US Congress Senate Bill 1595 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 3-0)
Status: Introduced on August 6 2009 - 25% progression, died in chamber
Action: 2009-08-06 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Text: Latest bill text (Introduced) [PDF]

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.

Deceptive Loan Check Elimination Act

Sen. Al Franken [D-MN]

Sen. Jeff Merkley [D-OR]

Sen. Sheldon Whitehouse [D-RI]

Date	Chamber	Action
2009-08-06		Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
2009-08-06		Sponsor introductory remarks on measure. (CR S9004)

Type	Source
Summary	https://www.congress.gov/bill/111th-congress/senate-bill/1595/all-info
Text	https://www.congress.gov/111/bills/s1595/BILLS-111s1595is.pdf