US Congress House Bill 4643 (Prior Session Legislation)

---

Spectrum: Partisan Bill (Democrat 23-1)
Status: Introduced on May 9 2014 - 25% progression, died in committee
Action: 2014-05-09 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

Bereaved Borrowers' Bill of Rights Act of 2014 - Amends the Truth in Lending Act to require a private educational lender to include in a private education loan for which the cosigner is jointly liable a process for releasing the cosigner from obligations on such loan. Requires a lender who receives notification of the death or bankruptcy of a cosigner who is jointly liable for the loan to notify the borrower about the borrower's rights under the loan agreement regarding: (1) release of the cosigner, and (2) identification of a new cosigner or refinancing of the loan. Amends the Fair Credit Reporting Act to prohibit: (1) consumer reporting agencies from containing in any consumer report default on a private education loan that results from accelerated repayment terms of the loan after the death or bankruptcy of a jointly liable cosigner, and (2) the lender or servicer of a private educational loan from furnishing loan information to a consumer reporting agency if the consumer defaulted on the loan due to accelerated repayment terms after the death or bankruptcy of such a cosigner.

Bereaved Borrowers' Bill of Rights Act of 2014

Rep. Rick Larsen [D-WA]	Rep. Corrine Brown [D-FL]	Rep. G. Butterfield [D-NC]	Rep. Andre Carson [D-IN]
Rep. Kathy Castor [D-FL]	Rep. Steve Cohen [D-TN]	Rep. John Conyers [D-MI]	Rep. Rosa DeLauro [D-CT]
Rep. Suzan DelBene [D-WA]	Rep. William Enyart [D-IL]	Rep. Denny Heck [D-WA]	Rep. Sheila Jackson-Lee [D-TX]
Rep. Barbara Lee [D-CA]	Rep. Gregory Meeks [D-NY]	Rep. James Moran [D-VA]	Rep. Eleanor Norton [D-DC]
Rep. Ed Perlmutter [D-CO]	Rep. Pedro Pierluisi [N-PR]	Rep. Charles Rangel [D-NY]	Rep. Bobby Rush [D-IL]
Rep. Bradley Schneider [D-IL]	Rep. Niki Tsongas [D-MA]	Sen. Peter Welch [D-VT]	Rep. Frederica Wilson [D-FL]

Date	Chamber	Action
2014-05-09	House	Referred to the House Committee on Financial Services.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/house-bill/4643/all-info
Text	https://www.congress.gov/113/bills/hr4643/BILLS-113hr4643ih.pdf