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- H.R.5500
H.R.5500: Foreclosure Credit Forgiveness Act of 2008
About This Bill
- This bill was introduced in the 110th Congress
- This bill is primarily about finance and financial sector
- Introduced Feb. 26, 2008
- Latest Major Action Feb. 26, 2008
Bill Sponsor
Bill Summary
Foreclosure Credit Forgiveness Act of 2008 - Amends the Fair Credit Reporting Act to prohibit the foreclosure on a subprime mortgage of a consumer from being taken into account by any person preparing or calculating the consumer's credit score. Defines "subprime mortgage" as any consumer credit transaction secured by the consumer's principal dwelling that meets criteria prescribed by the Board of Governors of the Federal Reserve System.
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
|
Referred to the House Committee on Financial Services.
|
|
| Feb. 26, 2008 |
Introduced in the House by Albert Russell Wynn (D-Md.) |