S 2153

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A bill to amend the Truth in Lending Act to enhance disclosure of the terms of home mortgage loans, and for other purposes.
Sponsor: John Reed (D) RI
 
Status: Active
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Summary:
10/4/2007--Introduced.Mortgage Disclosure Improvement Act of 2007 - Amends the Truth in Lending Act to require a creditor to disclose to a consumer with respect to an extension of credit secured by the consumer's dwelling that the consumer is not required to complete the credit agreement merely because the consumer has received required disclosures or signed a loan application. Requires such disclosure to be furnished to the borrower not later than seven business days before the consummation of the transaction, as well as at the time of consummation. Requires additional disclosures in such a circumstance regarding any variable rates or payment schedules. Increases the actual damages for which a creditor is liable for noncompliance with such Act in the case of an individual action relating to a credit transaction not under an open end credit plan that is secured by real property or a dwelling. Replaces the current range of damages from $200 to $2,000 with a flat damages amount of $5,000, adjusted annually for inflation.
 
Text of Legislation:

S 2153 IS

111th CONGRESS

1st Session

S. 2153

To suspend temporarily the duty on grocery bags of nonwoven fabric wholly of polypropylene.

IN THE SENATE OF THE UNITED STATES

October 29, 2009

Mr. SPECTER (for himself and Mr. CASEY) introduced the following bill; which was read twice and referred to the Committee on Finance


A BILL

To suspend temporarily the duty on grocery bags of nonwoven fabric wholly of polypropylene.

    Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. GROCERY BAGS OF NONWOVEN FABRIC WHOLLY OF POLYPROPYLENE.

    (a) In General- Subchapter II of chapter 99 of the Harmonized Tariff Schedule of the United States is amended by inserting in numerical sequence the following new heading:

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‘ 9902.01.00 Grocery bags of nonwoven fabric wholly of polypropylene, of which the fabric comprising the outer surface of the bag is at least 70 grams per square meter and does not exceed 110 grams per square meter, with handles of nonwoven fabric wholly of polypropylene sewn on, with a capacity not to exceed 23 liters each, of a type used to carry food or beverages purchased in grocery stores, supermarkets or pharmacies or the like (provided for in subheading 4202.92.30) Free No change No change On or before 12/31/2011 ’. 
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    (b) Effective Date- The amendment made by subsection (a) applies to goods entered, or withdrawn from warehouse for consumption, on or after the 15th day after the date of the enactment of this Act.


Full Text of Legislation
 
 
All Actions:

Actions Date
Action Text
10/4/2007
Sponsor introductory remarks on measure. (CR S12780-12781)
10/4/2007
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
 
Titles:

Mortgage Disclosure Improvement Act of 2007
A bill to amend the Truth in Lending Act to enhance disclosure of the terms of home mortgage loans, and for other purposes.
 
Committee:

Referral, In Committee
 
Related Bill Details:

 
Amendments

Amendments not available.
 
 
 
 
 
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