Predatory Lending Sunset Act

Referred to the House Committee on Financial Services.

Congressional Research Service

Official summary

Version 00 · Introduced in House · Jul 1, 2010

Predatory Lending Sunset Act - Amends the Truth in Lending Act to limit the maximum interest rate which a creditor may charge on a covered consumer credit loan of up to $3,000 to an annual percentage rate (APR) of 36%.

Prohibits a creditor from extending a covered loan with respect to which the creditor uses as security either: (1) access to a borrower's financial account; or (2) the title of a vehicle.

Amends the Electronic Fund Transfer Act to prohibit a remotely created check that: (1) is not created by the financial institution that holds the customer account from which the check is to be paid; and (2) does not bear a signature applied by the person from whose account the check is to be paid.

Declares unenforceable, with respect to any consumer, any contract made in violation of this Act.

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People & committees

Who introduced it

Rep. Giffords, Gabrielle [D-AZ-8] · D–AZ

Committees

Financial Services Committee

4 cosponsorship records, including any withdrawals

Legislative record

Actions

A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.

Jul 1, 2010
Referred to the House Committee on Financial Services.
Jul 1, 2010
Introduced in House
Jul 1, 2010
Introduced in House

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in House · Jul 1, 2010 Formatted Text PDF Formatted XML

Related bills identified by Congress.gov

No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.

Source last updated: Aug 14, 2025. Consult Congress.gov for the current record.

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Neutral evidence review

Objective

Analyze H.R.5689 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

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Discuss H.R.5689, 111th Congress: Predatory Lending Sunset Act

Official record: https://www.congress.gov/bill/111th-congress/house-bill/5689

Text version to examine: Introduced in House · 2010-07-01.

Official full text: https://www.congress.gov/111/bills/hr5689/BILLS-111hr5689ih.htm

Imported record last updated by the source: 2025-08-14T16:17:26Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze H.R.5689 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

Fairness and public impact

Progressive lens

Examine H.R.5689 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

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Discuss H.R.5689, 111th Congress: Predatory Lending Sunset Act

Official record: https://www.congress.gov/bill/111th-congress/house-bill/5689

Text version to examine: Introduced in House · 2010-07-01.

Official full text: https://www.congress.gov/111/bills/hr5689/BILLS-111hr5689ih.htm

Imported record last updated by the source: 2025-08-14T16:17:26Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.5689 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

Institutions and government scope

Conservative lens

Examine H.R.5689 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

View full prompt & sources

Discuss H.R.5689, 111th Congress: Predatory Lending Sunset Act

Official record: https://www.congress.gov/bill/111th-congress/house-bill/5689

Text version to examine: Introduced in House · 2010-07-01.

Official full text: https://www.congress.gov/111/bills/hr5689/BILLS-111hr5689ih.htm

Imported record last updated by the source: 2025-08-14T16:17:26Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.5689 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

Liberty lens

Examine H.R.5689 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss H.R.5689, 111th Congress: Predatory Lending Sunset Act

Official record: https://www.congress.gov/bill/111th-congress/house-bill/5689

Text version to examine: Introduced in House · 2010-07-01.

Official full text: https://www.congress.gov/111/bills/hr5689/BILLS-111hr5689ih.htm

Imported record last updated by the source: 2025-08-14T16:17:26Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.5689 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.