To require agencies to update mortgage underwriting programs, guidelines, standards, and systems to require lenders to consider, in the mortgage credit evaluation process, any amounts a borrower has in any brokerage account associated with a cryptocurrency exchange.
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 agencies to update mortgage underwriting programs, guidelines, standards, and systems to require lenders to consider, in the mortgage credit evaluation process, any amounts a borrower has in any brokerage account associated with a cryptocurrency exchange., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Housing, Veterans Affairs.
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 H110E5884FD684A3492C5D1A62EAEF4E3: 1. Short title This Act may be cited as the American Homeowner Crypto Modernization Act of 2024.
- Section H3DCB9449F7E641158463D289A5964B83: 2. Consideration of cryptocurrency exchange brokerage account amounts Not later than the expiration of the 24-month period beginning on the date of the...
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 agencies to update mortgage underwriting programs, guidelines, standards, and systems to require lenders to consider, in the mortgage credit evaluation process, any amounts a borrower has in any brokerage account associated with a cryptocurrency exchange., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Housing, Veterans Affairs
Primary Purpose
This bill, To require agencies to update mortgage underwriting programs, guidelines, standards, and systems to require lenders to consider, in the mortgage credit evaluation process, any amounts a borrower has in any brokerage account associated with a cryptocurrency exchange., 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
Nancy Mace
R-SC | Primary Sponsor
Legislative Progress
IntroducedMs. Mace (for herself and Mr. Khanna) introduced the following …
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