Summary: Empowering States' Rights To Protect Consumers Act of 2014 - Amends the Truth In Lending Act to limit the annual percentage rate (APR) applicable to any consumer credit transaction (other than a residential mortgage transaction), including any associated fees, to the maximum rate permitted by the laws of the state in which the consumer resides.

empowering states rights protect consumers act amends truth lending act limit annual percentage rate apr applicable consumer credit transaction residential mortgage transaction including associated fees maximum rate permitted laws state consumer resides


Summary:
Stabilizing FHA Loan Limit Calculations Act of 2014 - Amends the National Housing Act, with respect to the mortgage insurance eligibility of a 1-family or a 2-, 3-, or 4-family residence, to revise the formula for determining the median house price in the larger formula for determining the principal obligation of a mortgage.

Declares that, for 2014 and each succeeding year, the median house price for any size residence for an area shall be considered to be the greatest median house price for such size residence for that area used by the Secretary of Housing and Urban Development (HUD) to determine the dollar amount limitation on the principal obligation for 2013, or for any succeeding year before the assignment of the Federal Housing Administration (FHA) case number for the mortgage involved.

Allows the Secretary, however, to increase the maximum dollar limitation on the principal obligation of an eligible mortgage otherwise in effect for a particular size or sizes of residence in any geographic area smaller than an area for which dollar amount limitations are ordinarily determined, if a higher maximum dollar amount limitation is warranted by higher median home prices in that smaller area.

stabilizing fha loan limit calculations act amends national housing act respect mortgage insurance eligibility family family residence revise formula determining median house price larger formula determining principal obligation mortgage declares succeeding year median house price size residence area shall considered greatest median house price size residence area secretary housing_and_urban_development hud determine dollar limitation principal obligation succeeding year assignment federal_housing_administration fha case number mortgage involved allows secretary increase maximum dollar limitation principal obligation eligible mortgage effect particular size sizes residence geographic area smaller area dollar limitations ordinarily determined higher maximum dollar limitation warranted higher median home prices smaller area


Summary:
Stop Foreclosures Due to Congressional Dysfunction Act of 2014 - Requires the Director of the Federal Housing Finance Agency (FHFA) to prohibit mortgagees of certain eligible mortgages from initiating a foreclosure during a specified six-month moratorium with respect to any of those mortgages owned, held, securitized, or guaranteed by the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac). Tolls the term of such mortgages during the moratorium, and requires deferral of any principal and interest payments due.

Qualifies for this mortatorium only Fannie Mae or Freddie Mac mortgages on a 1- to 4-family residence that is the principal residence of a mortgagor who: (1) was current on principal, interest, tax, and insurance payments at the start of the moratorium; (2) has received unemployment compensation during a certain period but exhausted all rights to it; and (3) as of the beginning of the moratorium has a ratio of debt to income on the mortgage greater than 40%.

stop foreclosures congressional dysfunction act requires director federal_housing_finance_agency fhfa prohibit mortgagees certain eligible mortgages initiating foreclosure specified month moratorium respect mortgages owned held securitized guaranteed federal_national_mortgage_association fannie_mae federal_home_loan_mortgage_corporation freddie_mac tolls term mortgages moratorium requires deferral principal interest payments qualifies fannie_mae freddie_mac mortgages family residence principal residence mortgagor current principal interest tax insurance payments start moratorium received unemployment compensation certain period exhausted rights beginning moratorium ratio debt income mortgage greater


Summary: Foreclosure Fairness Act of 2014 - Prohibits a court, in the case of any federally related mortgage loan made after enactment of this Act, from entering a deficiency judgment requiring the mortgagor to pay any balance on the mortgage loan after a foreclosure sale of the mortgaged property.

foreclosure fairness act prohibits court case federally related mortgage loan enactment act entering deficiency judgment requiring mortgagor pay balance mortgage loan foreclosure sale mortgaged property


Summary:
Data Accountability and Trust Act - Requires the Federal Trade Commission (FTC) to promulgate regulations requiring each person engaged in interstate commerce that owns or possesses data containing personal information to establish specified security policies and procedures to treat and protect such information.

Requires the regulations to include methods for disposing of both electronic and nonelectronic data.

Requires information brokers to submit their security policies to the FTC in conjunction with a notification of a security breach notification or on FTC request. Authorizes the FTC to conduct information security practices audits of brokers who have had a security breach or require such brokers to conduct independent audits.

Requires information brokers to: (1) establish procedures to verify the accuracy of information that identifies individuals, (2) provide to individuals whose personal information it maintains a means to review it, (3) place a conspicuous notice on the Internet instructing individuals how to request access to such information, and (4) correct inaccurate information.

Directs the FTC to require information brokers to establish measures which facilitate the auditing or retracing of access to, or transmissions of, any data containing personal information.

Makes it unlawful for information brokers to obtain or disclose personal information by false pretenses (pretexting).

Requires such person to notify the FTC and affected individuals of information security breaches. Sets forth requirements concerning such notification, including method of notification requirements and timeliness requirements. Allows an exemption from notification requirements if such person determines that there is no reasonable risk of identity theft, fraud, or other unlawful conduct.

Preempts state information security laws.

ftc promulgate regulations requiring person engaged interstate commerce owns possesses data containing personal information establish specified security policies procedures treat protect information requires regulations include methods disposing electronic data requires information brokers submit security policies ftc conjunction notification security breach notification ftc request authorizes ftc conduct information security practices audits brokers security breach require brokers conduct independent audits requires information brokers establish procedures verify accuracy information identifies individuals provide individuals personal information maintains means review place conspicuous notice internet instructing individuals request access information correct inaccurate information directs ftc require information brokers establish measures facilitate auditing retracing access transmissions data containing personal information makes unlawful information brokers obtain disclose personal information false pretenses pretexting requires person notify ftc affected individuals information security breaches sets forth requirements concerning notification including method notification requirements timeliness requirements allows exemption notification requirements person determines reasonable risk identity theft fraud unlawful conduct preempts state information security laws


Summary:
Housing Financial Literacy Act of 2014 - Amends the National Housing Act to revise the single insurance premium payment for a mortgage (secured by a one- to four-family dwelling that is an obligation of the Mutual Mortgage Insurance Fund) of a first-time homebuyer who completes a program of counseling on the responsibilities and financial management involved in homeownership that is approved by the Secretary of Housing and Urban Development (HUD).

Repeals the current maximum premium payment of 2.75% of the amount of the mortgage's original insured principal obligation.

Sets the single mortgage insurance premium payment at 25 basis points lower than the premium payment amount otherwise established.

housing financial literacy act amends national housing act revise single insurance premium payment mortgage secured one- family dwelling obligation mutual_mortgage_insurance_fund time homebuyer completes program counseling responsibilities financial management involved homeownership approved secretary housing_and_urban_development hud repeals current maximum premium payment mortgage original insured principal obligation sets single mortgage insurance premium payment basis points lower premium payment established


Summary: Stop Punishing Innocent Taxpayers Act - Prohibits any administrative offset of a claim asserted by the federal government that has been outstanding for more than 10 years.

stop innocent taxpayers act prohibits administrative offset claim asserted federal government outstanding years


Summary:
Protecting Students From Automatic Default Act of 2014 - Amends the Truth in Lending Act to require a private educational lender to notify a borrower immediately if, upon receiving notification of the death or bankruptcy of a cosigner jointly liable for the private education loan, the lender deems the borrower to be in default, changes the terms of the loan, or accelerates the loan's repayment terms.

Requires a private educational lender to give a borrower at least 90 days after such a notification to identify a new cosigner for that loan. Retains the lender's right to renegotiate loan terms based on the creditworthiness of the new cosigner.

protecting students automatic default act amends truth lending act require private educational lender notify borrower immediately receiving notification death bankruptcy cosigner jointly liable private education loan lender deems borrower default changes terms loan accelerates loan repayment terms requires private educational lender borrower days notification identify new cosigner loan retains lender right renegotiate loan terms based creditworthiness new cosigner


Summary: Student Debt Repayment Fairness Act of 2014 - Amends the Truth in Lending Act to prohibit a private educational lender from accelerating the repayment terms of the outstanding obligation of a borrower in good standing with respect to a particular private education loan if a cosigner jointly liable on the loan is unable to fulfill any obligations with respect to it by reason of death or disability.

student debt repayment fairness act amends truth lending act prohibit private educational lender accelerating repayment terms outstanding obligation borrower good standing respect particular private education loan cosigner jointly liable loan unable fulfill obligations respect reason death disability


Summary:
Community Institution Mortgage Relief Act of 2014 - Amends the Truth in Lending Act (TILA) to require the Board of Governors of the Federal Reserve System to exempt from certain escrow or impound requirements a loan secured by a first lien on a consumer's principal dwelling if the loan is held by a creditor with assets of $10 billion or less.

