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bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      House Committee on Financial Services
    IntroducedJune 10th, 2009

Bill Details

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Title

Promoting Mortgage Responsibility Act

Official Title

To amend the Truth in Lending Act to prohibit prepayment penalties, and for other purposes.

Summary

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.