Bereaved Borrowers' Bill of Rights Act of 2014
Latest action · May 9, 2014 Referred to the House Committee on Financial Services.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMay 9, 2014
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Bereaved Borrowers' Bill of Rights Act of 2014 - Amends the Truth in Lending Act to require a private educational lender to include in a private education loan for which the cosigner is jointly liable a process for releasing the cosigner from obligations on such loan.
Requires a lender who receives notification of the death or bankruptcy of a cosigner who is jointly liable for the loan to notify the borrower about the borrower's rights under the loan agreement regarding: (1) release of the cosigner, and (2) identification of a new cosigner or refinancing of the loan.
Amends the Fair Credit Reporting Act to prohibit: (1) consumer reporting agencies from containing in any consumer report default on a private education loan that results from accelerated repayment terms of the loan after the death or bankruptcy of a jointly liable cosigner, and (2) the lender or servicer of a private educational loan from furnishing loan information to a consumer reporting agency if the consumer defaulted on the loan due to accelerated repayment terms after the death or bankruptcy of such a cosigner.
Cosponsors 23
Members who signed on, in the order they did. Signatures ran from May 9, 2014 to Jun 23, 2014; 9 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-IN | André Carson | Original | May 9, 2014 |
| D-WA | Denny Heck | Original | May 9, 2014 |
| D-DC | Eleanor Holmes Norton | Original | May 9, 2014 |
| D-VA | James P. Moran | Original | May 9, 2014 |
| D-MA | Niki Tsongas | Original | May 9, 2014 |
| D-PR | Pedro R. Pierluisi | Original | May 9, 2014 |
| D-VT | Peter Welch | Original | May 9, 2014 |
| D-WA | Suzan K. DelBene | Original | May 9, 2014 |
| D-IL | William L. Enyart | Original | May 9, 2014 |
| D-FL | Corrine Brown | May 13, 2014 | |
| D-CA | Barbara Lee | May 19, 2014 | |
| D-IL | Bobby L. Rush | May 19, 2014 | |
| D-MI | John Conyers, Jr. | May 19, 2014 | |
| D-TX | Sheila Jackson Lee | May 19, 2014 | |
| D-NC | G. K. Butterfield | May 20, 2014 | |
| D-IL | Bradley Scott Schneider | May 29, 2014 | |
| D-FL | Frederica S. Wilson | May 30, 2014 | |
| D-TN | Steve Cohen | May 30, 2014 | |
| D-NY | Charles B. Rangel | Jun 17, 2014 | |
| D-CO | Ed Perlmutter | Jun 17, 2014 | |
| D-FL | Kathy Castor | Jun 17, 2014 | |
| D-NY | Gregory W. Meeks | Jun 19, 2014 | |
| D-CT | Rosa L. DeLauro | Jun 23, 2014 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred May 9, 2014 |
Actions 2
Everything that happened, newest first.
- May 9, 2014Introduced in House
- May 9, 2014Referred to the House Committee on Financial Services.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the page H4060.
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Truth in Lending Act to establish requirements for releasing a cosigner from obligations of a private education loan, for the treatment of the loan upon the death or bankruptcy of a cosigner of the loan, and for other purposes.
- Short Titles as Introduced
- Bereaved Borrowers' Bill of Rights Act of 2014
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- May 9, 2014Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
