HR. 1658In Committee
SAFE Lending Act of 2025
Creates added consumer protections for electronic lending and small dollar credit, including remotely created checks, electronic fund transfers, lender registration, and prepaid account overdraft fees
Plain-English overview
What this bill does
Creates added consumer protections for electronic lending and small dollar credit, including remotely created checks, electronic fund transfers, lender registration, and prepaid account overdraft fees
Key points
- Require written authorization for remotely created checks
- Require CFPB registration for small dollar lenders
- Prohibit prepaid account overdraft fees
- Allow stopping payment on electronic fund transfers
Current status
Where it stands
Status
In Committee
Latest action
2025-02-27 — Referred to the House Committee on Financial Services.
Related context
Topics and policy areas
undefinedFinance and Financial Sector