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Home Equity Lending Integrity Act
To amend the Truth in Lending Act to include a home equity investment loan in the definition of a residential mortgage loan for the purposes of that Act, and for other purposes.
Summary
- Amends the Truth in Lending Act to explicitly include home equity investment loans in the definition of residential mortgage loans.
- Defines a home equity investment loan as a transaction secured by a mortgage on a home or residential property where a consumer receives money in exchange for an interest in the property and an obligation to pay based on the property's value.
- Requires the Bureau of Consumer Financial Protection to establish regulations applying Truth in Lending Act violation provisions to home equity investment loans.
- Establishes that the amendment reflects the current state of the Truth in Lending Act without making substantive changes to how it is administered.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Sen. Merkley, Jeff [D-OR] (D-OR)
Actions (2)
- Jun 17, 2026 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. · senate
- Jun 17, 2026 Introduced in Senate
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
IN THE SENATE OF THE UNITED STATES
June 17, 2026
Mr. Merkley introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs
A BILL
To amend the Truth in Lending Act to include a home equity investment loan in the definition of a residential mortgage loan for the purposes of that Act, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Home Equity Lending Integrity Act”.
SEC. 2. HOME EQUITY INVESTMENT LOANS.
(a) In General.—Section 103 of the Truth in Lending Act (15 U.S.C. 1602) is amended—
(1) in subsection (dd)(5), by inserting “, including a home equity investment loan,” after “means any consumer credit transaction”; and
(2) by adding at the end the following: “(ff) Home Equity Investment Loan.—The term ‘home equity investment loan’ means a transaction that is secured by a mortgage, deed of trust, or other equivalent consensual security interest on a dwelling or on residential real property, including any option, future, or other derivative between a person and a consumer where the consumer receives money (or any other item of value) in exchange for—
“(1) an interest (or future interest) in a dwelling or residential real property; and
“(2) a contingent or certain obligation to pay an amount based, in whole or in part, on the value of the dwelling or residential real property.”.
(b) Regulations.—The Bureau of Consumer Financial Protection shall prescribe regulations that apply section 130 of the Truth in Lending Act (15 U.S.C. 1640) with respect to violations under that Act (15 U.S.C. 1601 et seq.) with respect to home equity investment loans (as defined in subsection (ff) of section 103 of that Act (15 U.S.C. 1602), as added by subsection (a) of this section).
(c) Sense of Congress.—It is the sense of Congress that the amendment made by subsection (a)(1) reflects the state of the Truth in Lending Act (15 U.S.C. 1601 et seq.), as in effect on the day before the date of enactment of this Act, and does not make any substantive change to how that Act is administered. <all>
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