Tennessee · 114th Regular Session (2025-2026) · Bill

SB 487: Consumer Protection - As introduced, reduces, from $100 billion to $50 billion, the amount of assets held by a state or national bank, savings and loan association, savings bank, credit union, industrial loan and thrift, or mortgage lender that are necessary to fall within the definition of a financial institution for purposes of the application of certain consumer protections. - Amends TCA Title 4; Title 9; Title 45; Title 47 and Title 56.

In committee Last action February 12, 2025: Passed on Second Consideration, refer to Senate Commerce and Labor Committee

Plain-language summary

SB 487 is a bill introduced in the Tennessee Senate on January 29, 2025. According to its official title, it concerns: Consumer Protection - As introduced, reduces, from $100 billion to $50 billion, the amount of assets held by a state or national bank, savings and loan association, savings bank, credit union, industrial loan and thrift, or mortgage lender that are necessary to fall within the definition of a financial institution for purposes of the application of certain consumer protections. - Amends TCA Title 4; Title 9; Title 45; Title 47 and Title 56. Primary sponsor: Janice Bowling (Republican). Most recent recorded action (February 12, 2025): Passed on Second Consideration, refer to Senate Commerce and Labor Committee.

Sponsors

Primary sponsor: Janice Bowling (Republican).