Deceptive Loan Check Elimination Act
Latest action · Aug 6, 2009 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedAug 6, 2009
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Deceptive Loan Check Elimination Act - Amends the Truth in Lending Act (TILA) to prohibit a person from extending any consumer credit through the use by the consumer of a check or other negotiable instrument sent by the creditor to solicit an extension of consumer credit, unless the consumer has requested it in writing.
States that a nonnegotiable instrument that has the appearance of a negotiable instrument in connection with a solicitation for an extension of credit is not an application or request for purposes of this Act.
Shields a consumer from liability for: (1) the principal amount of a negotiable instrument sent in violation of this Act; or (2) any interest, fee, or penalty charged in connection with such negotiable instrument.
Prohibits any information relating to the liability of a consumer alleged by a creditor to have been established through a negotiable instrument sent in violation of this Act from being either reported to or received by any consumer reporting agency, or from being included in any consumer report.
Cosponsors 2
Members who signed on, in the order they did. Signatures ran from Sep 9, 2009 to Oct 5, 2009.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-MN | Al Franken | Sep 9, 2009 | |
| D-RI | Sheldon Whitehouse | Oct 5, 2009 |
Actions 3
Everything that happened, newest first.
- Aug 6, 2009Introduced in Senate
- Aug 6, 2009Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Aug 6, 2009Sponsor introductory remarks on measure. (CR S9004)
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
Text 1
Each version as it was printed, newest first.
- Aug 6, 2009Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.