Fair Lending for All Act
Take action
Record your position on this measure.
Create an account to record your position, submit testimony, or contact your legislator.
Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Overview
The Fair Lending for All Act expands protections against credit discrimination under the Equal Credit Opportunity Act. It adds sexual orientation, gender identity, and location based on ZIP code or census tract as protected characteristics, alongside existing categories like race and income. The bill establishes criminal penalties for violations and creates an Office of Fair Lending Testing within the Consumer Financial Protection Bureau to assess compliance with these regulations. It also requires the Bureau to review loan applications for compliance and includes changes to the definitions used in the Equal Credit Opportunity Act.
Key provisions
- Adds sexual orientation, gender identity, and location (ZIP code/census tract) as protected classes under the Equal Credit Opportunity Act.
- Establishes criminal penalties for violations of the Equal Credit Opportunity Act.
- Creates an Office of Fair Lending Testing within the Consumer Financial Protection Bureau.
- Requires the Bureau to review loan applications for compliance with consumer financial laws.
- Amends the Equal Credit Opportunity Act to broaden the definition of ‘aggrieved person’.
- Includes criminal penalties for executives and directors of entities found to be engaging in discriminatory practices.
- Mandates increased data collection under the Home Mortgage Disclosure Act, including ZIP code and census tract.
- Requires the Bureau to take enforcement action against loan applications or processes that violate fair lending laws.
Who is affected
Bill text
Read the latest version inline or switch to a previous version.
Text extraction is in progress. View the official source.
Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
Cosponsor
Arguments
Reasons offered for and against this legislation.
Arguments in favor
No arguments in favor have been submitted.
Submit yoursArguments opposed
No arguments opposed have been submitted.
Submit yours