S. 4803

119 S4803 IS: Home Equity Lending Integrity Act
 U.S. Senate
 2026-06-17
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 EN
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 II  119th CONGRESS  2d Session  S. 4803  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.
1.
Short title
This Act may be cited as the   Home Equity Lending Integrity Act  .
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.