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S. 641 106th Congress Senate

Consumer Credit Act of 1999

Official title: A bill to amend the Truth in Lending Act to provide for enhanced information regarding credit card balance payment terms and conditions, and to provide for enh… Show full official titleShow less

Official title: A bill to amend the Truth in Lending Act to provide for enhanced information regarding credit card balance payment terms and conditions, and to provide for enhanced reporting of credit card solicitations to the Board of Governors of the Federal Reserve System and to Congress, and for other purposes.

Introduced: March 17, 1999 See on congress.gov
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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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 17, 1999
Read twice and referred to the Committee on Banking.
Mar 17, 1999
Sponsor introductory remarks on measure. (CR S2844-2845)
Mar 17, 1999
Introduced in Senate
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 Latest action March 17, 1999

Read twice and referred to the Committee on Banking.

 Plain-English summary Congressional Research Service

Consumer Credit Act of 1999 - Amends the Truth in Lending Act to mandate that: (1) monthly billing statements for an open end consumer credit plan include specified repayment information, including the number of months it would take to pay the balance and the total cost if the consumer pays only the required minimum payment; (2) certain written disclosures be furnished to the consumer at the time of purchase if the creditor of an open end consumer credit plan obtains a security interest in personal property purchased under such plan; and (3) the Board of Governors of the Federal Reserve System (the Board) publish the pertinent model disclosure forms.

Requires: (1) creditors making advances under an open end credit plan to annually report certain loan data to the Board; and (2) the Board to compile such data and submit it to certain congressional committees annually.

Amends Federal bankruptcy law to permit the discharge in bankruptcy of an individual debt if the creditor has not made the requisite disclosures under this Act.

Sanctions the reaffirmation of a dischargeable debt if the reaffirmation agreement contains such disclosures.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Durbin, Richard J.
Illinois · Mar 17, 1999
Cite this page click to expand
APA
U.S. Congress. (2026). S. 641: Consumer Credit Act of 1999. 106th Congress. Open America. https://openamerica.io/bill/106-S-641/
MLA
"S. 641: Consumer Credit Act of 1999." 106th Congress, 2026, Open America, https://openamerica.io/bill/106-S-641/.
Bluebook (legal)
S. 641, 106th Cong. (2026), https://openamerica.io/bill/106-S-641/.
Markdown link
[S. 641: Consumer Credit Act of 1999](https://openamerica.io/bill/106-S-641/)
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