,,ii  #aaf? ,,congress  #a/ ,session    
,s4 #bhcc  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,novemb] #ab1 #bjai,mr4
 ,m]kley 7= himself1 ,mr4 ,br[n1 ,mr4   
,re$1 & ,mr4 ,van ,holl57 introduc$ !   
foll[+ bill2 :i* 0 read twice & ref]r$  
to ! ,committee on ,bank+1 ,h\s+1 &     
,urban ,affairs  ,a ,,bill  ,to am5d !  
,tru? 9 ,l5d+ ,act to ext5d ! consum]   
cr$it protections provid$ to memb]s ( ! 
,arm$ ,=ces & _! dep5d5ts "u title #aj1 
,unit$ ,/ates ,code1 to all consum]s4   
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,vet]ans & ,consum]s ,fair ,cr$it     
,act4  #b4 ,limitations on consum] cr$it
 & maximum rates ( int]e/  7a7 ,9 g5]al 
,*apt] #b ( ! ,tru? 9 ,l5d+ ,act 7#ae   
,u4,s4,c4 #afca et seq47 is am5d$ by    
add+ at ! end ! foll[+3  #adj;,b4       
,limitations on consum] cr$it & maximum 
rates ( int]e/  7a7 ,application ( !    
,milit>y ,l5d+ ,act  7#a7 ,9 g5]al      
,except z provid$ 9 p>agraph 7#b71      
section #ihg7;b7 ( title #aj1 ,unit$    
,/ates ,code 7commonly ref]r$ to z !    

,milit>y ,l5d+ ,act71 %all apply to a   
cr$itor :o ext5ds consum] cr$it to a    
consum] to ! same ext5t z su* section   
applies to a cr$itor :o ext5ds consum]  
cr$it to a cov]$ memb] or a dep5d5t )   
respect to a cov]$ memb] 7z ^? t]ms are 
def9$ 9 su* section #ihg74  7#b7        
,exceptions ,p>agraph 7#a7 %all n apply 
to-- 7,a7 a resid5tial mortgage2  7,b7 a
 loan procur$ 9 ! c\rse ( pur*as+ a c>  
or o!r p]sonal prop]ty1 :5 t loan is    
(f]$ = ! express purpose ( f9anc+ !     
pur*ase & is secur$ by ! c> or p]sonal  
prop]ty procur$2 or  7,c7 a loan made by
 a ,f$]al cr$it union1 z t t]m is def9$ 
9 section #aja ( ! ,f$]al ,cr$it ,union 
,act 7#ab ,u4,s4,c4 #ageb71 subject to !
 usury limit provid$ "u section         
#ajg7e77;,a7 ( ! ,f$]al ,cr$it ,union   
,act 7#ab ,u4,s4,c4 #ageg7e77;,a771 z   
implem5t$ by ! ,national ,cr$it ,union  
,adm9i/ration ,bo>d4  7b7 ,no exemptions
 p]mitt$ ,! exemption au?ority ( !      
,bureau "u section #aje7;f7 %all n apply
 ) respect to ?is section4  7c7         

,calculation ( ! annual p]c5tage rate = 
op5-,end cr$it  7#a7 ,9 g5]al ,=        
purposes ( ?is section1 ! annual        
p]c5tage rate applicable to an op5-end  
cr$it plan %all be calculat$ "u section 
#ajg7;a77#b71 subject to adju/m5ts to ! 
am\nt consid]$ a f9ance *>ge1 z provid$ 
9 ! rules issu$ by ! ,secret>y ( ,def5se
 on ,july #bb1 #bjae1 to c>ry out       
section #ihg ( title #aj1 ,unit$ ,/ates 
,code4  7#b7 ,exception to f9ance *>ge  
calculation  7,a7 ,9 g5]al ,not)/&+     
p>agraph 7#a71 = consum] cr$it ext5d$ 9 
a cr$it c>d acc\nt "u an op5-end 7n     
home-secur$7 consum] cr$it plan1 a bona 
fide fee o!r ?an a p]iodic rate is n a  
*>ge requir$ to be includ$ )9 ! f9ance  
*>ge = purposes ( ?is section if ! fee  
is assess$ 9 compliance ) section       
#abg7n74  7,b7 ,limitation ,subp>agraph 
7,a7 %all n apply to-- 7i7 any cr$it    
insurance premium or fee1 includ+ any   
*>ge = s+le premium cr$it insurance1 any
 fee = a debt cancellation contract1 or 
any fee = a debt susp5sion agreem5t2 or 

