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H.R. 3299: Protecting Consumers’ Access to Credit Act of 2017

About the bill

Source: Republican Policy Committee

H.R. 3299 amends the Revised Statutes, the Home Owners’ Loan Act, the Federal Credit Union Act, and the Federal Deposit Insurance Act to require the rate of interest on certain loans remain unchanged regardless of whether a bank has subsequently sold or assigned the loan to a third party.

In 2015, the United States Court of Appeals for the Second Circuit (Second Circuit) decided in Madden v. Midland Funding, LLC (Madden) that while the National Bank Act (NBA) allowed a federally chartered bank to charge interest under the laws ...

Sponsor and status

Patrick McHenry

Sponsor. Representative for North Carolina's 10th congressional district. Republican.

Read Text »
Last Updated: Feb 15, 2018
Length: 6 pages

Jul 19, 2017


Passed House (Senate next) on Feb 14, 2018

This bill passed in the House on February 14, 2018 and goes to the Senate next for consideration.


37% chance of being enacted according to Skopos Labs (details)


Jul 19, 2017

Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.

Nov 14, 2017
Considered by House Committee on Financial Services

A committee held a hearing or business meeting about the bill.

Nov 15, 2017
Ordered Reported

A committee has voted to issue a report to the full chamber recommending that the bill be considered further. Only about 1 in 4 bills are reported out of committee.

Jan 30, 2018
Reported by House Committee on Financial Services

A committee issued a report on the bill, which often provides helpful explanatory background on the issue addressed by the bill and the bill's intentions.

Feb 7, 2018
On House Schedule

The House indicated that this bill would be considered in the week ahead.

Feb 14, 2018
Passed House (Senate next)

The bill was passed in a vote in the House. It goes to the Senate next.

Passed Senate

Signed by the President

H.R. 3299 is a bill in the United States Congress.

A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.

How to cite this information.

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“H.R. 3299 — 115th Congress: Protecting Consumers’ Access to Credit Act of 2017.” 2017. March 22, 2018 <>

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