S. 911 · 111th Congress
Promoting Mortgage Responsibility Act
- Stage
- In committee
- Sponsor
- Jeff Merkley
- Introduced
- 2009-04-28
- Latest action
- 2009-04-28 · Introduced in Senate
Summary
Promoting Mortgage Responsibility Act - Amends the Truth in Lending Act to prohibit prepayment fees or penalties under any consumer credit transaction secured by the consumer's owner-occupied principal dwelling.
Makes any prepayment penalty in violation of this prohibition unenforceable.