7ii7 any fee = a cr$it-relat$ ancill>y  
product sold 9 connection ) ! cr$it c>d 
acc\nt "u an op5-end 7n home-secur$7    
consum] cr$it plan4  7d7 ,relation to   
,/ate law ,no?+ 9 ?is section may be    
con/ru$ to preempt any provision ( ,/ate
 law t provides great] protection to    
consum]s ?an is provid$ "u ?is section4 
7e7 ,p5alties & rem$ies ,section        
#ihg7;f7 ( title #aj1 ,unit$ ,/ates     
,code1 %all apply to a cr$itor :o ext5ds
 consum] cr$it to a consum] 9 violation 
( ?is section to ! same ext5t z su*     
section #ihg7;f7 applies to a cr$itor :o
 ext5ds consum] cr$it to a cov]$ memb]  
or a dep5d5t ) respect to a cov]$ memb] 
7z ^? t]ms are def9$ 9 su* section      
#ihg74  7f7 ,pres]vation ( ,/ate        
en=cem5t  7#a7 ,/ate attorneys g5]al ,n 
lat] ?an #c ye>s aft] ! date on :i* a   
violation ( ?is section occurs1 !       
attorney g5]al ( a ,/ate 7or an         
equival5t (ficial7 may br+ a civil      
action 9 ! "n ( t ,/ate--  7,a7 9 any   
di/rict c\rt ( ! ,unit$ ,/ates t is     

locat$ 9 t ,/ate or 9 a ,/ate c\rt t is 
locat$ 9 t ,/ate & t has jurisdiction   
ov] ! def5dant2 &  7,b7 to-- 7i7 en=ce  
provisions ( ?is section or rules issu$ 
"u ?is section2 &  7ii7 secure rem$ies  
"u provisions ( ?is section or rem$ies  
o!rwise provid$ "u o!r law4  7#b7 ,/ate 
regulators ,n lat] ?an #c ye>s aft] !   
date on :i* a violation ( ?is section   
occurs1 a ,/ate regulator may br+ a     
civil action or initiate ano!r          
appropriate proce$+ to--  7,a7 en=ce !  
provisions ( ?is section or regulations 
issu$ "u ?is section ) respect to any   
entity t is1 or is requir$ to be1       
,/ate-*>t]$1 incorporat$1 lic5s$1 or    
o!rwise au?oriz$ to d bus9ess "u ,/ate  
law2 &  7,b7 secure rem$ies "u          
provisions ( ?is section or rem$ies     
o!rwise provid$ "u o!r provisions ( law 
) respect to an entity describ$ 9       
subp>agraph 7,a74  7#c7 ,notice         
requirem5t2 additional regulations      
,subsections 7b71 7c71 & 7d7 ( section  
#ajdb ( ! ,consum] ,f9ancial ,protection

 ,act ( #bjaj 7#ab ,u4,s4,c4 #eeeb71    
%all apply to a civil action or o!r     
appropriate proce$+ br\ght or initiat$  
"u p>agraph 7#a7 or 7#b7 to ! same ext5t
 z ^? subsections apply to actions & o!r
 adm9i/rative & regulatory proce$+s     
describ$ 9 subsection 7a7 ( su* section 
#ajdb4  7g7 ,regulations  7#a7 ,9 g5]al 
,not)/&+ section #ajbg7o7 ( ! ,consum]  
,f9ancial ,protection ,act 7#ab         
,u4,s4,c4 #eeag7o771 n lat] ?an #a ye>  
aft] ! date ( enactm5t ( ?is section1 ! 
,bureau1 9 consultation ) ! ,secret>y ( 
,def5se1 %all--  7,a7 issue rules c>ry+ 
out ?is section2 &  7,b7 notify         
,congress & ! public1 includ+ on !      
website ( ! ,bureau1 reg>d+ ! issuance (
 ! rules requir$ "u subp>agraph 7,a74   
7#b7 ,consi/5cy ,! rules issu$ by !     
,bureau "u p>agraph 7#a7-- 7,a7 %all be 
consi/5t ) rules issu$ by ! ,secret>y ( 
,def5se to c>ry out section #ihg ( title
 #aj1 ,unit$ ,/ates ,code2 &  7,b7 may n
 provide less] protection to consum]s   
?an ! protection af=d$ cov]$ memb]s1 z t

 t]m is def9$ 9 section #ihg ( title    
#aj1 ,unit$ ,/ates ,code1 9 applicable  
provisions 9 ! rules issu$ by !         
,secret>y ( ,def5se on ,july #bb1 #bjae1
 to c>ry out su* section #ihg4  4  7b7  
,cl]ical am5dm5t ,! table ( cont5ts =   
*apt] #b ( ! ,tru? 9 ,l5d+ ,act is am5d$
 by add+ at ! end ! foll[+3  #adj;,b4   
,limitations on consum] cr$it & maximum 
rates ( int]e/4  4  7c7 ,applicability  
,! am5dm5ts made by subsection 7a7 %all 
apply to an ext5sion ( cr$it made aft] !
 e>li] (--  7#a7 ! date on :i* ! rules  
issu$ by ! ,bureau ( ,consum] ,f9ancial 
,protection "u subsection 7g7 ( section 
#adj;,b ( ! ,tru? 9 ,l5d+ ,act1 z add$  
by subsection 7a7 ( ?is section1 require
 compliance2 &  7#b7 ! date t is #ah    
mon?s aft] ! date ( enactm5t ( ?is ,act4