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- S.911
S.911: Promoting Mortgage Responsibility Act
About This Bill
- This bill was introduced in the 111th Congress
- This bill is primarily about finance and financial sector
- Introduced April 28, 2009
- Latest Major Action April 28, 2009
Bill Sponsor
Bill 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.
(Source: Library of Congress)
Bill Actions
| Date | Description |
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Sponsor introductory remarks on measure.
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Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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| April 28, 2009 |
Introduced in the Senate by Jeff Merkley (D-Ore.) |