Preventing Racial Profiling in Lending Act

Bill 118 hr 1817, also known as the Preventing Racial Profiling in Lending Act, aims to address the issue of racial discrimination in lending practices. The bill was introduced in the House of Representatives on March 13, 2019 by Representative Al Green from Texas.

The main purpose of this bill is to prohibit lenders from using race, color, religion, national origin, sex, marital status, or age as a factor in determining creditworthiness. This means that lenders would not be able to deny someone a loan or charge them higher interest rates based on these characteristics.

Additionally, the bill requires lenders to collect and report data on the race, ethnicity, and gender of loan applicants. This data would be used to monitor and prevent discriminatory lending practices. The Preventing Racial Profiling in Lending Act also establishes a process for individuals to file complaints if they believe they have been discriminated against by a lender. The bill outlines the steps that must be taken to investigate these complaints and provides remedies for victims of discrimination. Overall, this bill seeks to promote fair and equal access to credit for all individuals, regardless of their race or other personal characteristics. It aims to combat racial profiling in lending practices and ensure that all Americans have the opportunity to achieve their financial goals.