Amends the Real Estate Settlement Procedures Act of 1974 to direct the Consumer Financial Protection Bureau (CFPB) to provide either exemptions or adjustments from the mortgage loan servicing and escrow account administration requirements of the Act for servicers that annually service 20,000 or fewer mortgage loans.

amends truth lending act tila require board_of_governors federal_reserve_system exempt certain escrow impound requirements loan secured lien consumer principal dwelling loan held creditor assets billion amends real_estate_settlement_procedures_act direct consumer_financial_protection_bureau cfpb provide exemptions adjustments mortgage loan servicing escrow account administration requirements act servicers annually service fewer mortgage loans


Summary: Limiting Investor and Homeowner Loss in Foreclosure Act of 2014 - Authorizes a bankruptcy court to establish a loss mitigation program for the negotiation of consensual alternatives to avoid foreclosure between an individual debtor and the holder of a claim secured by a security interest in the debtor's principal residence.

limiting investor foreclosure act authorizes bankruptcy court establish loss mitigation program negotiation consensual alternatives avoid foreclosure individual debtor holder claim secured security interest debtor principal residence


Summary:
Sensible Accounting to Value Energy Act of 2014 - Directs the Secretary of Housing and Urban Development (HUD) to develop and issue guidelines for all federal mortgage agencies (including the Federal National Mortgage Association [Fannie Mae], the Federal Home Loan Mortgage Corporation [Freddie Mac], and any affiliates) to implement enhanced loan eligibility requirements, for use when testing the ability of a loan applicant to repay a covered loan, that account for the expected energy cost savings for a loan applicant at a subject property.

Directs the Secretary to issue guidelines for how covered agencies shall determine: (1) the maximum permitted loan amount based on the value of the property for all covered loans made on properties with an energy efficiency report, and (2) the estimated energy savings for properties with such a report.

Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to require standards for the performance of real estate appraisals in connection with federally related transactions to require at a minimum that state certified and licensed appraisers have timely access, where practicable, to information from the property owner and the lender that may be relevant in developing an opinion of value regarding the energy- and water-saving improvements or features of a property.

Applies the requirement of state certified appraisers to transactions involving any real property on which the appraiser makes adjustments using an energy efficiency report.

Directs the Secretary to establish an advisory group on the implementation of the enhanced energy efficiency underwriting criteria established in this Act.

sensible accounting value energy act directs secretary housing_and_urban_development hud develop issue guidelines federal mortgage agencies including federal_national_mortgage_association fannie_mae federal_home_loan_mortgage_corporation freddie_mac affiliates implement enhanced loan eligibility requirements use testing ability loan applicant repay covered loan account expected energy cost savings loan applicant subject property directs secretary issue guidelines covered agencies shall determine maximum permitted loan based value property covered loans properties energy efficiency report estimated energy savings properties report amends financial institutions reform recovery enforcement act require standards performance real estate appraisals connection federally related transactions require minimum state certified licensed appraisers timely access practicable information property owner lender relevant developing opinion value energy- water saving improvements features property applies requirement state certified appraisers transactions involving real property appraiser makes adjustments energy efficiency report directs secretary establish advisory group implementation enhanced energy efficiency underwriting criteria established act


Summary: Fair Debt Collections Practices Clarification Act of 2014 - Amends the Fair Debt Collection Practices Act to restrict the award of court costs and attorney fees to the defendant in an action to enforce liability for violating the Act solely upon a finding that the action was brought in bad faith and for the purpose of harassment.

fair debt collections practices clarification act amends fair debt collection practices act restrict award court costs attorney fees defendant action enforce liability violating act solely finding action brought bad faith purpose harassment


Summary:
Responsible GSE Affordable Housing Investment Act of 2014 - Amends the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 to revise requirements for determination of compliance with the multifamily special affordable housing goal.

Requires the Director of the Federal Housing Finance Agency to establish standards for the multifamily special affordable housing goal that proportionately reduce the number of units receiving credit for any mortgage purchase by the Federal Home Loan Mortgage Corporation (Freddie Mac) or the Federal Home Loan Mortgage Association (Fannie Mae) (government-sponsored enterprises or GSEs) that facilitates the conversion of dwelling units available at rental rates affordable to low-income families to dwelling units such families could not afford.

Requires such standards to provide no credit toward achievement of the goal for any mortgage purchase for multifamily housing that involves an aggregate amount of project debt that is not reasonable. Requires the Director to require the GSE to apply this same standard to any mortgages backing any GSE-purchased security to determine whether the units financed by such mortgages are eligible for credit toward achievement of the housing goal.

responsible gse affordable housing investment act amends federal_housing_enterprises_financial_safety soundness act revise requirements determination compliance multifamily special affordable housing goal requires director federal_housing_finance_agency establish standards multifamily special affordable housing goal proportionately reduce number units receiving credit mortgage purchase federal_home_loan_mortgage_corporation freddie_mac fannie_mae government sponsored enterprises gses facilitates conversion dwelling units available rental rates affordable low income families dwelling units families afford requires standards provide credit achievement goal mortgage purchase multifamily housing involves aggregate project debt reasonable requires director require gse apply standard mortgages backing gse purchased security determine units financed mortgages eligible credit achievement housing goal


Summary: Amends the Internal Revenue Code to make permanent the tax deduction for mortgage insurance premiums.

amends internal revenue code permanent tax deduction mortgage insurance premiums


Summary:
National Homeowners Bill of Rights Act of 2014 - Amends the Real Estate Settlement Procedures Act of 1974 to require servicers of federally related mortgage loans to: (1) establish for each borrower's account a single electronic record accessible throughout the servicer, including its agents, and all its affordable loan modification staff, foreclosure staff, and bankruptcy staff; and (2) maintain a free, publicly accessible website where borrowers may check their estimated net present value.

Requires servicers to provide free oral interpretation services, as well as translated documents, upon borrower request, which may be provided by contracting with housing counseling agencies approved by the Department of Housing and Urban Development (HUD).

Prescribes requirements for the affordable loan modification process, including: (1) evaluation of borrowers facing imminent default, (2) assistance in applying for affordable loan modification, (3) treatment of successors in interest, (4) loan transfers, and (5) restrictions upon foreclosure proceedings.

Bars sale of the property securing the mortgage if the servicer of the mortgage does not file a certification with the appropriate land records office where the property securing the mortgage is located, stating that the servicer has determined the eligibility of the mortgagor for an affordable loan modification.

Prescribes criteria governing: (1) mortgagor's eligibility to participate in an affordable loan modification, (2) earned principal forgiveness, (3) principal reduction, and (4) treatment of junior liens.

Subjects a servicer who violates this Act to a civil penalty, and to liability to the borrower. Limits to $1 million the maximum penalty for all violations committed by any particular servicer during any one-year period.

Directs the Director of the Consumer Financial Protection Bureau (CFPB) to appoint a Mortgage Servicer Ombudsman.

Subjects to a maximum fine of $7,500 per loan a servicer who records or files with a land records office or a court more than one document with material deficiencies (robo-signing) with respect to a mortgage loan.

Extends indefinitely the Protecting Tenants at Foreclosure Act of 2009 by repealing its termination date.

national homeowners bill rights act amends real_estate_settlement_procedures_act require servicers federally related mortgage loans establish borrower account single electronic record accessible servicer including agents affordable loan modification staff foreclosure staff bankruptcy staff maintain free publicly accessible website borrowers check estimated net present value requires servicers provide free oral interpretation services documents borrower request provided contracting housing counseling agencies approved department_of_housing_and_urban_development hud prescribes requirements affordable loan modification process including evaluation borrowers facing imminent default assistance applying affordable loan modification treatment successors interest loan transfers restrictions foreclosure proceedings bars sale property securing mortgage servicer mortgage file certification appropriate land records office property securing mortgage located stating servicer determined eligibility mortgagor affordable loan modification prescribes criteria governing mortgagor eligibility participate affordable loan modification earned principal forgiveness principal reduction treatment junior liens subjects servicer violates act civil penalty liability borrower limits million maximum penalty violations committed particular servicer year period directs director consumer_financial_protection_bureau cfpb appoint mortgage servicer ombudsman subjects maximum fine loan servicer records files land records office court document material deficiencies robo signing respect mortgage loan extends indefinitely protecting_tenants foreclosure act repealing termination date


Summary:
Partnership to Strengthen Homeownership Act of 2014 - Amends the National Housing Act to remove the Government National Mortgage Association (Ginnie Mae) from the Department of Housing and Urban Development (HUD) and establish it as an independent entity, with a Director in place of the Secretary of Housing and Urban Development.

Transfers to Ginnie Mae the powers, duties, personnel, and property of Federal Housing Finance Agency (FHFA), which is hereby abolished.

Establishes within Ginnie Mae the Issuing Platform, available for use only by eligible originators and aggregators of mortgages, to issue standardized mortgage-backed securities.

Requires Ginnie Mae to establish: (1) a method of assessing a national average single-family house price for use in calculating the loan limits for single-family mortgage loans, and (2) an insurance fund and insure 100% of each security issued by the Platform.

Prescribes requirements for: (1) a participating mortgage originator or aggregator to deliver to the Platform a pool of eligible mortgage loans; and (2) the Platform, upon receiving a pool of eligible mortgages, to create standardized mortgage-backed securities collateralized by such mortgages and transfer them to the mortgage originator or aggregator.

Exempts standardized mortgage-backed securities issued by the Platform from federal securities laws.

