Helping Expand Lending Practices in Rural Communities Act

Hozzl · 2024-03-14T12:48:49Z

Explore the details of House Bill 2672 Helping Expand Lending Practices in Rural Communities Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

3/14/2024, 12:48 PM

Congressional Summary of HR 2672

Helping Expand Lending Practices in Rural Communities Act - Directs the Consumer Financial Protection Bureau (CFPB) to establish an application process under which a person who lives or does business in a state may apply to have an area in the state identified as a rural area if it has not yet been so designated by the CFPB for purposes of federal consumer financial law.

Prescribes criteria for the CFPB to consider when evaluating the application.

Requires the CFPB to: (1) grant or deny the application within 90 days after the public comment period ends; and (3) publish the grant or denial in the Federal Register, including an explanation of the factors upon which the CFPB relied in making its determination.

Sunsets this Act two years after its date of enactment.

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Current Status of Bill HR 2672

Bill HR 2672 is currently in the status of Bill Introduced since July 11, 2013. Bill HR 2672 was introduced during Congress 113 and was introduced to the House on July 11, 2013. Bill HR 2672's most recent activity was Committee on Banking, Housing, and Urban Affairs. Hearings held. as of September 16, 2014

Bipartisan Support of Bill HR 2672

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 2672

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

- Administrative remedies

- Banking and financial institutions regulation

- Consumer Financial Protection Bureau

- Consumer credit

- Rural conditions and development

Alternate Title(s) of Bill HR 2672

Helping Expand Lending Practices in Rural Communities Act

To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to provide for an application process for interested parties to apply for a county to be designated as a rural area, and for other purposes.

CFPB Rural Designation Petition and Correction Act

Helping Expand Lending Practices in Rural Communities Act

To amend the Dodd-Frank Wall Street Reform and Consumer Protection Act to provide for an application process for interested parties to apply for an area to be designated as a rural area, and for other purposes.