HR 3823
106th Congress
House
Finance and Financial Sector
Bank accounts
Bank loans
Checking accounts
Checks
Class actions (Civil procedure)
Collection of accounts
Commerce
Consumer credit
Consumer education
Consumer protection
Credit unions
Damages
Debtor and creditor
Fees
Interest rates
Law
Liability (Law)
Personal loans
Federal Payday Loan Consumer Protection Amendments of 2000
Introduced: March 2, 2000
See on congress.gov
Everywhere this bill has been
4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 13, 2000
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Mar 2, 2000
Referred to the House Committee on Banking and Financial Services.
Mar 2, 2000
Sponsor introductory remarks on measure. (CR E222-223)
Mar 2, 2000
Introduced in House
Plain-English summary
Federal Payday Loan Consumer Protection Amendments of 2000 - Amends the Federal Deposit Insurance Act to prohibit an insured depository institution from making: (1) payday loans; and (2) any loan to any lender in order to either finance, refinance or extend a payday loan.
Amends the Consumer Credit Protection Act to redefine credit to include any payday loan.
Amends the Truth in Lending Act to prohibit a creditor from making a payday loan if the creditor has reasonable cause to believe that: (1) the personal check or share draft received in exchange for such loan is drawn upon either an insured depository institution or insured credit union; or (2) the account debited in exchange for such loan is a transaction or share draft account at an insured depository institution or an insured credit union.
Sets forth civil liabilities for violations of this Act.
What's happening now
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Committees of jurisdiction
2