Unsolicited Loan Check Consumer Protection Act of 2001

Fact Sheet API

Bill Number

HR 1058

Introduced

Mar 15, 2001

Latest Action

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

Sponsor

Cosponsors

Topics

Administrative procedure Checks Commerce Consumer credit Consumer education Consumer protection Debtor and creditor Deceptive advertising Federal Reserve System Finance and Financial Sector Government Operations and Politics Law Liability (Law) Negotiable instruments Personal loans Restrictive trade practices

Full Text

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Votes

Summary

Unsolicited Loan Check Consumer Protection Act of 2001 - Amends the Consumer Credit Protection Act to prohibit loan solicitations to consumers that are accompanied by a negotiable instrument (unsolicited loan checks), unless such solicitations are in response to a prior consumer request for an extension of credit.

Declares that such consumers are not liable for the amount of any negotiable instrument sent in violation of this Act. Prohibits reporting to, or receipt by, any credit agency of information on consumer creditworthiness based upon such unsolicited loan checks.

Actions

Mar 26, 2001

Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Mar 15, 2001

Referred to the House Committee on Financial Services.
Mar 15, 2001

Introduced in House

Amendments

Related Bills