119th Congress Finance and Financial Sector
H.R. 1658: SAFE Lending Act of 2025
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill creates additional consumer protections applicable to certain credit and banking transactions, including matters concerning remotely created checks, electronic fund transfers, registration of small-dollar lenders, overdraft fees, and the collection of personal information.
Under the bill, remotely created checks may only be issued by a person specifically designated in writing by a consumer. The consumer must provide the designation to the consumer's depository institution. (A remotely created check is a check not issued by the bank and not signed by the account owner.)
A voluntary agreement to repay a small-dollar consumer credit transaction by an electronic fund transfer is subject to certain protections, including the right of the consumer to stop payment.
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Small-dollar consumer credit providers must register with the Consumer Financial Protection Bureau. Any small-dollar consumer credit transaction is subject to the laws of the state in which the consumer resides.
The bill also prohibits overdraft fees on prepaid accounts.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Pramila Jayapal D-WAOriginal
- Janice Schakowsky D-ILOriginal
- Jesús García D-IL
Who scored on this bill
No member has earned points from it yet.
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History
- Introduced in the House by Suzanne Bonamici.
Show the full action history (2 actions)
- Introduced in House
- Referred to the House Committee on Financial Services.