Continued Encouragement for Consumer Lending Act
Latest action · May 21, 2019 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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 21, 2019
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Continued Encouragement for Consumer Lending Act
This bill directs the Securities and Exchange Commission and federal financial regulators to report on the implementation of the Current Expected Credit Losses (CECL) accounting standard and its impact on credit availability, capital requirements, and financial institutions. Required compliance with the CECL standard is delayed until one year after submission of this report.
Cosponsors 20
Members who signed on, in the order they did. Signatures ran from May 21, 2019 to Mar 19, 2020; 5 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-GA | David Perdue | Original | May 21, 2019 |
| R-KS | Jerry Moran | Original | May 21, 2019 |
| R-ND | Kevin Cramer | Original | May 21, 2019 |
| R-SD | Mike Rounds | Original | May 21, 2019 |
| R-AR | Tom Cotton | Original | May 21, 2019 |
| R-AR | John Boozman | Jun 4, 2019 | |
| R-IA | Joni Ernst | Jun 10, 2019 | |
| R-TX | Ted Cruz | Jun 18, 2019 | |
| R-LA | John Kennedy | Jun 25, 2019 | |
| R-KS | Pat Roberts | Jul 16, 2019 | |
| R-MS | Cindy Hyde-Smith | Aug 1, 2019 | |
| R-PA | Patrick J. Toomey | Aug 1, 2019 | |
| R-OK | James Lankford | Sep 11, 2019 | |
| R-SD | John Thune | Sep 11, 2019 | |
| R-OK | James M. Inhofe | Sep 25, 2019 | |
| R-LA | Bill Cassidy | Oct 15, 2019 | |
| R-MO | Roy Blunt | Oct 15, 2019 | |
| R-NE | Deb Fischer | Oct 16, 2019 | |
| R-TX | John Cornyn | Feb 27, 2020 | |
| R-MT | Steve Daines | Mar 19, 2020 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Banking, Housing, and Urban Affairs Committee | Referred May 21, 2019 |
Actions 2
Everything that happened, newest first.
- May 21, 2019Introduced in Senate
- May 21, 2019Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 3182 | CECL Consumer Impact and Study Bill of 2019 | Related bill | Jun 28, 2019 |
| HR 6396 | Responsible Relief for Americans Act | Related bill | Sep 30, 2020 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to require the Securities and Exchange Commission and certain Federal agencies to carry out a study relating to accounting standards, and for other purposes.
- Short Title(s) as Introduced
- Continued Encouragement for Consumer Lending Act
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
- Accounting and auditing
- Administrative law and regulatory procedures
- Bank accounts, deposits, capital
- Banking and financial institutions regulation
- Business investment and capital
- Competition and antitrust
- Competitiveness, trade promotion, trade deficits
- Congressional oversight
- Consumer credit
- Economic performance and conditions
- Finance and Financial Sector
- Financial services and investments
- Government studies and investigations
- Securities and Exchange Commission (SEC)
- Small business
Text 1
Each version as it was printed, newest first.
- May 21, 2019Introduced in Senate
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.
