3.0.0 1846 2023-01-11T13:19:37Z 2023-01-11T13:19:37Z House H HR 2009-04-01 111 hsba00 Financial Services Committee House Standing Referred to 2009-04-01T14:05:10Z 2009-04-01 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2009-04-01 Introduced in House IntroReferral Intro-H 9 Library of Congress 2009-04-01 Introduced in House IntroReferral 1000 9 Library of Congress B001234 Rep. Baca, Joe [D-CA-43] JOE BACA D CA 43 N S001164 Rep. Schmidt, Jean [R-OH-2] Jean Schmidt R OH 2 2009-04-01 True M001175 Rep. Minnick, Walter [D-ID-1] Walter Minnick D ID 1 2009-04-02 False R000581 Rep. Richardson, Laura [D-CA-37] Laura Richardson D CA 37 2009-05-12 False J000032 Rep. Jackson-Lee, Sheila [D-TX-18] SHEILA JACKSON-LEE D TX 18 2009-05-12 False G000556 Rep. Grayson, Alan [D-FL-8] Alan Grayson D FL 8 2009-06-16 False C001063 Rep. Cuellar, Henry [D-TX-28] Henry Cuellar D TX 28 2009-06-25 False J000288 Rep. Johnson, Henry C. "Hank," Jr. [D-GA-4] Henry Johnson D GA C. "Hank" 4 2009-07-09 False B001231 Rep. Berkley, Shelley [D-NV-1] SHELLEY BERKLEY D NV 1 2009-07-17 False O000107 Rep. Ortiz, Solomon P. [D-TX-27] SOLOMON ORTIZ D TX P. 27 2009-07-31 False T000466 Rep. Teague, Harry [D-NM-2] Harry Teague D NM 2 2009-09-16 False R000568 Rep. Rodriguez, Ciro D. [D-TX-23] CIRO RODRIGUEZ D TX D. 23 2009-10-20 False Finance and Financial Sector Consumer affairs Contracts and agency Credit and credit markets Interest, dividends, interest rates User charges and fees Finance and Financial Sector 00 2009-04-01 Introduced in House 2009-06-16T21:33:58Z Consumer Lending Education And Reform Act or the C.L.E.A.R. Act - Amends the Truth in Lending Act to limit the interest, fees and charges that a payday lender may require a consumer to pay with respect to an original payday loan and a refinanced payday loan.

Prohibits a payday lender from: (1) requiring a consumer to pay an origination fee for a payday loan that is refinanced; or (2) making or refinancing a payday loan unless the creditor has first provided the consumer with a copy of a written loan agreement, signed by the creditor and by the consumer, which includes specified information in English and in the language in which the loan was negotiated.

Requires a payday lender to file a surety bond.

Prohibits a payday lender from making or refinancing a payday loan unless the terms of the loan require the creditor, upon receiving notice of consumer's inability to repay, to provide the consumer with notice of and the right to opt into an extended payment plan, without charge, one time in any 12-month period.

Prohibits a creditor from engaging in any collection activity (or procuring the services of any other for such purpose) during the term of any extended payment plan.

]]> C.L.E.A.R. Act Display Title C.L.E.A.R. Act Official Title as Introduced To amend the Truth in Lending Act to establish additional payday loan disclosure requirements and preempt certain State laws, and for other purposes. Introduced in House IH Short Titles as Introduced C.L.E.A.R. Act Short Titles as Introduced Consumer Lending Education And Reform Act Introduced in House 2009-04-01T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr1846ih/xml/BILLS-111hr1846ih.xml 2009-04-01 Referred to the House Committee on Financial Services. 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.