S.Amdt. 4134

SA 4134. Mr. REED submitted an amendment intended to be proposed to
amendment SA 3789 proposed by Mr. Brownback (for himself, Mr. Bond, and
Mr. Inhofe) to the amendment SA 3739 proposed by Mr. Reid (for Mr. Dodd
(for himself and Mrs. Lincoln)) to the bill S. 3217, to promote the
financial stability of the United States by improving accountability
and transparency in the financial system, to end ``too big to fail'',
to protect the American taxpayer by ending bailouts, to protect
consumers from abusive financial services practices, and for other
purposes; which was ordered to lie on the table; as follows:

At the end, add the following:
(g) Exclusion Not Applicable to Military Lending.--
(1) In general.--Subsection (a) shall not apply to any
person that extends credit or arranges for the extension of
retail credit or retail leases--
(A) subject to paragraph (2), to a consumer who is a
covered member of the Armed Forces or a dependent of a
covered member of the Armed Forces, as such terms are defined
in section 670(a) of the John Warner National Defense
Authorization Act for Fiscal Year 2007 (10 U.S.C. 987(i)(1)
and 10 U.S.C. 987(i)(2)); or
(B) for the purchase or lease of motor vehicles if such
person sells, leases, or otherwise delivers motor vehicles to
consumers from a physical location that is within 50 miles of
a United States military installation.
(2) Rule of construction.--A person shall be deemed to
comply with the exclusion under subparagraph (1)(A) if such
person uses reasonable and appropriate procedures, in
accordance with rules prescribed by the Bureau, to determine
that all applicants are not consumers described in
subparagraph (1)(A).
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