H.R. 2547 - Comprehensive Debt Collection Improvement Act

Bill Text

    Text of H.R. 2547 PDF XML

    (as reported)

    H. Rept. 117-23 PDF

    Report from the Committee on Financial Services to accompany H.R. 2547

Rule Information

COMMITTEE ACTION:
REPORTED BY A RECORD VOTE of 8-4 on Tuesday, May 11, 2021.

MANAGERS: Perlmutter/Reschenthaler

1. Structured rule for H.R. 2547.
2. Provides one hour of general debate equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services or their designees.
3. Waives all points of order against consideration of the bill.
4. Provides that the amendment in the nature of a substitute recommended by the Committee on Financial Services now printed in the bill, modified by the amendment printed in part A of the Rules Committee report, shall be considered as adopted and the bill, as amended, shall be considered as read.
5. Waives all points of order against provisions in the bill, as amended.
6. Provides that following debate, each further amendment printed in part B of the Rules Committee report not earlier considered as part of amendments en bloc pursuant to section 3 shall be considered only in the order printed in the report, may be offered only by a Member designated in the report, shall be considered as read, shall be debatable for the time specified in the report equally divided and controlled by the proponent and an opponent, may be withdrawn by the proponent at any time before the question is put thereon, shall not be subject to amendment, and shall not be subject to a demand for division of the question.
7. Provides that at any time after debate the chair of the Committee on Financial Services or her designee may offer amendments en bloc consisting of further amendments printed in part B of the Rules Committee report not earlier disposed of. Amendments en bloc shall be considered as read, shall be debatable for 20 minutes equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services or their designees, shall not be subject to amendment, and shall not be subject to a demand for division of the question.
8. Waives all points of order against the amendments printed in part B of the Rules Committee Report or amendments en bloc described in section 3 of the resolution.
9. Provides one motion to recommit.

10. Closed rule for H.R. 1065.
11. Provides one hour of general debate equally divided and controlled by the chair and ranking minority member of the Committee on Education and Labor or their designees.
12. Waives all points of order against consideration of the bill.
13. Provides that the amendment in the nature of a substitute recommended by the Committee on Education and Labor now printed in the bill shall be considered as adopted and the bill, as amended, shall be considered as read.
14. Waives all points of order against provisions in the bill, as amended.
15. Provides one motion to recommit.
16. Provides that at any time through the legislative day of Friday, May 14, 2021, the Speaker may entertain motions offered by the Majority Leader or a designee that the House suspend the rules with respect to multiple measures that were the object of motions to suspend the rules on the legislative days of May 11 or 12, 2021, and on which the yeas and nays were ordered and further proceedings postponed. The Chair shall put the question on any such motion without debate or intervening motion, and the ordering of the yeas and nays on postponed motions to suspend the rules with respect to such measures is vacated.
17. House Resolution 379 is hereby adopted.

Amendments (click headers to sort)

