Economic Growth, Regulatory Relief, and Consumer Protection Act
Sponsor: Mike Crapo (R-ID)
Economic Growth, Regulatory Relief, and Consumer Protection Act TITLE I--IMPROVING CONSUMER ACCESS TO MORTGAGE CREDIT (Sec. 101) This bill amends the Truth in Lending Act (TILA) to allow a depository institution or credit union with assets below a specified threshold to forgo certain ability-to-pay requirements regarding residential mortgage loans. Specifically, those requirements are waived if a loan: (1) is originated by and retained by the institution, (2) complies with requirements regarding prepayment penalties and points and fees, and (3) does not have negative amortization or interest-only terms.
Finance and Financial Sector Topic assigned by the Congressional Research Service.
Who won, and how much of the country was behind them
The dotted gap is 1.4% of U.S. adults whose member did not vote, voted “present,” or whose seat was vacant.
| Side | Outcome | Votes | Share of U.S. adults |
|---|---|---|---|
| Yea | Won | 67 | 56.8% |
| Nay | Lost | 31 | 41.8% |
| Not represented on this question | No position taken | 0 | 1.4% |