- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
House Committee on Financial ServicesIntroducedJune 10th, 2009
- house Committees
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Promoting Mortgage Responsibility Act
To amend the Truth in Lending Act to prohibit prepayment penalties, and for other purposes.
Promoting Mortgage Responsibility Act - Amends the Truth in Lending Act to prohibit prepayment fees or penalties under any consumer credit transaction secured by the consumer's owner-occupied principal dwelling. Makes any prepayment penalty in violation of this prohibition unenforceable.