#Version #Sponsor(s)PartySummaryStatus
1Version 2Craig (MN)DemocratRevised Adds a new section entitled the “Ryan Frascone Memorial Student Loan Relief Act of 2021” to release cosigners of private student loan agreements in the event of the death of the borrower, which will align current law with loans made prior to enactment of the Economic, Growth, Regulatory Relief, and Consumer Protection Act (P.L. 115-174). The amendment also creates the Treasury Loan Purchase Program administered by the Dept. of Treasury that would allow private student loan providers who sustain significant financial injury from releasing cosigners retroactively as provided in the amendment to apply to the Secretary of the Treasury to have the Secretary purchase and retire such loan.Made in Order
2Version 1Steil (WI)RepublicanDirects the GAO to study and report to Congress within 1 year about the debt collection process for minority, rural, and urban low-income and underserved borrowers and small businesses with the bill becoming effective upon the report's release.Submitted
3Version 1Luetkemeyer (MO)RepublicanDirects the GAO to study and report to Congress within 1-year about how restricting debt collection will impact low- to moderate-income and minority borrowers with the bill becoming effective upon date of the report's release.Made in Order
4Version 1Bonamici (OR), Cohen (TN)DemocratExpands requirements debt collectors must meet to take legal action on a debt, including providing advanced notice of commencing legal action and updates FDCPA to require proof that a debt is legally owed and due.Made in Order
5Version 1Williams (GA)DemocratCommissions a report that identifies and analyzes racial disparities relating to debt collection practices and provides administrative and legislative recommendations to address such disparities.Made in Order
6Version 1Pappas (NH)DemocratReforms VA’s debt collection process by making VA’s communications around debt more accessible and preventing the creation of debts when the debt is the fault of the Department.Submitted
7Version 1Huizenga (MI)RepublicanAllows for a temporary pause (through end of 2021) on debt collection for small businesses closed or damaged during 2020 protests.Submitted
8Version 2McHenry (NC)RepublicanSUBSTITUTE Revised Replaces the underlying bill with targeted approaches to improve the debt collection and credit reporting framework which will ensure the financial system remains safe and sound while protecting and introducing options for consumers.Made in Order
9Version 2Waters (CA)DemocratMANAGER’S AMENDMENT Revised Adds and refines certain definitions, makes a number of other minor changes and technical corrections, and includes additional revenue measures.Considered as Adopted
10Version 1Cohen (TN), Ocasio-Cortez (NY), Bonamici (OR)DemocratAdds language that would explicitly prohibit debt collectors from collecting or attempting to collect debt from consumers which the statute of limitations has expired and would also prohibit a debt collector from bringing, or threatening to bring, legal action against any consumer on a debt in which the statute of limitations has expired.Made in Order
11Version 2Ross, Deborah (NC)DemocratRevised Directs the GAO to (1) analyze the trends and impacts associated with the use of electronic and telephone communications in the debt collection industry, and (2) recommend regulatory and legislative proposals to reduce the annoyance, abuse, and harassment of consumers by debt collectors, including the frequency of electronic and telephone communications by debt collectors to consumers.Made in Order
12Version 1Burgess (TX)RepublicanPrior to enacting this legislation, the Treasury Secretary shall certify that this legislation will not limit the availability of debt products or increase their cost for Americans without a credit history, Americans with poor credit history, or Americans from lower socio-economic backgrounds.Made in Order
13Version 2Omar (MN)DemocratRevised Directs the CFPB to study and report to Congress within 18 months about the consumer experiences and financial impacts of debt collection practices on student loan borrowers with private education loans, and requires an analysis on the practices of private student lenders challenging undue hardship petitions.Made in Order
14Version 1Payne, Jr. (NJ)DemocratRequires the CFPB to report to Congress on the number of people unable to pay a debt because a debt collector is unable to accept a cash payment.Made in Order
15Version 1Bush, Cori (MO)DemocratRequires the CFPB report to Congress in 6 months analyzing consumer complaint data relating to debt collection practices (including debt collection practices as it relates to medical debt and debts owed by servicemembers) during the pandemic, as well as a list of enforcement actions taken by CFPB relating to debt collection during the pandemic. The report must also outline a strategy on how the CFPB will utilize regulatory, supervisory and enforcement tools to combat predatory debt collection practices identified during the pandemic and the CFPB would be required to request debt collectors covered by their larger participant rule provide to the Bureau information about their default judgements pursued through litigation during the pandemic.Made in Order
16Version 1Adams (NC), Williams (GA)DemocratLate Provides private student loan borrowers the same protections as federal borrowers, with regards to prohibiting servicers and credit reporting agencies from reporting adverse information and directs the credit reporting agencies to remove any adverse information.Made in Order
17Version 1Loudermilk (GA)RepublicanLate Directs the GAO to study and report to Congress within one year about the impact the bill could have on the cost of healthcare and access to healthcare services. The bill would be effective upon date of report release.Submitted
18Version 1Budd (NC)RepublicanLate Allows for temporary pause (through end of 2021) on debt collection and reporting of adverse credit information for federal law enforcement individuals or small businesses that suffered physical damage or harm during 2020 protests.Submitted
19Version 1Newman (IL)DemocratLate Requires the CFPB to create a page on their website with a consumer bill of rights for abusive debt collectors and resources, as well as directing it to be offered in different languages.Made in Order
20Version 1Bowman (NY)DemocratLate Ensure that debt collectors would not be allowed to contact consumers via social media unless explicitly provided written consent.Made in Order
21Version 1Omar (MN)DemocratLate Allows and reaffirms that private education loans are able to be discharged during bankruptcy proceedings.Submitted