Federal Laws Concerning Grants and Loans
H.R. 2269:
Discusses Pell Grant increases and debt payment/forgiveness for students.
http://thomas.loc.gov/cgi-bin/bdquery/z?d110:HR02669:@@@R
(look for the text and pdf links next to 9/27/2007)
Federal Laws Regulating Credit Practices
Fair Credit Reporting Act:
Regulates the collection and use of consumer credit information
www.ftc.gov/os/statutes/031224fcra.pdf
Fair Credit Billing Act:
An amendment to the Truth in Lending Act, the FCB protects consumers from unfair billing practices and billing errors
www.ftc.gov/os/statutes/fcb/fcb.pdf
Consumer Credit Protection Act:
Protects employees from being fired because any part of their wage was garnished (a stoppage of a specified sum from wages to satisfy a creditor or a legal obligation; m-w.com)
http://www.fdic.gov/regulations/laws/rules/6500-200.html
Truth in Lending Act:
Promotes informed use of consumer credit cards through disclosure of credit card terms and agreements, allows timely solution to billing disagreements, and allows consumers to cancel transactions that involve a lien on their homes (1: a charge upon real or personal property for the satisfaction of some debt or duty ordinarily arising by operation of law 2 : the security interest created by a mortgage; m-w.com)
www.occ.treas.gov/handbook/til.pdf
Fair Debt Collection Practices Act:
Creates guidelines for credit collectors, protects consumers from unfair or abusive collection practices, allows consumers to solve disputes in debt collection
www.ftc.gov/bcp/edu/pubs/consumer/credit/cre27.pdf
Equal Credit Opportunity Act:
Prevents discrimination in applying for credit due to race, gender, color, religion, marital status, age, national origin, or because the consumer receives some form of public aid
www.ftc.gov/bcp/conline/pubs/credit/ecoa.shtm
