Truth in Lending Modernization Act of 1999

Summary

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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 25 March 1999

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 25 March 1999

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 25 March 1999

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.