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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (5)

Short Titles

Short Titles - House of Representatives

Short Titles as Reported to House

EQUAL Act of 2018
Ensuring Quality Unbiased Access to Loans Act of 2018

Short Titles as Introduced

EQUAL Act of 2018
Ensuring Quality Unbiased Access to Loans Act of 2018

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To nullify certain guidance on deposit advance products, to require the Federal banking agencies to establish standards for short-term, small-dollar loans made by insured depository institutions, to exempt insured depository institutions and insured credit unions from the payday lending rule of the Bureau of Consumer Financial Protection, and for other purposes.


Actions Overview (2)

Date
08/03/2018Reported by the Committee on Financial Services. H. Rept. 115-890.
01/19/2018Introduced in House

All Actions (7)

Date
08/03/2018Placed on the Union Calendar, Calendar No. 688.
Action By: House of Representatives
08/03/2018Reported by the Committee on Financial Services. H. Rept. 115-890.
03/21/2018Ordered to be Reported by the Yeas and Nays: 34 - 26.
03/21/2018Committee Consideration and Mark-up Session Held.
01/19/2018Referred to the House Committee on Financial Services.
Action By: House of Representatives
01/19/2018Introduced in House
Action By: House of Representatives
07/12/2017Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Introduction and Referral.
Action By: House Financial Services Subcommittee on Financial Institutions and Consumer Credit

Cosponsors (1)

* = Original cosponsor
CosponsorDate Cosponsored
Rep. Barr, Andy [R-KY-6] 06/08/2018

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Financial Services01/19/2018 Referred to
03/21/2018 Markup by
08/03/2018 Reported by H. Rept. 115-890
House Financial Services Subcommittee on Financial Institutions and Consumer Credit07/12/2017 Hearings by

No related bill information was received for H.R.4861.


Subjects (1)


Latest Summary (2)

There are 2 summaries for H.R.4861. View summaries

Shown Here:
Reported to House without amendment (08/03/2018)

Ensuring Quality Unbiased Access to Loans Act of 2018 or the EQUAL Act of 2018

This bill nullifies the Federal Deposit Insurance Corporation final guidance titled "Guidance on Supervisory Concerns and Expectations Regarding Deposit Advance Products," published November 26, 2013. (The guidance relates to the safety and soundness of insured depository intuitions offering short-term, small-dollar loans.) Federal banking agencies must issue regulations regarding such loans offered by insured depository institutions.

The bill also exempts certain loans made by a depository institution or a credit union from the Consumer Financial Protection Bureau rule titled "Payday, Vehicle Title, and Certain High-Cost Installment Loans," published on November 17, 2017.