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HR 1332 106th Congress House Finance and Financial Sector Accounting Administrative procedure Commerce Consumer credit Consumer education Consumer protection Damages Debtor and creditor Federal Reserve System Fines (Penalties) Government Operations and Politics Interest Law Lease and rental services Liability (Law)

Truth in Lending Modernization Act of 1999

Introduced: March 25, 1999 See on congress.gov
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 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 16, 1999
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Mar 25, 1999
Referred to the House Committee on Banking and Financial Services.
Mar 25, 1999
Sponsor introductory remarks on measure. (CR E569-570)
Mar 25, 1999
Introduced in House
 Plain-English summary Congressional Research Service

Truth in Lending Modernization Act of 1999 - Amends the Consumer Credit Protection Act to: (1) apply consumer credit information and disclosure requirements to all credit and lease transactions involving real and personal property in which the total amount financed exceeds $50,000 (currently $25,000); and (2) increase the civil penalties for creditor violations of such requirements.

Amends the Housing and Community Development Act of 1992 to eliminate the Rule of 78s accounting method for calculating refunds of unearned interest on credit transactions consummated after September 30, 1999 (currently, September 30, 1993).

Directs the Board of Governors of the Federal Reserve System to issue final regulations implementing this Act.

What's happening now April 16, 1999

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Democratic 1