S. 1347 · 109th Congress
Low-Cost Alternatives to Payday Loans Act
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
AkakaSponsorNo cosponsors.
Low-Cost Alternatives to Payday Loans Act - Authorizes the Secretary of the Treasury to award demonstration project grants (including multi-year grants) to eligible entities to provide low-cost, small loans to consumers that will provide alternatives to more costly, predatory payday loans.
What it does: CRS summary · Introduced in Senate · Jun 30, 2005
Low-Cost Alternatives to Payday Loans Act - Authorizes the Secretary of the Treasury to award demonstration project grants (including multi-year grants) to eligible entities to provide low-cost, small loans to consumers that will provide alternatives to more costly, predatory payday loans.
Includes within eligible entities: (1) a tax exempt charitable (501(c)(3)) organization; (2) a federally insured depository institution; and (3) a community development financial institution.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Low-Cost Alternatives to Payday Loans Act
Latest action (Feb 28, 2006): Sponsor introductory remarks on measure. (CR S1530-1531)
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Jun 30, 2005
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.