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S.187: Deceptive Loan Check Elimination Act

About this Bill

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Sponsor Jeff Merkley, D-Ore.
Total Cosponsors 2 (All Democrats)
Introduced Jan. 30, 2013
Latest Major Action Jan. 30, 2013
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Bill Progress

  • Bill introduced in the Senate   
  • Bill passed in the Senate   
  • Bill passed in the House   
  • Bill signed into law

Bill Summary

Deceptive Loan Check Elimination Act - Amends the Truth in Lending Act (TILA) to prohibit a person from extending any consumer credit through the use by the consumer of a check or other negotiable instrument sent by the creditor to solicit an extension of consumer credit, unless the consumer has requested it in writing.

States that a nonnegotiable instrument that has the appearance of a negotiable instrument in connection with a solicitation for an extension of credit is not an application or request for purposes of this Act.

Shields a consumer from liability for: (1) the principal amount of a negotiable instrument sent in violation of this Act; or (2) any interest, fee, or penalty charged in connection with such negotiable instrument.

Prohibits any information relating to the liability of a consumer alleged by a creditor to have been established through a negotiable instrument sent in violation of this Act from being either reported to or received by any co...

(Source: Congressional Research Service)

Bill Actions

Date Description
Jan. 30, 2013 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.