HR 1684 106th Congress House

Payday Borrower Protection Act of 1999

Official title: To amend the Consumer Credit Protection Act and other banking laws to protect consumers who avail themselves of payday loans from usurious interest rates and e… Show full official titleShow less

Official title: To amend the Consumer Credit Protection Act and other banking laws to protect consumers who avail themselves of payday loans from usurious interest rates and exorbitant fees, perpetual debt, the use of criminal actions to collect debts, and other unfair practices by payday lenders, to encourage the States to license and closely regulate payday lenders, and for other purposes.

Introduced: May 19, 1999 See on congress.gov

Finance and Financial Sector Bank loansBusiness recordsChecksCivil actions and liability

More subjectsShow fewer subjects

Collection of accountsCommerceConsumer creditConsumer educationConsumer protectionCredit insuranceCrime and Law EnforcementDamagesDebtor and creditorElectronic funds transfersFeesFines (Penalties)FraudGovernment Operations and PoliticsInsurance premiumsInterestInterest ratesLawLicensesLoan defaultsPersonal loansScience, Technology, CommunicationsState lawsSurety and fidelityUsury

Everywhere this bill has been 4 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

May 28, 1999

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

May 5, 1999

Referred to the House Committee on Banking and Financial Services.

May 5, 1999

Sponsor introductory remarks on measure. (CR H2642)

May 5, 1999

Introduced in House

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Latest action May 28, 1999

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

Plain-English summary Congressional Research Service

Payday Borrower Protection Act of 1999 - Amends the Truth in Lending Act and the Federal Deposit Insurance Act to require persons under their jurisdiction engaged in the business of making payday loans to operate under State licensing and regulatory procedures which meet the criteria imposed by this Act for such transactions.

Expresses the sense of Congress that deferred deposit loans should only be lawful in States in which laws and regulations are in effect that meet the requirements of this Act, as determined by the Board of Governors of the Federal Reserve System.

Enumerates State licensing criteria, including the provision of civil and criminal penalties for violations.

Bill text 1 version

Introduced in House Formatted Text PDF

Source documents hosted by congress.gov.

Committees of jurisdiction 2

Consumer Protection and Financial Institutions Subcommittee
House of Representatives · subcommittee of Financial Services Committee
Financial Services Committee
House of Representatives

Cosponsors 7

Lofgren, Zoe

California · Sep 13, 2000

Nadler, Jerrold

New York · Jun 20, 2000

CHRISTENSEN, DONNA

· Jul 15, 1999

Davis, Danny K.

Illinois · May 26, 1999

Norton, Eleanor Holmes

District of Columbia · May 26, 1999

Schakowsky, Janice D.

Illinois · May 19, 1999

Thompson, Bennie G.

Mississippi · May 19, 1999

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APA

U.S. Congress. (2026). H.R. 1684: Payday Borrower Protection Act of 1999. 106th Congress. Open America. https://openamerica.io/bill/106-HR-1684/

MLA

"H.R. 1684: Payday Borrower Protection Act of 1999." 106th Congress, 2026, Open America, https://openamerica.io/bill/106-HR-1684/.

Bluebook (legal)

H.R. 1684, 106th Cong. (2026), https://openamerica.io/bill/106-HR-1684/.

Markdown link

[H.R. 1684: Payday Borrower Protection Act of 1999](https://openamerica.io/bill/106-HR-1684/)