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U.S. GOVERNMENT
INFORMATION
Op
115TH CONGRESS REPORT
2d Session HOUSE OF REPRESENTATIVES 115-890
ENSURING QUALITY UNBIASED ACCESS TO LOANS ACT
OF 2018
AUGUST 3, 2018.-Committed to the Committee of the Whole House on the State
of the Union and ordered to be printed
Mr. HENSARLING, from the Committee on Financial Services,
submitted the following
REPORT
together with
MINORITY VIEWS
[To accompany H.R. 4861]
[Including cost estimate of the Congressional Budget Office]
The Committee on Financial Services, to whom was referred the
bill (H.R. 4861) to nullify certain guidance on deposit advance prod-
ucts, to require the Federal banking agencies to establish stand-
ards for short-term, small-dollar loans made by insured depository
institutions, to exempt insured depository institutions and insured
credit unions from the payday lending rule of the Bureau of Con-
sumer Financial Protection, and for other purposes, having consid-
ered the same, report favorably thereon without amendment and
recommend that the bill do pass.
PURPOSE AND SUMMARY
Introduced by Representative Trey Hollingsworth on November
16, 2017, H.R. 4861, the Ensuring Quality Unbiased Access to
Loans Act of 2018 would repeal the Federal Deposit Insurance
Corporation's (FDIC) Guidance on Supervisory Concerns and Ex-
pectations Regarding Deposit Advance Products (78 Fed. Reg.
70552; November 26, 2013). The bill would also require each Fed-
eral banking agency to issue regulations, subject to notice and com-
ment, to establish standards for short-term, small-dollar loans or
lines of credit made available by insured depository institutions.
79-006](ViewImageLocal?handle=hein.congrecreports/crptxabqc0001&div=1&collection=&method=preview&ext=.png&size=3)