HR 3217
107th Congress
House
Finance and Financial Sector
Collection of accounts
Commerce
Consumer credit
Consumer protection
Debtor and creditor
EBB Terrorism
Fees
Financial services
Insurance companies
Securities industry
Late Fee Relief Act
Introduced: November 1, 2001
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 19, 2001
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Nov 1, 2001
Referred to the House Committee on Financial Services.
Nov 1, 2001
Introduced in House
Plain-English summary
Late Fee Relief Act - Establishes a six-month period during which consumers of financial services shall be extended a two-week grace period to make any obligatory payments. Prohibits a financial services business from: (1) imposing either a late fee or additional financing fee upon a consumer account for failure to make payment by the due date, unless a payment is not received by the end of the two-week grace period; or (2) providing any information adverse to the consumer or the consumer's credit status as a result of such payment failure before the two-week grace period.
States that this Act shall be enforced under the Truth in Lending Act.
What's happening now
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Committees of jurisdiction
2
Cosponsors
1