H.R.3564 — Middle Class Borrower Protection Act of 2023
House Roll Call
H.R.3564
| Bill | H.R.3564 — Middle Class Borrower Protection Act of 2023 |
|---|---|
| Vote question | On Motion to Recommit |
| Vote type | Yea-and-Nay |
| Result | Failed |
| Totals | Yea 197 / Nay 214 / Present 0 / Not Voting 22 |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| R | 0 | 213 | 0 | 8 |
| D | 197 | 1 | 0 | 14 |
| I | 0 | 0 | 0 | 0 |
Research Brief
On Motion to Recommit
Bill Analysis
The Middle Class Borrower Protection Act of 2023 (HR 3564) aims to enhance protections for middle-class borrowers in the U.S. by addressing issues related to student loan debt and consumer credit. The bill seeks to establish a framework to ensure fair lending practices and improve transparency in the borrowing process.
Key provisions of the bill include the establishment of a Borrower Protection Fund, which would be financed through fees imposed on lenders and financial institutions. This fund is intended to provide resources for borrower education programs, legal assistance, and financial counseling, thereby empowering borrowers to make informed decisions regarding their loans.
The legislation also mandates that lenders must provide clear disclosures regarding loan terms, interest rates, and repayment options. It requires the Consumer Financial Protection Bureau (CFPB) to enhance oversight of lending practices, ensuring that middle-class borrowers are not subjected to predatory lending or deceptive practices. Additionally, the bill proposes stricter regulations on loan servicers to improve their accountability and responsiveness to borrower inquiries.
Beneficiaries of the Middle Class Borrower Protection Act include middle-class individuals and families who are seeking educational loans or consumer credit. By improving access to information and support services, the bill aims to reduce the financial burden on these borrowers and promote responsible borrowing.
Key timelines include the bill’s introduction in the House, followed by its referral to the Senate Committee on Banking, Housing, and Urban Affairs. Further legislative action will determine the bill’s progression, including potential amendments and debates.
Overall, HR 3564 represents a significant effort to enhance borrower protections and promote fair lending practices, ultimately benefiting middle-class borrowers across the nation.
Yea (197)
C
Colin Allred
E
Earl Blumenauer
J
Jamaal Bowman
Y
Yadira Caraveo
T
Tony Cárdenas
M
Matt Cartwright
G
Gerald Connolly
J
Jason Crow
L
Lloyd Doggett
A
Anna Eshoo
J
John Garamendi
R
Raúl Grijalva
B
Brian Higgins
J
Jeff Jackson
S
Sheila Jackson Lee
D
Daniel Kildee
D
Derek Kilmer
A
Ann Kuster
K
Kathy Manning
L
Lucy McBath
G
Grace Napolitano
W
Wiley Nickel
B
Bill Pascrell
D
Donald Payne
M
Mary Peltola
K
Katie Porter
C
C. Ruppersberger
J
John Sarbanes
E
Eric Swalwell
R
Rashida Tlaib
D
David Trone
N
Nydia Velázquez
D
Debbie Wasserman Schultz
J
Jennifer Wexton
S
Susan Wild
Nay (214)
K
Kelly Armstrong
D
Dan Bishop
K
Ken Buck
L
Larry Bucshon
M
Michael Burgess
K
Ken Calvert
J
Jerry Carl
L
Lori Chavez-DeRemer
A
Anthony D'Esposito
J
John Duarte
J
Jeff Duncan
A
A. Ferguson
S
Scott Franklin
M
Matt Gaetz
M
Mike Gallagher
M
Mike Garcia
B
Bob Good
G
Garret Graves
M
Mark Green
B
Bill Johnson
D
Doug Lamborn
J
Jake LaTurner
D
Debbie Lesko
B
Blaine Luetkemeyer
L
Lisa McClain
P
Patrick McHenry
M
Marcus Molinaro
A
Alexander Mooney
G
Greg Pence
C
Cathy Rodgers
M
Matthew Rosendale
J
John Rutherford
G
George Santos
D
David Schweikert
P
Pete Sessions
A
Abigail Spanberger
M
Michelle Steel
C
Chris Stewart
M
Michael Waltz
B
Brad Wenstrup
B
Brandon Williams
Not Voting (22)
C
Cori Bush
R
Ruben Gallego
K
Kay Granger
B
Barbara Lee
D
Dean Phillips
B
Bill Posey
