,i  #aah? ,,congress  #b;d ,session  ,h4
 ,r4 #hcef  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,may #aj1 #bjbd,mrs4  
,kim ( ,cali=nia introduc$ ! foll[+     
bill2 :i* 0 ref]r$ to ! ,committee on   
,f9ancial ,s]vices  ,a ,,bill  ,to am5d 
! ,tru? 9 ,l5d+ ,act to provide = a safe
 h>bor = small-doll> cr$it products1 & =
 o!r purposes4  #a4 ,%ort title ,?is    
,act may be cit$ z ! ,small ,doll> ,loan
 ,c]ta9ty ,act4  #b4 ,safe h>bor =      
small-doll> cr$it products  7a7 ,9 g5]al
 ,! ,tru? 9 ,l5d+ ,act 7#ae ,u4,s4,c4   
#afja et seq47 is am5d$ by ins]t+ aft]  
section #aji ! foll[+3  #aaj4 ,safe     
h>bor = small-doll> cr$it products  7a7 
,9 g5]al ,if a cov]$ entity complies ) !
 requirem5ts set =? 9 subsections 7b71  
7c71 & 7e7 ) respect to ! (f]+ ( a      
small-doll> product to a consum]1 su*   
cov]$ entity %all n be liable 9         
connection ) su* (f]+ ( a small-doll>   
product1 =-- 7#a7 any civil money       
p5alties f any en=cem5t action br\ght by
 ! ,bureau1 ! appropriate ,f$]al bank+  

ag5cy1 or ! ,national ,cr$it ,union     
,adm9i/ration = a violation ( ?is title2
 or  7#b7 any damages or o!r monet>y    
relief ?r\gh a private "r ( action      
br\ght "u ?is title4  7b7 ,product      
/ructure requirem5ts  7#a7 ,9 ! case (  
an in/allm5t loan ,if a small-doll>     
cr$it product is /ructur$ by a cov]$    
entity z an in/allm5t loan-- 7,a7 !     
repaym5t t]m %all be m ?an #de days2    
7,b7 paym5ts %all be fully amortiz$     
across m ?an "o paym5t2  7,c7 rollov]s  
into new small-doll> cr$it products %all
 be prohibit$2 &  7,d7 ! cov]$ entity   
may n issue any small-doll> cr$it       
product to a consum] if su* consum] has 
a small-doll> cr$it product op5 ) su*   
cov]$ entity at ! "t su* consum] applies
 = a small-doll> cr$it product4  7#b7 ,9
 ! case ( a l9e ( cr$it ,if a           
small-doll> cr$it product is /ructur$ by
 a cov]$ entity z a l9e ( cr$it-- 7,a7 !
 repaym5t t]m = ea* draw %all be m ?an  
#de days unless a s+le paym5t is us$ & !
 draw is n m ?an #aj p]c5t ( ! less] (  

#c1ejj or #bj p]c5t ( ! total am\nt ( a 
consum]'s av]age mon?ly direct deposits 
dur+ ! prec$+ six mon?s2 &  7,b7 paym5ts
 = ea* draw %all be fully amortiz$      
across m ?an "o paym5t1 except 9 ! case 
( any s+le-paym5t loans4  7#c7 ,rules ( 
con/ruction  7,a7 ,9 g5]al ,no?+ 9 ?is  
subsection may be con/ru$ to prohibit ! 
,bureau1 a ,f$]al bank+ ag5cy1 or !     
,national ,cr$it ,union ,adm9i/ration f 
issu+ a cease-&-desi/ ord] or re/itution
 ord] "u ?is title aga9/ a cov]$ entity4
  7,b7 ,en=cem5t ( o!r /atutes ,no?+ 9  
?is subsection may be con/ru$ to        
prohibit ! ,bureau1 a ,f$]al bank+      
ag5cy1 or ! ,national ,cr$it ,union     
,adm9i/ration f en=c+ any provision (   
law n conta9$ )9 ?is title aga9/ a cov]$
 entity4  7c7 ,und]writ+ requirem5ts ,:5
 consid]+ :e!r to (f] a small-doll>     
cr$it product to a specific consum]1 a  
cov]$ entity-- 7#a7 %all use s\nd       
und]writ+ processes2 &  7#b7 may analyze
 int]nal or ext]nal data s\rces1 includ+
 consum] deposit acc\nt activity1 to    

assess ! cr$itwor?9ess ( a consum]4  7d7
 ,rule ( con/ruction ,no?+ 9 ?is title  
may be con/ru$ to prohibit a cov]$      
entity f (f]+ a small-doll> product t   
does n comply ) ! safe h>bor requirem5ts
 set =? "u ?is section4  7e7 ,additional
 limitations & requirem5ts  7#a7        
,balloon paym5ts ,no paym5t requir$ 9   
association ) a small-doll> cr$it       
product (f]$ by a cov]$ entity may be   
great] ?an d\ble ! am\nt ( any o!r      
paym5t requir$ 9 association ) su*      
product4  7#b7 ,disclosures ,ea* cov]$  
entity t (f]s a small-doll> cr$it       
product %all comply ) all disclosure    
requirem5ts set =? by ?is title4  7#c7  
,p5alties & fees ,a cov]$ entity may n  
impose any prepaym5t p5alty1 ov]draft   
fee1 or nonsuffici5t funds fee 9        
connection ) a small-doll> cr$it        
product4  7#d7 ,transf] ( am\nts ,am\nts
 made available to a consum] ?r\gh a    
small-doll> cr$it product (f]$ by a     
cov]$ entity %all be disburs$ to !      
acc\nt ( su* consum] by su* cov]$ entity

 n lat] ?an #e days aft] ! approval ( ! 
consum] = ! small-doll> cr$it product4  
7f7 ,def9itions ,9 ?is section3 7#a7    
,cov]$ entity ,! t]m cov]$ entity       
means-- 7,a7 an insur$ depository       
in/itution2  7,b7 an insur$ cr$it union2
  7,c7 a ?ird p>ty ) :om an insur$      
depository in/itution has contract$ =   
products or s]vices relat$ to           
orig9ation1 s]vic+1 or adm9i/rative     
managem5t ( a small-doll> cr$it product2
 or  7,d7 a ?ird p>ty ) :om an insur$   
cr$it union has contract$ = products or 
s]vices relat$ to orig9ation1 s]vic+1 or
 adm9i/rative managem5t ( a small-doll> 
cr$it product4  7#b7 ,f$]al bank+ ag5cy 
def9itions ,! t]ms appropriate ,f$]al   
bank+ ag5cy & ,f$]al bank+ ag5cy h !    
mean+ giv5 ^? t]ms1 respectively1 9     
section #c ( ! ,f$]al ,deposit          
,insurance ,act4  7#c7 ,insur$ cr$it    
union ,! t]m insur$ cr$it union has !   
mean+ giv5 ! t]m 9 section #aja ( !     
,f$]al ,cr$it ,union ,act4  7#d7 ,insur$
 depository in/itution ,! t]m insur$    

depository in/itution has ! mean+ giv5 !
 t]m 9 section #c ( ! ,f$]al ,deposit   
,insurance ,act4  7#e7 ,small-doll>     
cr$it product ,! t]m small-doll> product
 means a loan or l9e ( cr$it ) a value (
 #c1ejj or less4  4  7b7 ,cl]ical       
am5dm5t ,! table ( cont5ts = *apt] #a ( 
! ,tru? 9 ,l5d+ ,act is am5d$ by /rik+ !
 item relat+ to section #aaj & ins]t+ ! 
foll[+3  #aaj4 ,safe h>bor = small-doll>
 cr$it products4  4