Outlines requirements for: (1) servicing rights, representations, and warranties; (2) insurance for securities issued by the Platform, (3) capital and related solvency standards, and (4) Fund reserve balance.

Prescribes requirements for Ginnie Mae's actions if unusual and exigent circumstances have created or threaten to create an anomalous lack of mortgage credit availability within the housing market that could materially and severely disrupt the functioning of the housing finance system of the United States. Prohibits Ginnie Mae, in exercising such authority, from: (1) bailing out approved entities or affiliates, or (2) assisting companies to avoid bankruptcy.

Amends the Federal Home Loan Bank Act to make any lender of home mortgage loans eligible to become a member of a Federal Home Loan Bank. Requires each such Bank to provide pooling services to both members and non-members who wish to pool eligible mortgages for purposes of securitizing them through the Issuing Platform.

Directs the Director of Ginnie Mae to: (1) prohibit the government-sponsored enterprises (GSEs) (Federal National Mortgage Association [Fannie Mae] and the Federal Home Loan Mortgage Corporation [Freddie Mac]) after a specified certification date from issuing, guaranteeing, or purchasing any security backed by mortgages on 1- to 4-family residences except as specifically authorized by this Act; (2) permit a GSE to act until a certain time as a participating aggregator of eligible mortgages for securitization if the business volume of their originators is insufficient to allow them to aggregate and securitize such mortgages; and (3) allow a GSE to act as a reinsurer for a mortgage-backed security until the GSE goes into receivership under this Act.

Requires each GSE to establish a risk-sharing pilot program to develop private sector first-loss positions on mortgage-backed securities.

Continues the current conservatorships of the GSEs until the commencement of mandatory receivership under this Act.

Requires the Director to appoint Ginnie Mae as receiver of the GSEs by a certain date. Prescribes requirements for winding down the GSEs.

Directs the Director to direct Fannie Mae and Freddie Mac to develop a plan to establish a multifamily subsidiary for purposes of providing sufficient multifamily housing financing and establishing a competitive multifamily housing market for multifamily housing guarantors engaging in multifamily covered securities. Makes necessary transfers of Fannie Mae and Freddie Mac functions to the multifamily subsidiary.

Directs the Director to develop, adopt, publish, and enforce standards for the approval of multifamily guarantors to: (1) issue securities collateralized by eligible multifamily mortgage loans, and (2) guarantee the timely payment of principal and interest on such securities collateralized by eligible multifamily mortgage loans and insured by Ginnie Mae.

Amends the Housing and Community Development Act of 1992 to allow Ginnie Mae to securitize multifamily loans insured or reinsured under such Act under certain circumstances.

Requires the Platform in each fiscal year to: (1) charge and collect a certain fee for the outstanding principal balance of all eligible mortgage loans that collateralize securities insured under this Act and all other mortgage loans collateralizing securities on which Ginnie Mae guarantees the timely payment of principal and interest; and (2) allocate or otherwise transfer on an annual basis specified percentages of such fee amounts to fund the Housing Trust Fund, the Capital Magnet Fund, and the Market Access Fund (which Ginnie Mae is directed to establish).

Amends the Safety and Soundness Act with respect to the Housing Trust Fund and housing for Indians.

Amends the Federal Home Loan Bank Act to authorize Federal Home Loan Banks to make long-term secured advances to their members to provide funds to community development financial institutions.

Requires a Federal Home Loan Bank, at the time of origination or renewal of a loan or advance, to obtain and maintain a security interest in collateral eligible pursuant to any secured loan for a community development financial institution.

partnership strengthen homeownership act amends national housing act remove government_national_mortgage_association ginnie_mae department_of_housing_and_urban_development hud establish independent entity director place secretary housing_and_urban_development transfers ginnie_mae powers duties personnel property federal_housing_finance_agency fhfa abolished establishes ginnie_mae issuing platform available use eligible originators aggregators mortgages issue standardized mortgage backed securities requires ginnie_mae establish method assessing national average single family house price use calculating loan limits single family mortgage loans insurance fund insure security issued platform prescribes requirements participating mortgage originator deliver platform pool eligible mortgage loans platform receiving pool eligible mortgages create standardized mortgage backed securities collateralized mortgages transfer mortgage originator exempts standardized mortgage backed securities issued platform federal securities laws outlines requirements servicing rights representations warranties insurance securities issued platform capital related solvency standards fund reserve balance prescribes requirements ginnie_mae actions unusual exigent circumstances created threaten create lack mortgage credit availability housing market materially severely disrupt functioning housing finance system united_states prohibits ginnie_mae exercising authority approved entities affiliates assisting companies avoid bankruptcy amends federal_home_loan_bank act lender home mortgage loans eligible member federal_home_loan_bank requires bank provide pooling services members non members wish pool eligible mortgages purposes issuing platform directs director ginnie_mae prohibit government sponsored enterprises gses federal_national_mortgage_association fannie_mae federal_home_loan_mortgage_corporation freddie_mac specified certification date issuing guaranteeing purchasing security backed mortgages family residences specifically authorized act permit gse act certain time participating eligible mortgages securitization business volume originators insufficient allow aggregate securitize mortgages allow gse act reinsurer mortgage backed security gse goes receivership act requires gse establish risk sharing pilot program develop private sector loss positions mortgage backed securities continues current gses commencement mandatory receivership act requires director appoint ginnie_mae receiver gses certain date prescribes requirements winding gses directs director direct fannie_mae freddie_mac develop plan establish multifamily subsidiary purposes providing sufficient multifamily housing financing establishing competitive multifamily housing market multifamily housing guarantors engaging multifamily covered securities makes necessary transfers fannie_mae freddie_mac functions multifamily subsidiary directs director develop adopt publish enforce standards approval multifamily guarantors issue securities collateralized eligible multifamily mortgage loans guarantee timely payment principal interest securities collateralized eligible multifamily mortgage loans insured ginnie_mae amends housing_and_community_development_act allow ginnie_mae securitize multifamily loans insured act certain circumstances requires platform fiscal year charge collect certain fee outstanding principal balance eligible mortgage loans securities insured act mortgage loans securities ginnie_mae guarantees timely payment principal interest allocate transfer annual basis specified percentages fee amounts fund housing_trust_fund capital_magnet_fund ginnie_mae directed establish amends safety soundness act respect housing_trust_fund housing indians amends federal_home_loan_bank act authorize federal_home_loan_banks long term secured advances members provide funds community development financial institutions requires federal_home_loan_bank time origination renewal loan advance obtain maintain security interest collateral eligible pursuant secured loan community development financial institution


Summary:
Protecting Consumers from Unreasonable Credit Rates Act of 2014 - Amends the Truth in Lending Act to prohibit a creditor from extending credit to a consumer under an open end consumer credit plan (credit card) for which the fee and interest rate exceeds 36%.

Sets forth criminal penalties for violations of this Act. Empowers state Attorneys General to enforce this Act.

Revises requirements for a periodic statement for each billing cycle with respect to where the total finance charge exceeds 50 cents for a monthly or longer billing cycle, or the pro rata part of 50 cents for a billing cycle shorter than monthly. Requires inclusion of the fee and interest rate, displayed as "FAIR," instead of the total finance charge expressed as an annual percentage rate (APR).

protecting_consumers unreasonable credit rates act amends truth lending act prohibit creditor extending credit consumer open end consumer credit plan credit card fee interest rate exceeds sets forth criminal penalties violations act empowers state attorneys general enforce act revises requirements periodic statement billing cycle respect total finance charge exceeds cents monthly longer billing cycle pro rata cents billing cycle shorter monthly requires inclusion fee interest rate displayed fair instead total finance charge expressed annual percentage rate apr


Summary:
Access to Affordable Mortgages Act of 2014 - Amends the Truth in Lending Act to exempt from property appraisal requirements certain higher-risk mortgage loans of $250,000 or less if such a loan appears on the balance sheet of the creditor of the loan for at least three years.

Exempts certain individuals required to make such reports from penalties for failure to report any appraisers reasonably suspected of failing to comply with the Uniform Standards of Professional Appraisal Practice, of violating applicable laws, or of otherwise engaging in unethical or unprofessional conduct.

Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to exempt such higher-risk mortgage loans from property appraisal or evaluation standard requirements.

access affordable mortgages act amends truth lending act exempt property appraisal requirements certain higher risk mortgage loans loan appears balance sheet creditor loan years exempts certain individuals required reports penalties failure report appraisers reasonably suspected failing comply violating applicable laws engaging unethical conduct amends financial institutions reform recovery enforcement act exempt higher risk mortgage loans property appraisal evaluation standard requirements


Summary: Protecting Independence in the Education of Loan Originators Act of 2014 - Amends the S.A.F.E. Mortgage Licensing Act of 2008 to prohibit the courses offered by lenders for their own employees from satisfying the pre-licensing education or continuing education requirement.

amends mortgage licensing act prohibit courses offered lenders employees satisfying pre licensing education continuing education requirement


Summary:
Facilitating Access to Credit Act of 2014 - Amends the Credit Repair Organizations Act to exempt from its coverage any consumer reporting agency (or affiliate or subsidiary) described under the Fair Credit Reporting Act as:

 one that compiles and maintains files on consumers on a nationwide basis; or any person which, for monetary fees, dues, or on a cooperative nonprofit basis, regularly engages in whole or in part in the practice of assembling or evaluating consumer credit information or other information on consumers in order to furnish consumer reports to third parties, if the person is subject to supervision and examination by the Consumer Financial Protection Bureau (CFPB). Preempts state law and regulations concerning a credit repair organization to the extent they would apply to consumer reporting agencies subject to this Act.

