3.0.0 2563 2023-01-11T13:19:09Z 2023-01-11T13:19:09Z House H HR 2009-05-21 111 hsba00 Financial Services Committee House Standing Referred to 2009-05-21T14:13:50Z Payday Loan Reform Act of 2009 111 1214 HR 2009-02-26 Referred to the House Committee on Financial Services. Related bill CRS 2009-05-21 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2009-05-21 Introduced in House IntroReferral Intro-H 9 Library of Congress 2009-05-21 Introduced in House IntroReferral 1000 9 Library of Congress S001171 Rep. Shuler, Heath [D-NC-11] Heath Shuler D NC 11 N M001175 Rep. Minnick, Walter [D-ID-1] Walter Minnick D ID 1 2009-05-21 True H001041 Rep. Heller, Dean [R-NV-2] Dean Heller R NV 2 2009-05-21 True M001156 Rep. McHenry, Patrick T. [R-NC-10] Patrick McHenry R NC 10 2009-05-21 True L000569 Rep. Luetkemeyer, Blaine [R-MO-9] Blaine Luetkemeyer R MO 9 2009-06-18 False S000250 Rep. Sessions, Pete [R-TX-32] PETE SESSIONS R TX 32 2009-06-18 False J000290 Rep. Jenkins, Lynn [R-KS-2] Lynn Jenkins R KS 2 2009-06-18 False S001164 Rep. Schmidt, Jean [R-OH-2] Jean Schmidt R OH 2 2009-06-18 False M001142 Rep. Matheson, Jim [D-UT-2] JIM MATHESON D UT 2 2009-06-18 False L000568 Rep. Lee, Christopher J. [R-NY-26] Christopher Lee R NY J. 26 2009-06-24 False H001030 Rep. Hill, Baron P. [D-IN-9] BARON HILL D IN P. 9 2009-07-15 False P000599 Rep. Posey, Bill [R-FL-15] Bill Posey R FL 15 2009-07-15 False M001158 Rep. Marchant, Kenny [R-TX-24] Kenny Marchant R TX 24 2009-07-15 False T000462 Rep. Tiberi, Patrick J. [R-OH-12] PATRICK TIBERI R OH J. 12 2009-07-15 False C001062 Rep. Conaway, K. Michael [R-TX-11] K. Conaway R TX Michael 11 2009-07-15 False C001051 Rep. Carter, John R. [R-TX-31] John Carter R TX R. 31 2009-07-17 False C001074 Rep. Childers, Travis [D-MS-1] Travis Childers D MS 1 2009-07-17 False N000182 Rep. Neugebauer, Randy [R-TX-19] Randy Neugebauer R TX 19 2009-07-17 False G000377 Rep. Granger, Kay [R-TX-12] KAY GRANGER R TX 12 2009-07-17 False H000067 Rep. Hall, Ralph M. [R-TX-4] RALPH HALL R TX M. 4 2009-07-17 False H000324 Rep. Hastings, Alcee L. [D-FL-23] ALCEE HASTINGS D FL L. 23 2009-07-24 False M001155 Rep. Mack, Connie [R-FL-14] Connie Mack R FL 14 2009-07-24 False M001165 Rep. McCarthy, Kevin [R-CA-22] Kevin McCarthy R CA 22 2009-07-24 False D000599 Rep. Davis, Lincoln [D-TN-4] Lincoln Davis D TN 4 2009-07-31 False W000314 Rep. Wexler, Robert [D-FL-19] ROBERT WEXLER D FL 19 2009-09-08 False B001243 Rep. Blackburn, Marsha [R-TN-7] Marsha Blackburn R TN 7 2009-09-10 False R000571 Rep. Rehberg, Denny [R-MT-At Large] DENNY REHBERG R MT 0 2009-09-30 False C001050 Rep. Cardoza, Dennis A. [D-CA-18] Dennis Cardoza D CA A. 18 2009-09-30 False B000716 Rep. Boyd, Allen [D-FL-2] ALLEN BOYD D FL JR. 2 2009-10-07 False B001248 Rep. Burgess, Michael C. [R-TX-26] Michael Burgess R TX C. 26 2009-10-08 False G000557 Rep. Griffith, Parker [D-AL-5] Parker Griffith D AL 5 2009-10-13 False B001264 Rep. Bright, Bobby [D-AL-2] Bobby Bright D AL 2 2009-10-13 False B001231 Rep. Berkley, Shelley [D-NV-1] SHELLEY BERKLEY D NV 1 2009-10-14 False B001252 Rep. Barrow, John [D-GA-12] John Barrow D GA 12 2009-11-02 False H001037 Rep. Herseth Sandlin, Stephanie [D-SD-At Large] Stephanie Herseth Sandlin D SD 0 2010-01-26 False K000369 Rep. Kissell, Larry [D-NC-8] Larry Kissell D NC 8 2010-09-14 False Finance and Financial Sector Civil actions and liability Consumer affairs Consumer credit Interest, dividends, interest rates User charges and fees Finance and Financial Sector 00 2009-05-21 Introduced in House 2009-09-04T20:19:36Z Payday Lending Reform Act of 2009 - Amends the Truth in Lending Act to require a creditor to make specified disclosures when making a payday loan to a consumer.

Prohibits a creditor from making a payday loan to any consumer unless: (1) specified notices are posted conspicuously in the creditor's public lending area, or, if the loan is made using the Internet, fax or other means, posted conspicuously on the creditor's public internet site relating to any such payday loan; and (2) the creditor offers the consumer an extended repayment plan that meets specified requirements.

Sets forth prohibited lender practices, including: (1) requiring a consumer to pay interest and fees that, combined, total more than 20 cents for every dollar loaned in connection with a payday loan; (2) threatening or seeking to have the consumer prosecuted criminally to collect the loan; and (3) taking or attempting to take an interest in any of the consumer's personal property to secure the loan.

Authorizes a consumer to cancel future payment obligations on a payday loan, without cost or finance charges, by: (1) informing the creditor in writing within two days after executing the loan agreement that the consumer wants to rescind the loan; and (2) returning to the creditor the cash amount of the loan principal.

]]> Payday Lending Reform Act of 2009 Display Title Payday Lending Reform Act of 2009 Official Title as Introduced To amend the Truth in Lending Act to establish additional protections for consumers with regard to payday loans, and for other purposes. Introduced in House IH Short Titles as Introduced Payday Lending Reform Act of 2009 Introduced in House 2009-05-21T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr2563ih/xml/BILLS-111hr2563ih.xml 2009-05-21 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.