S. 2278: A bill to provide for an exemption for community banks to certain escrow requirements under the Truth in Lending Act, and for other purposes.

112th Congress · introduced 2012-03-29 · Finance and Financial Sector · Latest: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

federal

Follow this bill, step by step

Where it came from: introduced 2012-03-29 · official record
Who proposed it: Sen. Vitter, David [R-LA] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

A bill to provide for an exemption for community banks to certain escrow requirements under the Truth in Lending Act, and for other purposes.

Plain summary

Amends the Truth in Lending Act with respect to the requirement that a creditor, in connection with the consummation of a consumer credit transaction secured by a first lien on the consumer's principal dwelling (other than under an open end credit plan or a reverse mortgage) establish an escrow or impound account for the payment of taxes, hazard insurance, and specified other insurance premiums, if any. Directs the Consumer Financial Protection Bureau (CFPB) to exempt from this escrow or impound account requirement any loan secured by a first lien on a consumer's principal dwelling if the loan is held by a smaller insured depository institution having assets of $10 billion or less.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

A bill to provide for an exemption for community banks to certain escrow requirements under the Truth in Lending Act, and for other purposes.

Source: Congressional Research Service summary (Introduced in Senate)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Vitter, David [R-LA] · 0 cosponsors

Cost estimate: No cost estimate published yet.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (2)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Exemption: A rule that removes certain people, property or activities from a tax or requirement.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-112s2278.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/112/s>

Record fed-us-cong112-s2278 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112