Directs the Federal Trade Commission (FTC) to study whether, in addition to these persons, any other person should be exempt from the Credit Repair Organizations Act.

facilitating access credit act amends exempt coverage consumer reporting agency affiliate subsidiary described fair credit reporting act compiles maintains files consumers nationwide basis person monetary fees dues cooperative nonprofit basis regularly engages practice assembling evaluating consumer credit information information consumers order furnish consumer reports parties person subject supervision examination consumer_financial_protection_bureau cfpb preempts state law regulations concerning credit repair organization extent apply consumer reporting agencies subject act directs federal_trade_commission ftc study addition persons person exempt


Summary:
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Title I: Insurance Capital Standards - Insurance Capital Standards Clarification Act of 2014 - (Sec. 102) Amends the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) concerning establishment of minimum leverage and minimum risk-based capital requirements on a consolidated basis for a depository institution holding company or a nonbank financial company supervised by the Board of Governors of the Federal Reserve System.

States that federal banking agencies shall not be required to subject any person to such minimum capital requirements, to the extent that such person either: (1) acts in its capacity as a regulated insurance entity regulated by a state insurance regulator, or (2) is a regulated foreign subsidiary engaged in the business of insurance (including a regulated foreign affiliate of such subsidiary).

States that a Board-supervised depository institution holding company or nonbank financial company engaged in the insurance business and regulated by either a state insurance regulator or the National Association of Insurance Commissioners, and which files its holding company financial statements using only Statutory Accounting Principles pursuant to state law, shall not be required by the Board, under this Act or the Home Owners' Loan Act (HOLA), to prepare such financial statements in accordance with Generally Accepted Accounting Principles.

Declares that nothing in this Act shall: (1) limit Board authority to conduct any regulatory or supervisory activity of either a depository institution holding company or a non-bank financial company under Board jurisdiction, including the collecting or reporting of any information on an entity or group-wide basis; or (2) excuse the Board from its obligations to comply with Dodd-Frank requirements regarding examination of nonbank financial companies and HOLA requirements regarding examination of savings and loan holding companies.

Title II: Collateralized Loan Obligations - Restoring Proven Financing for American Employers Act - (Sec. 202) Amends the Bank Holding Company Act of 1956 with respect to certain prohibitions on proprietary trading by banking entities and certain relationships with hedge funds and private equity funds (Volcker Rule).

Prescribes rules of construction governing a collateralized loan obligation to prohibit the Volcker Rule from being construed to require divestiture, before July 21, 2017, of any debt securities of collateralized loan obligations issued before January 31, 2014.

Declares that a banking entity shall not be considered to have an ownership interest in a collateralized loan obligation because it either acquires, has acquired, or retains a debt security in such obligation if the debt security has no indicia of ownership other than the right of the banking entity to participate in the removal for cause, or in the selection of a replacement after removal for cause or resignation, of an investment manager or investment adviser of the collateralized loan obligation.

Defines "collateralized loan obligation" as any issuing entity of an asset-backed security comprised primarily of commercial loans.

 Deems an investment manager or adviser to be removed "for cause" if the removal is a result of:

 a breach of a material term of the applicable management or advisory agreement or the agreement governing the collateralized loan obligation; the investment manager's or investment adviser's inability to continue to perform its obligations under any such agreement; any other action or inaction by the investment manager or investment adviser that has or could reasonably be expected to have a materially adverse effect on the collateralized loan obligation, if the investment manager or investment adviser fails to cure or take reasonable steps to cure such effect within a reasonable time; or an event or circumstance which threatens, or could reasonably be expected to threaten, the interests of holders of the debt securities. Title III: Definition Of Points And Fees In Mortgage Transactions - Mortgage Choice Act of 2014 - (Sec. 302) Amends the Truth in Lending Act with respect to requirements for disclosure to a consumer of points and fees information about a consumer credit transaction, secured by the consumer's principal dwelling, but which is not a residential mortgage transaction, a reverse mortgage transaction, or a transaction under an open end credit plan, when the total points and fees the consumer must pay at or before closing will exceed 8% of the total loan amount or $400, whichever is greater. (Such consumer credit transactions might include an equity credit line to which consumer purchases or leases may be charged.)

Excludes from the computation of such points and fees any escrow for future payment of insurance.

Modifies the criteria for exclusion from the computation of points and fees of certain reasonable charges elsewhere exempted from the computation of the finance charge in extensions of credit secured by an interest in real property. Excludes from points and fees any such reasonable charges even though a creditor receives compensation, but only in so far as the creditor or its affiliate retains the compensation as a result of their participation in an affiliated business arrangement.

(An "affiliated business arrangement" is one in which: (1) a person who is in a position to refer business incident to or a part of a real estate settlement service involving a federally related mortgage loan, or an associate of such person, has either an affiliate relationship with or a direct or beneficial ownership interest of more than 1% in a provider of settlement services; and (2) either of such persons directly or indirectly refers such business to that provider or affirmatively influences the provider's selection.)

Revises the additional requirement that such a reasonable charge be paid to a third party unaffiliated with the creditor. Requires the charge to be either: (1) a bona fide third party charge not retained by the mortgage originator, creditor, or an affiliate; or (2) a fee or premium for title examination, title insurance, or similar purposes.

Modifies the conditions under which federal departments and agencies may exempt refinancings under a streamlined refinancing from an income verification requirement that, at the time a refinancing is consummated, the consumer has a reasonable ability to repay the loan and all applicable taxes, insurance, and assessments.

Repeals the exception for bona fide third party charges not retained by the mortgage originator, creditor, or an affiliate from the requirement that total points and fees not exceed 3% of the total new loan amount. (Thus subjects such charges to the same 3% ceiling.)

(Sec. 303) Directs the Consumer Financial Protection Bureau (CFPB) to issue, within 90 days after enactment of this Act, final regulations to it carry out.

Title IV: Business Risk Mitigation And Price Stabilization - Business Risk Mitigation and Price Stabilization Act of 2014 - (Sec. 402) Amends the Commodity Exchange Act (CEA) to exempt, from the rules of prudential regulators for swap dealers and major swap participants with respect to initial and variation margin requirements for swaps not cleared by a registered derivatives clearing organization, those swaps in which one of the counterparties:

 is eligible for an exception from clearing requirements because it is not a financial entity, uses swaps to hedge or mitigate commercial risk, and notifies the Commodity Futures Trading Commission (CFTC) how it meets financial obligations associated with entering into non-cleared swaps; is eligible for a public interest exemption from swap clearing requirements for certain cooperative entities; or satisfies specified criteria governing treatment of affiliates in connection with clearing requirements. Amends the Securities Exchange Act of 1934 (SEA 1934) regarding registration and regulation of security-based swap dealers and major security-based swap participants, to exempt from initial and variation margin requirements for swaps not cleared by a registered derivatives clearing organization a security-based swap in which one of the counterparties either: (1) qualifies for a specified exception from clearing requirements, or (2) satisfies certain criteria governing the treatment of affiliates.

