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S 911 111th Congress Senate Finance and Financial Sector Banking and financial institutions regulation Consumer credit Housing finance and home ownership

Promoting Mortgage Responsibility Act

Introduced: April 28, 2009 Introduced by: Merkley, Jeff Democratic · Oregon See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 28, 2009
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Apr 28, 2009
Sponsor introductory remarks on measure. (CR S4812-4813)
Apr 28, 2009
Introduced in Senate
 Plain-English summary Congressional Research Service

Promoting Mortgage Responsibility Act - Amends the Truth in Lending Act to prohibit prepayment fees or penalties under any consumer credit transaction secured by the consumer's owner-occupied principal dwelling.

Makes any prepayment penalty in violation of this prohibition unenforceable.

What's happening now April 28, 2009

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Committees of jurisdiction 1