Unsolicited Loan Act of 2019

Senate Bill 3036 - Unsolicited Loan Act of 2019: Overview, Status, and Impact

Hozzl · 2022-10-28T01:45:58Z

Explore the details of Senate Bill 3036 Unsolicited Loan Act of 2019 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

10/28/2022, 1:45 AM

Congressional Summary of S 3036

Unsolicited Loan Act of 2019

This bill prohibits a lender from providing an unsolicited loan check or similar instrument to a consumer. Additionally, a consumer is not liable for any debt incurred from such an instrument.

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Current Status of Bill S 3036

Bill S 3036 is currently in the status of Bill Introduced since December 12, 2019. Bill S 3036 was introduced during Congress 116 and was introduced to the Senate on December 12, 2019. Bill S 3036's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of December 12, 2019

Bipartisan Support of Bill S 3036

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 3036

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

- Administrative law and regulatory procedures

- Banking and financial institutions regulation

- Consumer Financial Protection Bureau

- Consumer credit

Alternate Title(s) of Bill S 3036

Unsolicited Loan Act of 2019

A bill 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.