3.0.0 2407 2023-01-15T16:18:31Z 2023-01-15T16:18:31Z House H HR 2003-06-10 108 hsba00 Financial Services Committee House Standing hsba15 Consumer Protection and Financial Institutions Subcommittee Referred to 2003-06-17T16:11:33Z Referred to 2003-06-10T14:25:15Z 2003-06-17 hsba15 Consumer Protection and Financial Institutions Subcommittee 1 House committee actions Referred to the Subcommittee on Financial Institutions and Consumer Credit. Committee 2003-06-10 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2003-06-10 Sponsor introductory remarks on measure. (CR E1193-1194) IntroReferral B00100 9 Library of Congress 2003-06-10 Introduced in House IntroReferral Intro-H 9 Library of Congress 2003-06-10 Introduced in House IntroReferral 1000 9 Library of Congress R000515 Rep. Rush, Bobby L. [D-IL-1] BOBBY RUSH D IL L. 1 N E000179 Rep. Engel, Eliot L. [D-NY-17] ELIOT ENGEL D NY L. 17 2003-06-10 True M000714 Rep. Millender-McDonald, Juanita [D-CA-37] JUANITA MILLENDER-MCDONALD D CA M. 37 2003-06-10 True G000551 Rep. Grijalva, Raúl M. [D-AZ-7] Raúl Grijalva D AZ M. 7 2003-06-10 True S001145 Rep. Schakowsky, Janice D. [D-IL-9] JANICE SCHAKOWSKY D IL D. 9 2003-06-10 True B001227 Rep. Brady, Robert A. [D-PA-1] ROBERT BRADY D PA A. 1 2003-06-10 True T000193 Rep. Thompson, Bennie G. [D-MS-2] BENNIE THOMPSON D MS 2 2003-06-10 True N000147 Del. Norton, Eleanor Holmes [D-DC-At Large] ELEANOR NORTON D DC HOLMES 0 2003-06-10 True C000984 Rep. Cummings, Elijah E. [D-MD-7] ELIJAH CUMMINGS D MD E. 7 2003-06-10 True J000070 Rep. Jefferson, William J. [D-LA-2] WILLIAM JEFFERSON D LA J. 2 2003-06-10 True L000551 Rep. Lee, Barbara [D-CA-9] BARBARA LEE D CA 9 2003-06-10 True E000187 Rep. English, Phil [R-PA-3] PHIL ENGLISH R PA 3 2003-06-10 True O000159 Rep. Owens, Major R. [D-NY-11] MAJOR OWENS D NY R. 11 2003-06-10 True G000535 Rep. Gutierrez, Luis V. [D-IL-4] LUIS GUTIERREZ D IL V. 4 2003-06-10 True D000096 Rep. Davis, Danny K. [D-IL-7] DANNY DAVIS D IL K. 7 2003-06-10 True D000216 Rep. DeLauro, Rosa L. [D-CT-3] ROSA DELAURO D CT 3 2003-06-10 True H000636 Rep. Hinojosa, Ruben [D-TX-15] RUBEN HINOJOSA D TX 15 2003-06-10 True P000523 Rep. Price, David E. [D-NC-4] DAVID PRICE D NC E. 4 2003-06-10 True S000033 Rep. Sanders, Bernard [I-VT-At Large] Bernard Sanders I VT 0 2003-06-10 True M001149 Rep. Michaud, Michael H. [D-ME-2] Michael Michaud D ME H. 2 2003-06-10 True 2003-06-26 C000714 Rep. Conyers, John, Jr. [D-MI-14] JOHN CONYERS D MI 14 2003-06-10 True J000126 Rep. Johnson, Eddie Bernice [D-TX-30] EDDIE JOHNSON D TX BERNICE 30 2003-06-10 True Finance and Financial Sector Alternative dispute resolution Bank loans Business records Checks Civil actions and liability Collection of accounts Commerce Commercial arbitration Consumer credit Consumer education Consumer protection Credit insurance Crime and Law Enforcement Damages Debtor and creditor Electronic funds transfers Fees Fines (Penalties) Fraud Government Operations and Politics Insurance premiums Interest Interest rates Law Legal fees Licenses Loan defaults Loans Punitive damages Science, Technology, Communications State laws Surety and fidelity Usury Finance and Financial Sector 00 2003-06-10 Introduced in House 2005-06-07T15:21:27Z Payday Borrower Protection Act of 2003 - 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 percent 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 procedure requirements for payday loans, including the provision of civil and criminal penalties for violations.

]]> Payday Borrower Protection Act of 2003 Display Title Payday Borrower Protection Act of 2003 Official Title as Introduced 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 in House IH Short Titles as Introduced Payday Borrower Protection Act of 2003 Introduced in House 2003-06-10T04:00:00Z 2003-06-17 Referred to the Subcommittee on Financial Institutions and Consumer Credit. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.