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H.R. 3299 (115th): Protecting Consumers’ Access to Credit Act of 2017

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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.

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Last Updated: Feb 15, 2018
Length: 6 pages
Introduced
Jul 19, 2017
115th Congress, 2017–2019
Status
Died in a previous Congress

This bill was introduced in a previous session of Congress and was passed by the House on February 14, 2018 but was never passed by the Senate.

Source

History

Jul 19, 2017
 
Introduced

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.

H.R. 3299 (115th) was 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.

This bill was introduced in the 115th Congress, which met from Jan 3, 2017 to Jan 3, 2019. Legislation not enacted by the end of a Congress is cleared from the books.

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“H.R. 3299 — 115th Congress: Protecting Consumers’ Access to Credit Act of 2017.” www.GovTrack.us. 2017. September 17, 2019 <https://www.govtrack.us/congress/bills/115/hr3299>

Where is this information from?

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