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.