measure amended introduced summary expanded action occurred measure title insurance capital standards insurance capital standards clarification act sec amends dodd frank wall street reform consumer protection act dodd-frank concerning establishment minimum leverage minimum risk based capital requirements consolidated basis depository institution holding company nonbank financial company supervised board_of_governors federal_reserve_system states federal banking agencies shall required subject person minimum capital requirements extent person acts capacity regulated insurance entity regulated state insurance regulator regulated foreign subsidiary engaged business insurance including regulated foreign affiliate subsidiary states board supervised depository institution holding company nonbank financial company engaged insurance business regulated state insurance regulator national_association_of_insurance_commissioners files holding company financial statements statutory accounting principles pursuant state law shall required board act prepare financial statements accordance declares act shall limit board authority conduct regulatory supervisory activity depository institution holding company non bank financial company board jurisdiction including collecting reporting information entity group wide basis board obligations comply dodd-frank requirements examination nonbank financial companies requirements examination savings loan holding companies title collateralized loan obligations restoring proven financing american employers act sec amends bank_holding_company_act respect certain prohibitions proprietary trading banking entities certain relationships hedge funds private equity funds volcker rule prescribes rules construction governing collateralized loan obligation prohibit volcker rule construed require divestiture july debt securities collateralized loan obligations issued january declares banking entity shall considered ownership interest collateralized loan obligation acquires acquired retains debt security obligation debt security indicia ownership right banking entity participate removal cause selection replacement removal cause resignation investment manager investment adviser collateralized loan obligation defines collateralized loan obligation issuing entity asset backed security comprised primarily commercial loans deems investment manager adviser removed cause removal result breach material term applicable management advisory agreement agreement governing collateralized loan obligation investment manager investment adviser inability continue perform obligations agreement action inaction investment manager investment adviser reasonably expected materially adverse effect collateralized loan obligation investment manager investment adviser fails cure reasonable steps cure effect reasonable time event circumstance threatens reasonably expected threaten interests holders debt securities title iii definition points fees mortgage transactions mortgage choice act sec amends truth lending act respect requirements disclosure consumer points fees information consumer credit transaction secured consumer principal dwelling residential mortgage transaction reverse mortgage transaction transaction open end credit plan total points fees consumer pay closing exceed total loan whichever greater consumer credit transactions include equity credit line consumer purchases leases charged excludes computation points fees escrow future payment insurance modifies criteria exclusion computation points fees certain reasonable charges exempted computation finance charge extensions credit secured interest real property excludes points fees reasonable charges creditor receives compensation far creditor affiliate retains compensation result participation affiliated business arrangement affiliated business arrangement person position refer business incident real estate settlement service involving federally related mortgage loan associate person affiliate relationship direct beneficial ownership interest provider settlement services persons directly indirectly refers business provider affirmatively influences provider selection revises additional requirement reasonable charge paid party unaffiliated creditor requires charge bona fide party charge retained mortgage originator creditor affiliate fee premium title examination title insurance similar purposes modifies conditions federal departments agencies exempt refinancings streamlined refinancing income verification requirement time refinancing consummated consumer reasonable ability repay loan applicable taxes insurance assessments repeals exception bona fide party charges retained mortgage originator creditor affiliate requirement total points fees exceed total new loan subjects charges ceiling sec directs consumer_financial_protection_bureau cfpb issue days enactment act final regulations carry title business risk mitigation price stabilization business risk mitigation price stabilization act sec amends commodity_exchange_act cea exempt rules prudential regulators swap dealers major swap participants respect initial variation margin requirements swaps cleared registered derivatives clearing organization swaps counterparties eligible exception clearing requirements financial entity uses swaps hedge mitigate commercial risk notifies commodity_futures_trading_commission cftc meets financial obligations associated entering non cleared swaps eligible public interest exemption swap clearing requirements certain cooperative entities satisfies specified criteria governing treatment affiliates connection clearing requirements amends securities_exchange_act sea registration regulation security based swap dealers major security based swap participants exempt initial variation margin requirements swaps cleared registered derivatives clearing organization security based swap counterparties qualifies specified exception clearing requirements satisfies certain criteria governing treatment affiliates


Summary:
Amends the Fair Credit Reporting Act (FCRA) to require any person (any individual, partnership, corporation, trust, estate, cooperative, association, government or governmental agency, or other entity) who develops a tool or system for deriving a credit score to make such tool or system available to the public, including on such person's website.

Removes provisions that prohibit FCRA from being construed to require: (1) a consumer reporting agency to disclose to a consumer any information concerning credit scores or any other risk scores or predictors relating to the consumer, or (2) a consumer reporting agency that distributes credit scores developed by another person or entity to provide a further explanation of such scores or to process a dispute regarding the accuracy of a consumer's file.

Requires a person or entity who furnishes information to a consumer reporting agency with respect to a debt of a consumer to notify the consumer reporting agency of any settlement agreement that the person or entity has entered into with the consumer regarding such debt within 30 days of any such agreement.

amends fair credit reporting act fcra require person individual partnership corporation trust estate cooperative association government governmental agency entity develops tool system deriving credit score tool system available public including person website removes provisions prohibit fcra construed require consumer reporting agency disclose consumer information concerning credit scores risk scores predictors relating consumer consumer reporting agency distributes credit scores developed person entity provide explanation scores process dispute accuracy consumer file requires person entity furnishes information consumer reporting agency respect debt consumer notify consumer reporting agency settlement agreement person entity entered consumer debt days agreement


Summary: Preserving Multifamily Housing Act of 2014 - Prohibits the Director of the Federal Housing Finance Agency (FHFA) from taking any action that has the effect of reducing or limiting the volume or scope of the business of the Federal National Mortgage Association (Fannie Mae) or the Federal Home Loan Mortgage Corporation (Freddie Mac) (government-sponsored enterprises or GSEs) in mortgages for multifamily housing unless the Director: (1) determines that there is substantial evidence that such action is necessary to ensure the financial safety and soundness of the GSE, (2) causes that determination to be published in the Federal Register, and (3) submits written notice of the determination to Congress.

preserving multifamily housing act prohibits director federal_housing_finance_agency fhfa taking action effect reducing limiting volume scope business federal_national_mortgage_association fannie_mae federal_home_loan_mortgage_corporation freddie_mac government sponsored enterprises gses mortgages multifamily housing director determines substantial evidence action necessary ensure financial safety soundness gse causes determination published federal_register submits written notice determination congress


Summary:
Fast Help For Homeowners Act - Amends the Truth in Lending Act to require the servicer of a federally related mortgage, upon request by the mortgagor for a short sale of the dwelling or residential real property under the mortgage, to notify in writing each holder of a subordinate lien on the property securing the loan of such request, together with a copy of it.

Requires a subordinate lien holder that is so notified to respond in writing to the servicer within 45 days after receiving the notification. Considers the request approved by the holder if the holder does not respond within the 45 days.

fast help homeowners act amends truth lending act require servicer federally related mortgage request mortgagor short sale dwelling residential real property mortgage notify writing holder subordinate lien property securing loan request copy requires subordinate lien holder notified respond writing servicer days receiving notification considers request approved holder holder respond days


Summary:
Preventing Improper Foreclosures Act of 2014 - Amends the Garn-St Germain Depository Institutions Act of 1982 with respect to the prohibition against exercise of a due-on-sale contract requirement upon certain transfers of property subject to a real property loan.  Requires the lender, in the case of such a transfer, to provide the successor homeowner with information about the mortgage loan, including the availability of loan modification options.

Requires a lender, with respect to any such transfer not involving a reverse mortgage, to: (1)  evaluate the successor homeowner promptly for a loan modification on the same terms as if the successor homeowner had been the original borrower and mortgagor, and (2) perform this evaluation and offer any available loss mitigation before any assumption by the successor homeowner of the obligations under the note.

Allows the failure of a lender to comply with such requirements to be asserted as a defense to any judicial or non-judicial foreclosure. Entitles the homeowner to recover statutory damages not to exceed $1,000 per violation, actual damages, costs, and attorney's fees in any successful action the homeowner brings.

Amends the National Housing Act with respect to insurance of home equity conversion mortgages (reverse mortgages) for elderly homeowners. Prohibits the Secretary of Housing and Urban Development (HUD) from insuring a reverse mortgage unless the mortgage provides that the maturity of the loan obligation (currently, the homeowner's obligation to satisfy the loan obligation) is deferred until the death of the homeowner (as under current law) and the homeowner's spouse or the permanent relocation of the homeowner and homeowner's spouse, in addition to sale of the home or other occurrences specified by the Secretary as under current law.

Adds new sales terms for a reverse mortgage to be eligible for insurance. Denies any liability of the mortgagor (as under current law) or the mortgagor's estate or the heirs for any difference between the amount of indebtedness under the mortgage and the amount recovered by the mortgagee from the net sales proceeds or the insurance benefits paid.

Requires a reverse mortgage, to be eligible for mortgage insurance, to allow: (1) sale of the dwelling subject to the mortgage for at least the lesser of the remaining mortgage balance or the dwelling's appraised value (or 5% less than the dwelling's appraised value, if the loan is due and payable); and (2) satisfaction of the loan obligation by the mortgagor's estate or heirs, upon the mortgagor's death, for the lesser of the remaining mortgage balance or 5% less than the appraised value.

preventing improper foreclosures act amends depository institutions act respect prohibition exercise sale contract requirement certain transfers property subject real property loan requires lender case transfer provide successor homeowner information mortgage loan including availability loan modification options requires lender respect transfer involving reverse mortgage evaluate successor homeowner promptly loan modification terms successor homeowner original borrower mortgagor perform evaluation offer available loss mitigation assumption successor homeowner obligations note allows failure lender comply requirements asserted defense judicial non judicial foreclosure entitles homeowner recover statutory damages exceed violation actual damages costs attorney fees successful action homeowner brings amends national housing act respect insurance home equity conversion mortgages reverse mortgages elderly homeowners prohibits secretary housing_and_urban_development hud insuring reverse mortgage mortgage provides maturity loan obligation currently homeowner obligation satisfy loan obligation deferred death homeowner current law homeowner spouse permanent relocation homeowner homeowner spouse addition sale home occurrences specified secretary current law adds new sales terms reverse mortgage eligible insurance denies liability mortgagor current law mortgagor estate heirs difference indebtedness mortgage recovered mortgagee net sales proceeds insurance benefits paid requires reverse mortgage eligible mortgage insurance allow sale dwelling subject mortgage lesser remaining mortgage balance dwelling appraised value dwelling appraised value loan payable satisfaction loan obligation mortgagor estate heirs mortgagor death lesser remaining mortgage balance appraised value


