S. 1564: Continued Encouragement for Consumer Lending Act

116th Congress · introduced 2019-05-21 · 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 2019-05-21 · official record
Who proposed it: Sen. Tillis, Thomas [R-NC] · 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

Continued Encouragement for Consumer Lending Act

Plain summary

Continued Encouragement for Consumer Lending Act This bill directs the Securities and Exchange Commission and federal financial regulators to report on the implementation of the Current Expected Credit Losses (CECL) accounting standard and its impact on credit availability, capital requirements, and financial institutions. Required compliance with the CECL standard is delayed until one year after submission of this report.

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

Continued Encouragement for Consumer Lending Act

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

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

Officials and money

Sponsor: Sen. Tillis, Thomas [R-NC] · 20 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Jerry Moran (R-KS), Kevin Cramer (R-ND), Tom Cotton (R-AR), Mike Rounds (R-SD), John Boozman (R-AR), Joni Ernst (R-IA), Ted Cruz (R-TX), John Kennedy (R-LA), Cindy Hyde-Smith (R-MS), John Thune (R-SD), James Lankford (R-OK), Bill Cassidy (R-LA), Deb Fischer (R-NE), John Cornyn (R-TX), Steve Daines (R-MT)

Sponsor's campaign money: Sen. Tillis, Thomas [R-NC] reported raising $4.7 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

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).
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

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-116s1564.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/116/s>

Record fed-us-cong116-s1564 · catalog fed-us-congress-bills-cong116 · updated 2026-11-15 by psicol fed-bills-cong116