S. 780: SAFE Lending Act of 2025
A Senate bill (S.) in the 119th U.S. Congress.
Overview
| Congress | 119th U.S. Congress (2025–2026) |
|---|---|
| Type | Senate bill (S.) |
| Originating chamber | Senate |
| Introduced | 2025-02-27 |
| Sponsor | Sen. Merkley, Jeff [D-OR] |
| Policy area | Finance and Financial Sector |
| Cosponsors | 11 |
| Latest action | 2025-02-27 — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. |
| Last updated | 2026-01-15 |
Summary
Official summary (Introduced in Senate, 2025-02-27):
Stopping Abuse and Fraud in Electronic Lending Act of 2025 or the SAFE Lending Act of 2025
This bill creates additional consumer protections applicable to certain credit and banking transactions, including matters concerning remotely created checks, electronic fund transfers, registration of small-dollar lenders, overdraft fees, and the collection of personal information.
Under the bill, remotely created checks may only be issued by a person specifically designated in writing by a consumer. The consumer must provide the designation to the consumer's depository institution. (A remotely created check is a check not issued by the bank and not signed by the account owner.)
A voluntary agreement to repay a small-dollar consumer credit transaction by an electronic fund transfer is subject to certain protections, including the right of the consumer to stop payment.
Small-dollar consumer credit providers must register with the Consumer Financial Protection Bureau. Any small-dollar consumer credit transaction is subject to the laws of the state in which the consumer resides.
The bill also prohibits overdraft fees on prepaid accounts.
Cosponsors (11)
| Name | Party / state |
|---|---|
| Bernard Sanders | I VT (original cosponsor) 2025-02-27 |
| Ron Wyden | D OR (original cosponsor) 2025-02-27 |
| Chris Van Hollen | D MD (original cosponsor) 2025-02-27 |
| Richard J. Durbin | D IL (original cosponsor) 2025-02-27 |
| Richard Blumenthal | D CT (original cosponsor) 2025-02-27 |
| Tina Smith | D MN (original cosponsor) 2025-02-27 |
| Edward J. Markey | D MA (original cosponsor) 2025-02-27 |
| Cory A. Booker | D NJ (original cosponsor) 2025-02-27 |
| Tammy Baldwin | D WI (original cosponsor) 2025-02-27 |
| Martin Heinrich | D NM 2025-03-25 |
| Ben Ray Luján | D NM 2025-04-01 |
Full text & official record
The official bill text, section-by-section summary, amendments, committee reports, and the complete legislative timeline for S. 780 are published by Congress on congress.gov.
Frequently asked questions
What is S. 780?
S. 780 is a Senate bill (S.) introduced in the 119th U.S. Congress, originating in the Senate. Official title: SAFE Lending Act of 2025.
Where can I read the full bill text?
The full text, cosponsors, amendments, and legislative status for S. 780 are available on congress.gov.
Bill data: congress.gov API (official congressional records).