3.0.0 3629 2017-12-15T00:43:57Z 2017-12-15T00:43:57Z Senate S S 2008-09-26 110 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2008-09-26T22:19:04Z Consumer Credit Safety Commission Act of 2008 110 7258 HR 2008-10-03 Referred to the House Committee on Financial Services. Identical bill CRS 2008-09-26 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S9711-9715) IntroReferral 2008-09-26 Sponsor introductory remarks on measure. (CR S9711) IntroReferral B00100 9 Library of Congress 2008-09-26 Introduced in Senate IntroReferral 10000 9 Library of Congress D000563 Sen. Durbin, Richard J. [D-IL] Richard Durbin D IL J. N Finance and Financial Sector Administrative procedure Commerce Consumer credit Crime and Law Enforcement Executive reorganization Fines (Penalties) Fraud Government Operations and Politics Governmental investigations Law Restrictive trade practices Standards Finance and Financial Sector 00 2008-09-26 Introduced in Senate 2009-01-06T16:51:51Z Consumer Credit Safety Commission Act of 2008 - Establishes the Consumer Credit Safety Commission to promulgate consumer credit safety rules that: (1) ban abusive, fraudulent, unfair, deceptive, predatory, anticompetitive, or otherwise anti-consumer practices or product features for creditors; (2) place restrictions on consumer credit practices or product features to reduce the likelihood that they may be provided in a manner inconsistent with this Act; and (3) establish requirements for clear and adequate information appropriate to advance the objectives of this Act.

Directs the Commission to: (1) establish and maintain a best practices guide for providers of consumer credit; (2) conduct, or award grants or contracts for, continuing studies and investigations of consumer credit industry practices; (3) help consumer credit providers to develop consumer credit safety standards or guidelines; and (4) establish and operate a consumer credit customer hotline to register complaints and receive information on how to combat anti-consumer credit.

Directs the Commission to establish a program to promote federal-state cooperation to implement this Act.

Sets forth civil and criminal penalties for acts prohibited by this Act.

]]> Consumer Credit Safety Commission Act of 2008 Short Titles as Introduced Consumer Credit Safety Commission Act of 2008 Display Title Consumer Credit Safety Commission Act of 2008 Official Title as Introduced A bill to create a new Consumer Credit Safety Commission, to provide individual consumers of credit with better information and stronger protections, and to provide sellers of consumer credit with more regulatory certainty. Introduced in Senate 2008-09-26T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s3629is/xml/BILLS-110s3629is.xml 2008-09-26 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S9711-9715) 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.