Summary: Consumer Debt Forgiveness Tax Relief Act of 2014 - Amends the Internal Revenue Code to exclude from gross income, for income tax purposes, income that is imputed to the discharge of qualified consumer indebtedness. Defines "qualified consumer indebtedness" as any indebtedness of a natural person arising out of a transaction in which the money, property, or services that are the subject of the transaction are primarily for personal, family, or household purposes. Provides that the aggregate amount of discharged indebtedness excludible from gross income shall not exceed the excess of $2,500 over the aggregate amounts treated as qualified consumer indebtedness for all prior taxable years.

consumer debt forgiveness tax relief act amends internal revenue code exclude gross income income tax purposes income imputed discharge qualified consumer indebtedness defines qualified consumer indebtedness indebtedness natural person arising transaction money property services subject transaction primarily personal family household purposes provides aggregate discharged indebtedness excludible gross income shall exceed excess aggregate amounts treated qualified consumer indebtedness prior taxable years


Summary: Online Credit Card Disclosure Act of 2014 - Amends the Truth in Lending Act to require the billing statement of a consumer's account under an open end online credit plan to make specified disclosures in a conspicuous and prominent location on its webpage with each billing cycle.

online credit card disclosure act amends truth lending act require billing statement consumer account open end online credit plan specified disclosures conspicuous prominent location webpage billing cycle


Summary:
Seller Finance Regulation Reduction Act - Amends the S.A.F.E. Mortgage Licensing Act of 2008 to exempt from certain licensing and registration requirements any person (other than a depository institution) who: (1) has less than $25 million in assets; and (2) only originates residential mortgage loans with respect to property owed by the person, and in an amount of $150,000 or less.

Amends the Truth in Lending Act, with respect to minimum standards for residential mortgage loans, to prohibit, in determining whether a residential mortgage loan is a qualified mortgage, from applying to loans originated by such a person certain guidelines and regulations relating to ratios of total monthly debt to monthly income.

seller finance regulation reduction act amends mortgage licensing act exempt certain licensing registration requirements person depository institution million assets originates residential mortgage loans respect property owed person amends truth lending act respect minimum standards residential mortgage loans prohibit determining residential mortgage loan qualified mortgage applying loans originated person certain guidelines regulations relating ratios total monthly debt monthly income


Summary: Amends the Internal Revenue Code to make permanent the exclusion from gross income of income attributable to the discharge of indebtedness on a principal residence.

amends internal revenue code permanent exclusion gross income income attributable discharge indebtedness principal residence


Summary:
Amends the Fair Credit Reporting Act, with respect to protections for credit reports of minor consumers, to require a consumer reporting agency, upon request by the legal guardian or custodian of a minor consumer (including the state or tribal agency responsible for a child in foster care), to either create a blocked file for the minor or convert an already existing file to blocked status.

Directs the Consumer Financial Protection Bureau (CFPB) to: (1) establish implementing procedures, and (2) determine what fee, if any, may be charged by a consumer reporting agency to create, convert, or unblock a file.

Requires a consumer reporting agency to: (1) unblock a blocked file upon request by a guardian or on the minor's 18th birthday, and (2) include an alert statement in an unblocked file if the minor consumer was a victim of fraud or identity theft before that 18th birthday.

Requires a reseller who furnishes information concerning a consumer file containing an alert statement to include it when furnishing information.

Prohibits a consumer reporting agency from charging a fee to create, convert, or unblock the file of a consumer who was a victim of fraud or identity theft before his or her 18th birthday.

amends fair credit reporting act respect protections credit reports minor consumers require consumer reporting agency request legal guardian custodian minor consumer including state tribal agency responsible child foster care create blocked file minor convert existing file blocked status directs consumer_financial_protection_bureau cfpb establish implementing procedures determine fee charged consumer reporting agency create convert file requires consumer reporting agency blocked file request guardian minor 18th birthday include alert statement file minor consumer victim fraud identity theft 18th birthday requires reseller furnishes information concerning consumer file containing alert statement include furnishing information prohibits consumer reporting agency charging fee create convert file consumer victim fraud identity theft 18th birthday


Summary: Medical Debt Responsibility Act of 2013 - Amends the Fair Credit Reporting Act to prohibit a consumer reporting agency from making any report containing information related to a fully paid or settled medical debt that had been characterized as delinquent, charged off, or in collection which, from the date of payment or settlement, antedates the report by more than 45 days.

medical debt responsibility act amends fair credit reporting act prohibit consumer reporting agency making report containing information related fully paid settled medical debt characterized delinquent charged collection date payment settlement antedates report days


Summary:
Stopping Abuse and Fraud in Electronic Lending Act of 2013 or SAFE Lending Act of 2013 - Amends the Electronic Fund Transfer Act to authorize the issuance of remotely created checks only if the consumer has designated in writing a person to issue them.

Defines a "remotely created check" as one that: (1) is not created by the financial institution that holds the customer account from which the check is to be paid; and (2) does not bear a signature applied, or purported to be applied, by the person from whose account the check is to be paid.

 Treats as a preauthorized electronic fund transfer (EFT) subject to the protections of such Act any voluntary repayment by a consumer of an extension of a small-dollar ($5,000 or less) consumer credit transaction by means of an EFT.

Amends the Truth in Lending Act to require any small-dollar consumer credit transaction made over the Internet, telephone, FAX, mail, electronic mail, or other electronic communication, as well as any conducted by a national bank, to comply with the laws of the state in which the consumer resides with respect to annual percentage rates, interest, fees, charges, and such other matters as the Consumer Financial Protection Bureau (CFPB) may determine.

Prohibits a person from facilitating, brokering, arranging, gathering applications for, distributing sensitive personal financial information, or extending credit in connection with a small-dollar consumer credit transaction unless that person is directly providing the small-dollar consumer credit to the consumer.

 Empowers the CFPB to investigate violations of this Act. Sets forth investigative and cease-and-desist enforcement procedures, particularly with respect to both covered onshore persons (state governments or Indian tribes) or offshore persons (which conduct business directed to U.S. residents but from a location outside, and without a domain name registered or assigned by an authority within, any U.S. judicial district).

Directs the Government Accountability Office (GAO) to study the availability of capital on Indian reservations and the impact that small-dollar consumer credit extended through Internet and non-Internet means to members of Indian tribes has had upon economic opportunity and wealth for tribal members.

stopping abuse fraud electronic lending act safe lending act amends electronic fund transfer act authorize issuance remotely created checks consumer designated writing person issue defines remotely created check created financial institution holds customer account check paid bear signature applied purported applied person account check paid treats preauthorized electronic fund transfer eft subject protections act voluntary repayment consumer extension small dollar consumer credit transaction means eft amends truth lending act require small dollar consumer credit transaction internet telephone fax mail electronic mail electronic communication conducted national bank comply laws state consumer resides respect annual percentage rates interest fees charges matters consumer_financial_protection_bureau cfpb determine prohibits person facilitating arranging gathering applications distributing sensitive personal financial information extending credit connection small dollar consumer credit transaction person directly providing small dollar consumer credit consumer empowers cfpb investigate violations act sets forth investigative cease desist enforcement procedures particularly respect covered onshore persons state governments indian tribes offshore persons conduct business directed residents location outside domain registered assigned authority judicial district directs government_accountability_office gao study availability capital indian reservations impact small dollar consumer credit extended internet non internet means members indian tribes economic opportunity wealth tribal members


Summary:
Deceptive Loan Check Elimination Act - Amends the Truth in Lending Act (TILA) to prohibit a person from extending any consumer credit through the use by the consumer of a check or other negotiable instrument sent by the creditor to solicit an extension of consumer credit, unless the consumer has requested it in writing.

States that a nonnegotiable instrument that has the appearance of a negotiable instrument in connection with a solicitation for an extension of credit is not an application or request for purposes of this Act.

Shields a consumer from liability for: (1) the principal amount of a negotiable instrument sent in violation of this Act; or (2) any interest, fee, or penalty charged in connection with such negotiable instrument.

 Prohibits any information relating to the liability of a consumer alleged by a creditor to have been established through a negotiable instrument sent in violation of this Act from being either reported to or received by any consumer reporting agency, or from being included in any consumer report.

deceptive loan check elimination act amends truth lending act tila prohibit person extending consumer credit use consumer check negotiable instrument sent creditor solicit extension consumer credit consumer requested writing states instrument appearance negotiable instrument connection solicitation extension credit application request purposes act shields consumer liability principal negotiable instrument sent violation act interest fee penalty charged connection negotiable instrument prohibits information relating liability consumer alleged creditor established negotiable instrument sent violation act reported received consumer reporting agency included consumer report


Summary:
Responsible Homeowner Refinancing Act of 2013 - Requires the Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac) (government sponsored enterprises or GSEs), in carrying out the Home Affordable Refinance Program, to adopt specified criteria pertaining to: (1) borrower eligibility, (2) representations and warranties, (3) prohibition on up-front fees, (4) alternative streamlined methods to determine the value of a property, (5) the purchase or guarantee of any new mortgage resulting from the refinancing of an eligible mortgage, and (6) guarantee fees.

