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HR 1660 109th Congress House

Payday Borrower Protection Act of 2005

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 4, 2005 See on congress.gov
Finance and Financial Sector Alternative dispute resolutionBank loansBusiness recordsChecks
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Civil actions and liabilityCollection of accountsCommerceCommercial arbitrationConsumer creditConsumer educationConsumer protectionCredit insuranceCrime and Law EnforcementDamagesDebtor and creditorElectronic funds transfersFeesFines (Penalties)FraudGovernment Operations and PoliticsInsurance premiumsInterestInterest ratesLawLegal feesLicensesLoan defaultsLoansPunitive damagesScience, Technology, CommunicationsState lawsSurety and fidelityUsury
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This bill died when the 109th Congress ended
It never became law before the 109th Congress (2005–2006) 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
May 19, 2005
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Apr 14, 2005
Referred to the House Committee on Financial Services.
Apr 14, 2005
Introduced in House
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 Latest action May 19, 2005

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

 Plain-English summary Congressional Research Service

Payday Borrower Protection Act of 2005 - Amends the Truth in Lending Act to prohibit the business of making deferred deposit loans (payday loans) in any state unless expressly authorized by state law that meets the requirements of this Act.

Amends the Federal Deposit Insurance Act to prohibit insured depository institutions from making: (1) payday loans except in full compliance with state law and at an interest rate no more than the lesser of 36% or the maximum annual percentage rate allowable in the state; or (2) any loan to a payday lender to finance payday loans unless that lender is in full compliance with specified Federal and state law.

Sets forth state licensing and regulatory requirements for payday loans, including civil and criminal penalties for violations.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Democratic 1
D
Lofgren, Zoe
California · May 4, 2005
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1660: Payday Borrower Protection Act of 2005. 109th Congress. Open America. https://openamerica.io/bill/109-HR-1660/
MLA
"H.R. 1660: Payday Borrower Protection Act of 2005." 109th Congress, 2026, Open America, https://openamerica.io/bill/109-HR-1660/.
Bluebook (legal)
H.R. 1660, 109th Cong. (2026), https://openamerica.io/bill/109-HR-1660/.
Markdown link
[H.R. 1660: Payday Borrower Protection Act of 2005](https://openamerica.io/bill/109-HR-1660/)
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