H.R.1259 - Helping Expand Lending Practices in Rural Communities Act114th Congress (2015-2016)
|Sponsor:||Rep. Barr, Andy [R-KY-6] (Introduced 03/04/2015)|
|Committees:||House - Financial Services | Senate - Banking, Housing, and Urban Affairs|
|Committee Reports:||H. Rept. 114-60|
|Latest Action:||Senate - 04/14/2015 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
|Roll Call Votes:||There has been 1 roll call vote|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
Summary: H.R.1259 — 114th Congress (2015-2016)All Information (Except Text)
Passed House without amendment (04/13/2015)
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
Helping Expand Lending Practices in Rural Communities Act
(Sec. 2) 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.
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.