating, for conducting specified activities related to this requirement in designated assessment areas.
Among other things, the rule revises qualifying CRA activities, sets forth new procedures for determining if an activity qualifies under the CRA, and expands designated assessment areas.
Passed/agreed to in House: On passage Passed by the Yeas and Nays: 230 – 179 (Roll no. 129).
H.R. 2 – Moving Forward Act (Rep. DeFazio – Transportation and Infrastructure/Education and Labor/Financial Services/Energy and Commerce/Ways and Means/Oversight and Reform/Natural Resources) (Subject to a Rule)
This bill addresses provisions related to federal-aid highway, transit, highway safety, motor carrier, research, hazardous materials, and rail programs of the Department of Transportation (DOT).
Among other provisions, the bill