To require creditors to establish a phone line to assist obligors who are 50 years of age and older to resolve billing errors, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To require creditors to establish a phone line to assist obligors who are 50 years of age and older to resolve billing errors, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Transportation, Immigration.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section H88D27415E5634086BA34F57AADDDB8EE: 1. Short title This Act may be cited as the Reporting Instances of Non-authorized Grift Act of 2023 or the RING Act of 2023.
- Section H0B1BA0A5EA4449BABC613B8725B06AF4: 2. Billing error assistance Section 161 of the Truth in Lending Act (15 U.S.C. 1666) is amended by adding at the end the following: (f)Billing error assistance...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To require creditors to establish a phone line to assist obligors who are 50 years of age and older to resolve billing errors, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Transportation, Immigration
Primary Purpose
This bill, To require creditors to establish a phone line to assist obligors who are 50 years of age and older to resolve billing errors, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Sponsors
Legislative Progress
IntroducedMr. Mfume (for himself, Mr. Gottheimer, Mr. Fitzpatrick, Mr. Trone, …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "federal_implementing_agencies"
- → Federal agencies assigned duties by the bill
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology