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.

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.

Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written