Requires the GSEs to notify all borrowers with a mortgage owned or guaranteed by a GSE about the Program and its eligibility criteria, and inform borrowers of the website required below.

Directs the Director of the Federal Housing Finance Agency (FHFA) to establish a single website where borrowers may: (1) determine their potential eligibility for participation in the Program, (2) see a complete list of and links to qualified lenders, (3) use a mortgage refinance calculator to calculate potential payment savings based on different interest rates, and (4) obtain tips on refinancing their loan.

Directs the Director of FHFA to issue guidance to require the GSEs to make their refinancing guidelines consistent to ease the compliance requirements of qualified lenders, and in particular with respect to loans with less than 80% loan-to-value ratio and closing cost policies of the GSEs, which regulations or guidance shall be put into effect not later than 90 days after the enactment of this Acts.

responsible homeowner refinancing act requires federal_national_mortgage_association fannie_mae federal_home_loan_mortgage_corporation freddie_mac government sponsored enterprises gses carrying home_affordable_refinance_program adopt specified criteria pertaining borrower eligibility representations warranties prohibition fees alternative streamlined methods determine value property purchase guarantee new mortgage resulting refinancing eligible mortgage guarantee fees requires gses notify borrowers mortgage owned guaranteed gse program eligibility criteria inform borrowers website required directs director federal_housing_finance_agency fhfa establish single website borrowers determine potential eligibility participation program complete list links qualified lenders use mortgage refinance calculator calculate potential payment savings based different interest rates obtain tips refinancing loan directs director fhfa issue guidance require gses refinancing guidelines consistent ease compliance requirements qualified lenders particular respect loans loan value ratio closing cost policies gses regulations guidance shall effect later days enactment acts


Summary:
Prompt Notification of Short Sales Act - Requires each servicer of a home mortgage to provide in writing to a mortgagor of a residential mortgage loan specified prompt notifications and decisions regarding a written request of the mortgagor for a short sale of the dwelling or residential real property that is subject to the mortgage, deed of trust, or other security interest securing the mortgage loan.

Authorizes an aggrieved individual to bring a civil action for equitable relief and a monetary award of $1,000 for any violation of this Act.

Declares this Act inapplicable to certain residential mortgages entered into before its enactment whose mortgage agreements explicitly provide a procedure or terms for a short sale approval

prompt notification short sales act requires servicer home mortgage provide writing mortgagor residential mortgage loan specified prompt notifications decisions written request mortgagor short sale dwelling residential real property subject mortgage deed trust security interest securing mortgage loan authorizes aggrieved individual bring civil action equitable relief monetary award violation act declares act inapplicable certain residential mortgages entered enactment mortgage agreements explicitly provide procedure terms short sale approval


Summary:
Fair Access to Credit Scores Act of 2013 - Amends the Fair Credit Reporting Act to require certain consumer reporting agencies to disclose, without charge, as part of a consumer's free annual disclosure upon request, a current credit score generated using the scoring methodology most frequently used to generate scores sold to creditors, including information regarding other risk scores or predictors in the consumer's file.

Requires the agencies also to furnish such other consumer information as the Consumer Financial Protection Bureau (CFPB) considers appropriate with respect to consumer financial education, including where the consumer's credit score falls with respect to a range of possible credit scores, and the general factors contributing to the credit scores of consumers.

Requires such agencies, upon consumer request for either a credit score or a risk score, to supply any such score in the consumer's file at the agency.

Requires the agencies to maintain credit scores or other risk scores or predictors in the consumer's file for at least one year after the data is generated.

Directs the CFPB to develop regulations establishing a mandatory format for consumer file disclosures.

fair_access_to_credit_scores_act amends fair credit reporting act require certain consumer reporting agencies disclose charge consumer free annual disclosure request current credit score generated scoring methodology frequently generate scores sold creditors including information risk scores predictors consumer file requires agencies furnish consumer information consumer_financial_protection_bureau cfpb considers appropriate respect consumer financial education including consumer credit score falls respect range possible credit scores general factors contributing credit scores consumers requires agencies consumer request credit score risk score supply score consumer file agency requires agencies maintain credit scores risk scores predictors consumer file year data generated directs cfpb develop regulations establishing mandatory format consumer file disclosures


Summary:
National Association of Registered Agents and Brokers Reform Act of 2013 - (Sec. 2) Amends the Gramm-Leach-Bliley Act to repeal the contingent conditions under which the National Association of Registered Agents and Brokers (NARAB) shall not be established. Establishes the NARAB without contingent conditions as an independent nonprofit corporation to prescribe, on a multi-state basis, licensing and insurance producer qualification requirements and conditions.

Prohibits NARAB from merging with or into any other private or public entity.

Requires the NARAB, without affecting state regulatory authority, to provide a mechanism for the adoption and multi-state application of requirements and conditions pertaining to: (1) licensing, continuing education, and other qualifications of non-NARAB insurance producers; (2) resident or nonresident insurance producer appointments; (3) supervision and disciplining of such producers; and (4) the setting of licensing fees for insurance producers.

Makes any state-licensed insurance producer eligible to join the NARAB, except during a period of license suspension or revocation. Requires an individual insurance producer to undergo a criminal history record check by the Federal Bureau of Investigation (FBI). Requires the NARAB to submit to the FBI identification information obtained from the insurance producer, upon producer request, as well as a request of its own for the criminal history record check.

Authorizes the NARAB to: (1) establish membership criteria; and (2) deny membership to an individual state-licensed insurance producer on the basis of the criminal history information obtained, or where the producer has been subject to certain disciplinary action.

Prescribes procedures governing a criminal history record check, including the rights of applicants denied membership.

Authorizes NARAB to establish membership criteria, including separate classes of membership and membership criteria for business entities; but prohibits it from establishing criteria that unfairly limit the ability of a small insurance producer to become a member of NARAB, including discriminatory membership fees.

Authorizes NARAB to establish separate categories of membership for insurance producers and for other persons or entities within each class, based on the types of licensing categories that exist under state laws.

Prohibits NARAB from establishing special categories of membership, including distinct membership criteria for members that are depository institutions or for their employees, agents, or affiliates.

Prohibits NARAB from adopting any qualification less protective to the public than that contained in the National Association of Insurance Commissioners (NAIC) Producer Licensing Model Act.

Prescribes procedures for authorized information sharing pursuant to a request by a licensed insurance producer.

Authorizes the NARAB to deny membership to any state-licensed insurance producer for failure to meet membership criteria.

States that NARAB membership authorizes an insurance producer to engage in the business of insurance in any state for any lines of insurance specified in the producer's home state license, including claims adjustments and settlement, risk management, and specified insurance-related consulting activities.

Makes NARAB membership equivalent to a nonresident insurance producer license for specified purposes.

Empowers NARAB to act as agent for any member for the purpose of remitting licensing fees to a state.

Requires NARAB to disclose to states, including state insurance regulators and the NAIC, on an ongoing basis, a list of the states in which each member is authorized to operate.

Retains state regulatory jurisdiction regarding: (1) consumer protection and market conduct, and (2) state disciplinary authority.

Requires NARAB to establish, as a condition of membership, continuing education requirements comparable to the continuing education requirements under the licensing laws of a majority of the states.

Prohibits NARAB from offering continuing education courses for insurance producers.

Grants NARAB disciplinary enforcement powers.

Requires NARAB to: (1) receive and investigate consumer complaints, and to maintain a toll-free telephone number; and (2) refer any such complaint to the state insurance regulator. Prescribes information- sharing procedures and limitations with the NAIC or governmental entities.

Authorizes NARAB to establish: (1) a central clearinghouse, or utilize NAIC as one, through which NARAB members may disclose their intent to operate in one or more states; and (2) a database, or utilize NAIC as one, for the collection of regulatory information concerning the activities of insurance producers.

Establishes the NARAB board of directors, whose membership shall include state insurance commissioners. Sets forth terms and procedures for appointment of members by the President. Authorizes reappointment to successive terms. Prohibits compensation on account of Board membership.

Declares that NARAB shall not be deemed to be an insurer or insurance producer within the meaning of any state law, rule, regulation, or order regulating or taxing insurers, insurance producers, or other entities engaged in the business of insurance.

Sets forth procedures for presidential oversight of NARAB, including removal of the entire existing Board.

Sets forth a limited preemption of state laws purporting to regulate insurance producers.

Directs NARAB to coordinate with the Financial Industry Regulatory Authority (FINRA) in order to ease administrative burdens that fall on NARAB members subject to regulation by FINRA.

Authorizes any person aggrieved by a NARAB decision or action to commence a civil action in an appropriate federal district court.

