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HR 1059 105th Congress House Finance and Financial Sector Civil procedure Class actions (Civil procedure) Collection of accounts Commerce Consumer credit Consumer protection Damages Debtor and creditor Foreclosure Government Operations and Politics Housing and Community Development Law Legal fees Liability (Law) State courts State laws

Credit Cost Reduction Act of 1997

Introduced: March 13, 1997 See on congress.gov
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 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
Introduced in House
Mar 13, 1997
Referred to the House Committee on Banking and Financial Services.
 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.

What's happening now March 28, 1997

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

 Committees of jurisdiction 2
 Cosponsors 2
All 2 Republican 2