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H.R. 7188: Tax Refund Anticipation Loan Consumer Protection Act

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H.R. 7188: Tax Refund Anticipation Loan Consumer Protection Act

110th Congress · introduced 2008-09-27 · Finance and Financial Sector · Latest: Referred to the House Committee on Financial Services.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2008-09-27 · official record
  2. Who proposed it: Rep. McCarthy, Carolyn [D-NY-4] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Referred to the House Committee on Financial Services. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Tax Refund Anticipation Loan Consumer Protection Act

Plain summary

Tax Refund Anticipation Loan Consumer Protection Act - Amends the Truth in Lending Act to prescribe advertising and disclosure requirements for tax refund anticipation loans. Prohibits an advertisement for an income tax refund anticipation loan from: (1) describing such a loan as a tax refund or rebate; or (2) advertising or soliciting tax preparation services as including the possibility of obtaining an immediate or rapid income tax refund or rebate if the refund or rebate involves an income tax refund anticipation loan origination. Requires an advertisement for an income tax refund anticipation loan to disclose: (1) fees imposed by the originator in connection with the loan origination; (2) the applicable annual percentage rate (APR) and fees; and (3) the name of the creditor if other than the originator. Sets forth contract and disclosure requirements for income tax refund anticipation loan origination services. Instructs the Board of Governors of the Federal Reserve System to publish model disclosure forms to implement this Act.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Tax Refund Anticipation Loan Consumer Protection Act

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. McCarthy, Carolyn [D-NY-4] · 0 cosponsors

Cost estimate: No cost estimate published yet.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Sources

Record fed-us-cong110-hr7188 · catalog fed-us-congress-bills-cong110 · updated 2026-11-15 by psicol fed-bills-cong110