PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Congressional Research Service
Version 00 · Introduced in House · Dec 20, 2001
Protecting Our Communities From Predatory Lending Practices Act - Amends the Truth in Lending Act to prohibit: (1) unfair or deceptive practices regarding a consumer credit transaction, extension, or servicing (including any related advertisement); and (2) false, deceptive, or misleading representations in connection with a consumer credit transaction, application, solicitation, or advertisement, or any real or personal property securing such transaction.Sets forth prohibitions relating to consumer credit transactions secured by a dwelling, including: (1) prepayment penalties; (2) creditor financing of credit insurance; (3) the practice of flipping a consumer loan or other extension of credit secured by a consumer's dwelling; (4) imposition of fees for services or products not actually provided; (5) creditor payments to home improvement contractors without consumer countersignature; (6) creditor attempts to influence an appraisal which will secure an extension of credit; (7) blank terms in a credit agreement; and (8) steering of consumers who qualify for conventional mortgages to high cost mortgages.Places "high-cost mortgages" within the ambit of the Act's protections, including prohibitions against: (1) creditor actions to encourage consumer default; (2) creditor imposition of fees for providing pay-off balances on a high-cost mortgage; (3) creditor lending related to a high-cost mortgage in the absence of certification that the consumer has received home-ownership counseling; and (4) extensions of credit without regard to consumer's payment ability.
People & committees
Rep. Waters, Maxine [D-CA-35] · D–CA
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Referred to the House Committee on Financial Services.
Sponsor introductory remarks on measure. (CR E2393-2394)
Introduced in House
Introduced in House
Primary sources
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Source last updated: Aug 19, 2025. Consult Congress.gov for the current record.
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