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Standard Summary
Comprehensive overview in 1-2 paragraphs
The SAFE Lending Act of 2025 amends the Truth in Lending Act to address consumer protection issues in small-dollar consumer credit and electronic fund transfers.
Key Points
- 1Prohibits unauthorized remotely created checks without written consumer designation
- 2Requires registration of small-dollar lenders with Consumer Financial Protection Bureau
- 3Prohibits certain fees on prepaid accounts including overdraft fees
- 4Restricts lead generation in small-dollar consumer credit transactions
- 5Applies state consumer protection laws to internet-based small-dollar loans
- 6Requires study of small-dollar credit impact on Indian Tribes
Impact Areas
Consumer financial protectionSmall-dollar lending industryPrepaid account providersOnline lending platformsIndian Tribes and reservations
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