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HR 1059 105th Congress House

Credit Cost Reduction Act of 1997

Official title: To amend the Fair Debt Collection Practices Act to reduce the cost of credit, and for other purposes.

Introduced: October 8, 1997 See on congress.gov
Finance and Financial Sector Civil procedureClass actions (Civil procedure)Collection of accountsCommerce
More subjectsShow fewer subjects
Consumer creditConsumer protectionDamagesDebtor and creditorForeclosureGovernment Operations and PoliticsHousing and Community DevelopmentLawLegal feesLiability (Law)State courtsState laws
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This bill died when the 105th Congress ended
It never became law before the 105th Congress (1997–1998) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 28, 1997
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Mar 13, 1997
Referred to the House Committee on Banking and Financial Services.
Mar 13, 1997
Introduced in House
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 Latest action March 28, 1997

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

 Plain-English summary Congressional Research Service

Credit Cost Reduction Act of 1997 - Amends the Fair Debt Collection Practices Act to exempt from its coverage communications involving: (1) actions taken pursuant to either Federal or State Rules of Civil Procedure; or (2) a nonjudicial foreclosure.

Permits collection activities and communications to continue during the 30-day period following the initial notice of debt by the debt collector to the debtor.

Modifies civil liability guidelines with respect to: (1) class action awards; (2) attorney's fees to enforce civil liability; (3) plaintiff's attorney's fees; (4) disallowance of certain fees accruing after refusal of settlement offer; and (5) factors for court consideration in determining the amount of debt collector liability for noncompliance with such Act.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 4
All 4 Republican 2
R
Aderholt, Robert B.
Alabama · Mar 18, 1998
 R
Calvert, Ken
California · Oct 8, 1997
COLLINS, MAC
· Jun 10, 1997
MCINNIS, SCOTT
· Jun 3, 1997
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1059: Credit Cost Reduction Act of 1997. 105th Congress. Open America. https://openamerica.io/bill/105-HR-1059/
MLA
"H.R. 1059: Credit Cost Reduction Act of 1997." 105th Congress, 2026, Open America, https://openamerica.io/bill/105-HR-1059/.
Bluebook (legal)
H.R. 1059, 105th Cong. (2026), https://openamerica.io/bill/105-HR-1059/.
Markdown link
[H.R. 1059: Credit Cost Reduction Act of 1997](https://openamerica.io/bill/105-HR-1059/)
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