Prohibits federal funding of NARAB.

sec amends gramm leach bliley act repeal contingent conditions national_association_of_registered_agents_and_brokers narab shall established establishes narab contingent conditions independent nonprofit corporation prescribe multi state basis licensing insurance producer qualification requirements conditions prohibits narab merging private public entity requires narab affecting state regulatory authority provide mechanism adoption multi state application requirements conditions pertaining licensing continuing education qualifications non narab insurance producers resident nonresident insurance producer appointments supervision disciplining producers setting licensing fees insurance producers makes state licensed insurance producer eligible join narab period license suspension revocation requires individual insurance producer undergo criminal history record check federal_bureau_of_investigation fbi requires narab submit fbi identification information obtained insurance producer producer request request criminal history record check authorizes narab establish membership criteria deny membership individual state licensed insurance producer basis criminal history information obtained producer subject certain disciplinary action prescribes procedures governing criminal history record check including rights applicants denied membership authorizes narab establish membership criteria including separate classes membership membership criteria business entities prohibits establishing criteria unfairly limit ability small insurance producer member narab including discriminatory membership fees authorizes narab establish separate categories membership insurance producers persons entities class based types licensing categories exist state laws prohibits narab establishing special categories membership including distinct membership criteria members depository institutions employees agents affiliates prohibits narab adopting qualification protective public contained national_association_of_insurance_commissioners naic producer licensing model act prescribes procedures authorized information sharing pursuant request licensed insurance producer authorizes narab deny membership state licensed insurance producer failure meet membership criteria states narab membership authorizes insurance producer engage business insurance state lines insurance specified producer home state license including claims adjustments settlement risk management specified insurance related consulting activities makes narab membership equivalent nonresident insurance producer license specified purposes empowers narab act agent member purpose remitting licensing fees state requires narab disclose states including state insurance regulators naic ongoing basis list states member authorized operate retains state regulatory jurisdiction consumer protection market conduct state disciplinary authority requires narab establish condition membership continuing education requirements comparable continuing education requirements licensing laws majority states prohibits narab offering continuing education courses insurance producers disciplinary enforcement powers requires narab receive investigate consumer complaints maintain toll free telephone number refer complaint state insurance regulator prescribes sharing procedures limitations naic governmental entities authorizes narab establish central clearinghouse utilize naic narab members disclose intent operate states database utilize naic collection regulatory information concerning activities insurance producers establishes narab board directors membership shall include state insurance commissioners sets forth terms procedures appointment members president authorizes reappointment successive terms prohibits compensation account board membership declares narab shall deemed insurer insurance producer meaning state law rule regulation order regulating taxing insurers insurance producers entities engaged business insurance sets forth procedures presidential oversight narab including removal entire existing board sets forth limited preemption state laws purporting regulate insurance producers directs narab coordinate financial_industry_regulatory_authority finra order ease administrative burdens fall narab members subject regulation finra authorizes person aggrieved narab decision action commence civil action appropriate federal district court prohibits federal funding narab


Summary:
Jumpstart GSE Reform Act - Prohibits the use of an increase in the guarantee fee required to be charged by the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), or any affiliate of such organizations (enterprises) to offset an increase in outlays or a reduction in revenues for any purposes other than those related to the enterprises' business functions under: (1) the congressional budget, (2) the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act), or (3) the Statutory Pay-As-You-Act 2010.

Prohibits the Secretary of the Treasury from selling, transferring, relinquishing, liquidating, divesting, or otherwise disposing of any outstanding shares of senior preferred stock acquired pursuant to a specified Senior Preferred Stock Purchase Agreement between the Department of the Treasury and an enterprise until Congress has passed and the President has signed into law legislation that includes a specific instruction to the Secretary regarding the sale, transfer, relinquishment, liquidation, divestiture, or other disposition of the senior preferred stock so acquired.

use increase guarantee fee required charged federal_national_mortgage_association fannie_mae federal_home_loan_mortgage_corporation freddie_mac affiliate organizations enterprises offset increase outlays reduction revenues purposes related enterprises business functions congressional budget balanced_budget emergency deficit control act gramm rudman hollings act statutory pay act prohibits secretary treasury selling transferring relinquishing liquidating divesting disposing outstanding shares senior preferred stock acquired pursuant specified department_of_the_treasury enterprise congress passed president signed law legislation includes specific instruction secretary sale transfer relinquishment liquidation divestiture disposition senior preferred stock acquired


Summary:
Protecting Consumers from Unreasonable Credit Rates Act of 2013 - Amends the Truth in Lending Act to prohibit a creditor from extending credit to a consumer under an open end consumer credit plan (credit card) for which the fee and interest rate exceeds 36%.

Sets forth criminal penalties for violations of this Act. Empowers state Attorneys General to enforce this Act.

Revises requirements for a periodic statement for each billing cycle with respect to where the total finance charge exceeds 50 cents for a monthly or longer billing cycle, or the pro rata part of 50 cents for a billing cycle shorter than monthly. Requires inclusion of the fee and interest rate, displayed as "FAIR," instead of the total finance charge expressed as an annual percentage rate (APR).

protecting_consumers unreasonable credit rates act amends truth lending act prohibit creditor extending credit consumer open end consumer credit plan credit card fee interest rate exceeds sets forth criminal penalties violations act empowers state attorneys general enforce act revises requirements periodic statement billing cycle respect total finance charge exceeds cents monthly longer billing cycle pro rata cents billing cycle shorter monthly requires inclusion fee interest rate displayed fair instead total finance charge expressed annual percentage rate apr


Summary: Amends the Internal Revenue Code to make permanent the tax deduction for mortgage insurance premiums.

amends internal revenue code permanent tax deduction mortgage insurance premiums


Summary:
Consumer Mortgage Choice Act - Amends the Truth in Lending Act with respect to requirements for disclosure to a consumer of points and fees information about a consumer credit transaction, secured by the consumer's principal dwelling, but which is not a residential mortgage transaction, a reverse mortgage transaction, or a transaction under an open end credit plan, when the total points and fees the consumer must pay at or before closing will exceed 8% percent of the total loan amount or $400, whichever is greater. (Such consumer credit transactions might include an equity credit line to which consumer purchases or leases may be charged.)

Excludes from the computation of such points and fees: (1) any compensation paid by a mortgage originator or a creditor to an individual person employed by the mortgage originator or creditor, and (2) any escrow for future payment of insurance.

Modifies the inclusion in the computation of points and fees of all compensation paid to mortgage brokers. Specifies instead all compensation paid directly by a consumer to a mortgage originator, including a mortgage originator that is also the creditor in a table-funded transaction, but not including compensation paid by a mortgage originator or a creditor to an individual employed by the mortgage originator or creditor.

Modifies the criteria for exclusion from the computation of points and fees of certain reasonable charges elsewhere exempted from the computation of the finance charge in extensions of credit secured by an interest in real property. Excludes from points and fees any such reasonable charges even though a creditor receives compensation, but only in so far as the creditor or its affiliate retains the compensation as a result of their participation in an affiliated business arrangement.

(An "affiliated business arrangement" is one in which: (1) a person who is in a position to refer business incident to or a part of a real estate settlement service involving a federally related mortgage loan, or an associate of such person, has either an affiliate relationship with or a direct or beneficial ownership interest of more than 1% in a provider of settlement services; and (2) either of such persons directly or indirectly refers such business to that provider or affirmatively influences the provider's selection.)

Revises the additional requirement that such a reasonable charge be paid to a third party unaffiliated with the creditor. Requires the charge to be: (1) a bona fide third party charge not retained by the mortgage originator, creditor, or an affiliate; or (2) a fee or premium for title examination, title insurance, or similar purposes.

Modifies the conditions under which federal departments and agencies may exempt refinancings under a streamlined refinancing from an income verification requirement that, at the time a refinancing is consummated, the consumer has a reasonable ability to repay the loan and all applicable taxes, insurance, and assessments. Repeals the exception for bona fide third party charges not retained by the mortgage originator, creditor, or an affiliate from the requirement that total points and fees not exceed 3% of the total new loan amount. (Thus subjects such charges to the same 3% ceiling.)

consumer mortgage choice act amends truth lending act respect requirements disclosure consumer points fees information consumer credit transaction secured consumer principal dwelling residential mortgage transaction reverse mortgage transaction transaction open end credit plan total points fees consumer pay closing exceed percent total loan whichever greater consumer credit transactions include equity credit line consumer purchases leases charged excludes computation points fees compensation paid mortgage originator creditor individual person employed mortgage originator creditor escrow future payment insurance modifies inclusion computation points fees compensation paid mortgage brokers specifies instead compensation paid directly consumer mortgage originator including mortgage originator creditor table funded transaction including compensation paid mortgage originator creditor individual employed mortgage originator creditor modifies criteria exclusion computation points fees certain reasonable charges exempted computation finance charge extensions credit secured interest real property excludes points fees reasonable charges creditor receives compensation far creditor affiliate retains compensation result participation affiliated business arrangement affiliated business arrangement person position refer business incident real estate settlement service involving federally related mortgage loan associate person affiliate relationship direct beneficial ownership interest provider settlement services persons directly indirectly refers business provider affirmatively influences provider selection revises additional requirement reasonable charge paid party unaffiliated creditor requires charge bona fide party charge retained mortgage originator creditor affiliate fee premium title examination title insurance similar purposes modifies conditions federal departments agencies exempt refinancings streamlined refinancing income verification requirement time refinancing consummated consumer reasonable ability repay loan applicable taxes insurance assessments repeals exception bona fide party charges retained mortgage originator creditor affiliate requirement total points fees exceed total new loan subjects charges ceiling