To amend the Truth in Lending Act to prohibit the distribution of any check or other negotiable instrument as part of a solicitation by a creditor for an extension of credit, to limit the liability of consumers in conjunction with such solicitations, and for other purposes.
Declares that such consumers are not liable for the amount of any negotiable instrument sent in violation of this Act. Prohibits reporting to, or receipt by, any credit agency of information on consumer creditworthiness based upon such unsolicited loan checks.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
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