S. 5099: SAFE Lending Act of 2022

117th Congress · introduced 2022-11-16 · 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 2022-11-16 · official record
Who proposed it: Sen. Merkley, Jeff [D-OR] · 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

SAFE Lending Act of 2022

Plain summary

Stopping Abuse and Fraud in Electronic Lending Act of 2022 or the SAFE Lending Act of 2022 This bill revises requirements related to consumer financial protection and small-dollar lending, including matters concerning remotely created checks, electronic fund transfers, registration of small-dollar lenders, overdraft fees, and the collection of personal information. Under the bill, remotely created checks may only be issued by a person specifically designated in writing by a consumer and provided to the consumer's depository institution. (A remotely created check is a check not issued by the bank and not signed by the account owner.) A voluntary agreement to repay a small-dollar consumer credit transaction by an electronic fund transfer is subject to certain protections, including the right of the consumer to stop payment. Small-dollar consumer credit providers must register with the Consumer Financial Protection Bureau. Any small-dollar consumer credit transaction is subject to the laws of the state in which the consumer resides. The bill also prohibits overdraft fees on prepaid accounts.

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

SAFE Lending Act of 2022

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. Merkley, Jeff [D-OR] · 13 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Richard Blumenthal (D-CT), Cory A. Booker (D-NJ), Tammy Duckworth (D-IL), Richard J. Durbin (D-IL), Kirsten E. Gillibrand (D-NY), Martin Heinrich (D-NM), Edward J. Markey (D-MA), Bernard Sanders (I-VT), Tina Smith (D-MN), Chris Van Hollen (D-MD), Ron Wyden (D-OR), Ben Ray Luján (D-NM)

Sponsor's campaign money: Sen. Merkley, Jeff [D-OR] reported raising $5.4 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 (1)

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).

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-117s5099.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/117/s>

Record fed-us-cong117-s5099 · catalog fed-us-congress-bills-cong117 · updated 2026-11-15 by psicol fed-bills-cong117