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S 871 114th Congress Senate Finance and Financial Sector Administrative law and regulatory procedures Administrative remedies Banking and financial institutions regulation Consumer Financial Protection Bureau Consumer credit Financial services and investments Housing finance and home ownership Rural conditions and development

HELP Rural Communities Act of 2015

Introduced: March 26, 2015 Introduced by: McConnell, Mitch Republican · Kentucky See on congress.gov
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This bill died when the 114th Congress ended
It never became law before the 114th Congress (2015–2016) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 26, 2015
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S2048-2049)
Mar 26, 2015
Introduced in Senate
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 Plain-English summary Congressional Research Service

Helping Expand Lending Practices in Rural Communities Act of 2015 or the HELP Rural Communities Act of 2015

Directs the Consumer Financial Protection Bureau (CFPB) to establish an application process under which a person who lives or does business in a state may apply to have an area in the state identified as a rural area if it has not yet been so designated by the CFPB for purposes of federal consumer financial law.

Prescribes criteria for the CFPB to consider when evaluating the application.

States that if, at any time before submission of an application, the area subject to review has been designated as nonrural by certain federal agencies, the CFPB is not required to consider that designation in its evaluation.

Requires the CFPB to: (1) grant or deny the application within 90 days after the public comment period ends; and (2) publish the grant or denial in the Federal Register, including an explanation of the factors upon which the CFPB relied in making its determination.

Sunsets this Act two years after its enactment.

Amends The Truth in Lending Act with respect to CFPB authority to treat a balloon loan as "a qualified mortgage" to mean a balloon loan extended by any creditor operating in rural or underserved areas even if it does not operate predominantly in them. Exempts such a creditor from the requirements for escrow or impound accounts governing certain consumer credit transactions secured by a first lien on the consumer's principal dwelling.

What's happening now March 26, 2015

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S2048-2049)

 Related & companion bills 5
  • HR 1259 Related bill Helping Expand Lending Practices in Rural Communities Act
  • HR 1389 Related bill American Jobs and Community Revitalization Act of 2015
  • S 1484 Related bill Financial Regulatory Improvement Act of 2015
  • S 1910 Related bill Financial Services and General Government Appropriations Act, 2016
  • S 2132 Related bill An Act Making Appropriations to Stop Regulatory Excess and for Other Purposes, 2016
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 4
All 4 Republican 4
R
Fischer, Deb
Nebraska · Dec 3, 2015
 R
Rounds, Mike
South Dakota · Apr 29, 2015
 R
Capito, Shelley Moore
West Virginia · Mar 26, 2015
 R
Paul, Rand
Kentucky · Mar 26, 2015
Cite this page click to expand
APA
U.S. Congress. (2026). S. 871: HELP Rural Communities Act of 2015. 114th Congress. Open America. https://openamerica.io/bill/114-S-871/
MLA
"S. 871: HELP Rural Communities Act of 2015." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-S-871/.
Bluebook (legal)
S. 871, 114th Cong. (2026), https://openamerica.io/bill/114-S-871/.
Markdown link
[S. 871: HELP Rural Communities Act of 2015](https://openamerica.io/bill/114-S-871/)
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