To amend the Truth in Lending Act and the Real Estate Settlement Procedures Act of 1974 to establish language access requirements for creditors and servicers, and for other purposes.
Improving Language Access in Mortgage Servicing Act of 2021
This bill establishes language translation requirements related to residential mortgage applications and servicing.
The Consumer Financial Protection Bureau (CFPB) must create a standard language preference form. Creditors and servicers must provide this form to consumers along with residential mortgage applications and certain notices related to a mortgage loan.
Upon notice of a consumer's language preference, creditors and servicers must provide (1) oral interpretation services; and (2) translated documents, if available.
The CFPB and the Federal Housing Finance Agency must publish translated documents used in association with a residential mortgage.
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced in House
Introduced in House
Referred to the Committee on Financial Services, and in addition to the Committee on Veterans' Affairs, 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.
Referred to the Committee on Financial Services, and in addition to the Committee on Veterans' Affairs, 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.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 29 - 24.
Referred to the Subcommittee on Economic Opportunity.
Reported (Amended) by the Committee on Financial Services. H. Rept. 117-370, Part I.
Reported (Amended) by the Committee on Financial Services. H. Rept. 117-370, Part I.
Committee on Veterans' Affairs discharged.
Committee on Veterans' Affairs discharged.
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Placed on the Union Calendar, Calendar No. 281.