Truth in Lending Modernization Act of 1999

[AI summary unavailable — showing source text] Truth in Lending Modernization Act of 1999 - Amends the Consumer Credit Protection Act to: (1) apply consumer credit information and disclosure requirements to all credit and lease transactions involving real and personal property in which the total amount financed exceeds $50,000 (currently $25,000); and (2) increase the civil penalties for creditor violations of such requirements. Amends the Housing and Community Development Act of 1992 to eliminate the Rule of 78s accounting method for calculating refunds of unearned interest on credit transactions consummated after September 30, 1999 (currently, September 30, 1993). Directs the Board of Governors of the Federal Reserve System to issue final regulations implementing this Act.…