To amend the Truth in Lending Act to provide for a safe harbor for small-dollar credit products, 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 amend the Truth in Lending Act to provide for a safe harbor for small-dollar credit products, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Environment, Labor.
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 H345EBFAFE9FC412F897EA63B29B0EEE6: 1. Short title This Act may be cited as the Small Dollar Loan Certainty Act.
- Section H1D039749C7514B958D026FE607622C8A: 2. Safe harbor for small-dollar credit products The Truth in Lending Act (15 U.S.C. 1601 et seq.) is amended by inserting after section 109 the following:...
- Section H2789A90115C142819AAFB89D20F4C317: 110. Safe harbor for small-dollar credit products If a covered entity complies with the requirements set forth in subsections (b), (c), and (e) with respect to...
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 amend the Truth in Lending Act to provide for a safe harbor for small-dollar credit products, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Environment, Labor
Primary Purpose
This bill, To amend the Truth in Lending Act to provide for a safe harbor for small-dollar credit products, 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
IntroducedMrs. Kim of California introduced the following bill; which was …
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