US Congress House Bill 3850 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 25-1)
Status: Introduced on October 28 2015 - 25% progression, died in committee
Action: 2015-11-23 - Referred to the Subcommittee on Military Personnel.
Pending: House Subcommittee on Military Personnel Committee
Text: Latest bill text (Introduced) [PDF]

ASSURE Act of 2015 Annuity Safety and Security Under Reasonable Enforcement Act of 2015 Amends the Truth in Lending Act to direct the Consumer Financial Protection Bureau (CFPB) to issue regulations requiring any payment to a recipient of a federal or military pension (a benefit recipient) that diminishes the benefit recipient's ability to control payments from such pension to be treated as an extension of credit. Requires financial institutions to include the terms of such credit in consumer information disclosures. Prohibits the annual percentage rate of interest on such arrangements from exceeding the federal funds rate plus 6% or an equivalent aggregate amount of cash and property. Specifies conditions under which payment of consideration in exchange for the retired pay of enlisted military members is prohibited from assignment under veterans' benefits laws. Prohibits individuals from making allotments or assignments from annuities under the Civil Service Retirement System (CSRS) or the Federal Employees' Retirement System (FERS), including any agreement under which another person acquires for consideration the right to receive payment from such annuities as well as any arrangement for collateral for security for such an agreement. Exempts union dues or payments to employee organizations from such prohibitions. Authorizes benefit recipients, individuals entitled to military retired pay, and annuity recipients to bring a private legal action in federal or state court against an assignee engaging in prohibited assignments. Amends the Consumer Financial Protection Act of 2010 to direct the CFPB to issue regulations requiring persons offering federal or military pension-related products to provide additional disclosures when advertising or selling such products to allow consumers to understand how their pension relates to the product.

ASSURE Act of 2015 Annuity Safety and Security Under Reasonable Enforcement Act of 2015

Rep. Matthew Cartwright [D-PA]	Rep. Gerald Connolly [D-VA]	Rep. Earl Blumenauer [D-OR]	Rep. Julia Brownley [D-CA]
Rep. John Conyers [D-MI]	Rep. Elijah Cummings [D-MD]	Rep. John Delaney [D-MD]	Rep. Donna Edwards [D-MD]
Rep. Lois Frankel [D-FL]	Rep. John Garamendi [D-CA]	Rep. Sheila Jackson-Lee [D-TX]	Rep. Marcy Kaptur [D-OH]
Rep. Robin Kelly [D-IL]	Rep. Ann Kirkpatrick [D-AZ]	Rep. James Langevin [D-RI]	Rep. Michelle Lujan Grisham [D-NM]
Rep. Stephen Lynch [D-MA]	Rep. Eleanor Norton [D-DC]	Rep. Mark Pocan [D-WI]	Rep. Bennie Thompson [D-MS]
Rep. Mark Takano [D-CA]	Rep. Niki Tsongas [D-MA]	Sen. Chris Van Hollen [D-MD]	Rep. Janice Schakowsky [D-IL]
Rep. Walter Jones [R-NC]	Rep. Michael Honda [D-CA]

Date	Chamber	Action
2015-11-23	House	Referred to the Subcommittee on Military Personnel.
2015-11-06	House	Referred to the Subcommittee on Disability Assistance and Memorial Affairs.
2015-10-28	House	Referred to House Oversight and Government Reform
2015-10-28	House	Referred to House Armed Services
2015-10-28	House	Referred to House Veterans' Affairs
2015-10-28	House	Referred to House Financial Services
2015-10-28	House	Referred to the Committee on Financial Services, and in addition to the Committees on Veterans' Affairs, Armed Services, and Oversight and Government Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2015-10-28	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/house-bill/3850/all-info
Text	https://www.congress.gov/114/bills/hr3850/BILLS-114hr3850ih.pdf