HR 2351 · 106th Congress · Finance and Financial Sector
Unsolicited Loan Check Consumer Protection Act of 1999
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the Subcommittee on Financial Institutions and Consumer Credit.(1999-07-15)
Plain Language Summary
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Unsolicited Loan Check Consumer Protection Act of 1999 - Amends the Consumer Credit Protection Act to prohibit loan solicitations to consumers that are accompanied by a negotiable instrument (unsolicited loan checks), unless such solicitations are in response to a prior consumer request for an extension of credit. Shields such consumer from liability for the amount of any negotiable instrument sent in violation of this Act. Prohibits the reporting to, or receipt by, any credit agency of information on consumer creditworthiness based upon such unsolicited loan checks. Requires the Federal Reserve Board to promulgate implementing regulations.…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (11)
11 Democrats