To amend the Truth in Lending Act and the Real Estate Settlement Procedures Act of 1974 to establish language access requirements for creditors and servicers, 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 and the Real Estate Settlement Procedures Act of 1974 to establish language access requirements for creditors and servicers, and for other purposes., changes federal law or congressional policy affecting homeowners, renters, builders, and housing agencies. The main policy domain is Housing, Finance, Government Operations.
Who Benefits and How
homeowners, renters, builders, and housing agencies 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, homeowners, renters, builders, and housing agencies may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section S1: 1. Short title This Act may be cited as the Improving Language Access in Mortgage Servicing Act of 2024.
- Section idb3c070cf195e444f9cb3de7c287ed861: 2. Findings Congress finds the following: Housing is the largest portion of most household budgets in the United States and therefore a foundational component...
- Section idf5a822ab38e1483daad13584c2c49434: 3. Definitions In this Act: The term creditor— has the meaning given the term in section 103 of the Truth in Lending Act (15 U.S.C. 1602); and includes any...
- Section ided51aca6e0ea4249acf9467416f2d422: 4. Language access requirements and resources Chapter 2 of title I of the Truth in Lending Act (15 U.S.C. 1631 et seq.) is amended by inserting after section...
- Section H7497E03337EE4A48AB492E4F7AEB0E56: 129I. Language access requirements Not later than 90 days after the date of the enactment of this section, the Director of the Bureau shall, after consulting...
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 and the Real Estate Settlement Procedures Act of 1974 to establish language access requirements for creditors and servicers, and for other purposes., changes federal law or congressional policy affecting homeowners, renters, builders, and housing agencies.
Key Policy Areas
Housing, Finance, Government Operations
Primary Purpose
This bill, To amend the Truth in Lending Act and the Real Estate Settlement Procedures Act of 1974 to establish language access requirements for creditors and servicers, and for other purposes., changes federal law or congressional policy affecting homeowners, renters, builders, and housing agencies.
Policy Domains
Whole bill
Identified Gains
- homeowners, renters, builders, and housing agencies
Identified Costs
- federal implementing agencies
- homeowners, renters, builders, and housing agencies
Sponsors
Legislative Progress
IntroducedMs. Butler (for herself, Ms. Warren, and Ms. Hirono) introduced …
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?
- "secretary_of_agriculture"
- → Secretary of Agriculture
- "secretary_of_housing_and_urban_development"
- → Secretary of Housing and Urban Development
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