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2/26/2009--Introduced.Payday Loan Reform Act of 2009 - Amends the Truth in Lending Act to require a creditor to make specified disclosures when making a payday loan to a consumer. Prohibits a creditor from making a payday loan to any consumer unless: (1) specified notices are posted conspicuously in English and Spanish in the creditor's public lending area, or, if the loan is made using the Internet, fax or other means, posted conspicuously on the creditor's public internet site relating to any such payday loan; and (2) the creditor offers the consumer an extended repayment plan that meets specified requirements. Sets forth prohibited lender practices, including: (1) requiring a consumer to pay interest and fees that, combined, total more than 15 cents for every dollar loaned in connection with a payday loan; (2) threatening or seeking to have the consumer prosecuted in criminal court to collect the loan; and (3) taking or attempting to take an interest in any of the consumer's personal property to secure the loan. Authorizes a consumer to cancel future payment obligations on a payday loan, without cost or finance charges, by: (1) informing the creditor in writing within two days after executing the loan agreement that the consumer wants to rescind the loan; and (2) returning to the creditor the cash amount of the loan principal. Empowers state attorneys general to enforce this Act.

1235624400 2009-02-26 Tue Jan 05 20:44:12 -0600 2010 introduced 55360 'act':7 'lend':6 'loan':12 'addit':10 'amend':2 'truth':4 'consum':19 'payday':11 'purpos':23 'requir':14 'protect':17 'disclosur':13 'establish':9 69228 false official introduced 55360 'act':4 '2009':6 'loan':2 'payday':1 'reform':3 69227 false short action 55360 1235624400 Thu Feb 26 00:00:00 -0600 2009 186891 Sponsor introductory remarks on measure. (CR E493-494) G000535 1953-12-10 3201 2266 Rayburn House Office Building http://www.house.gov/writerep 4 202-225-7810 Luis 'd':4 '-4':6 'il':5 'lui':2,7,9 'rep':1 'gutierrez':10 'gutiérrez':3,8 M 400163 Gutiérrez Luis_V._Gutierrez V. Rep. Luis Gutiérrez [D, IL-4] 1369 N00004874 10085 Democrat 202-225-8203 Roman Catholic IL Luis Gutierrez 1.41176470588235 http://luisgutierrez.house.gov/ action 55360 1235624400 Thu Feb 26 00:00:00 -0600 2009 186891 Sponsor introductory remarks on measure. (CR E493-494) action 55360 1235624400 Thu Feb 26 00:00:00 -0600 2009 185674 Referred to the House Committee on Financial Services. action 55360 1235624400 Thu Feb 26 00:00:00 -0600 2009 185673 Sponsor introductory remarks on measure. (E493-494) introduced 55360 1235624400 Thu Feb 26 00:00:00 -0600 2009 185672