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HR 1332 106th Congress House

Truth in Lending Modernization Act of 1999

Official title: To amend the Truth in Lending Act to expand protections for consumers by adjusting statutory exemptions and civil penalties to reflect inflation, to eliminate … Show full official titleShow less

Official title: To amend the Truth in Lending Act to expand protections for consumers by adjusting statutory exemptions and civil penalties to reflect inflation, to eliminate the Rule of 78s accounting for interest rebates in consumer credit transactions, and for other purposes.

Introduced: April 14, 1999 See on congress.gov
Finance and Financial Sector AccountingAdministrative procedureCommerceConsumer credit
More subjectsShow fewer subjects
Consumer educationConsumer protectionDamagesDebtor and creditorFederal Reserve SystemFines (Penalties)Government Operations and PoliticsInterestLawLease and rental servicesLiability (Law)
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This bill died when the 106th Congress ended
It never became law before the 106th Congress (1999–2000) 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 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
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 Latest action April 16, 1999

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

 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.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Democratic 1
D
Schakowsky, Janice D.
Illinois · Apr 14, 1999
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1332: Truth in Lending Modernization Act of 1999. 106th Congress. Open America. https://openamerica.io/bill/106-HR-1332/
MLA
"H.R. 1332: Truth in Lending Modernization Act of 1999." 106th Congress, 2026, Open America, https://openamerica.io/bill/106-HR-1332/.
Bluebook (legal)
H.R. 1332, 106th Cong. (2026), https://openamerica.io/bill/106-HR-1332/.
Markdown link
[H.R. 1332: Truth in Lending Modernization Act of 1999](https://openamerica.io/bill/106-HR-1332/)
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