,,ii  #aai? ,,congress  #a/ ,session    
,s4 #cefa  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,decemb] #ah1 #bjbe,mr4
 ,re$ 7= himself1 ,mr4 ,van ,holl51 ,mr4
 ,blum5?al1 & ,mrs4 ,gillibr&7 introduc$
 ! foll[+ bill2 :i* 0 read twice &      
ref]r$ to ! ,committee on ,bank+1 ,h\s+1
 & ,urban ,affairs  ,a ,,bill  ,to am5d 
! ,tru? 9 ,l5d+ ,act & ! ,consum]       
,f9ancial ,protection ,act ( #bjaj to   
apply c]ta9 protections & ov]sight to   
buy n[1 pay lat] loans1 & = o!r         
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,buy ,n[1 ,pay ,lat]       
,protection ,act ( #bjbe4  #b4          
,application ( ! ,tru? 9 ,l5d+ ,act to  
buy n[ pay lat] loans  7a7 ,9 g5]al ,!  
,tru? 9 ,l5d+ ,act 7#ae ,u4,s4,c4 #afja 
et seq47 is am5d$-- 7#a7 9 section #ajc 
7#ae ,u4,s4,c4 #afjb71 by add+ at ! end 
! foll[+3  7ff7 ,buy n[1 pay lat] loan  
,! t]m buy n[1 pay lat] loan means a    
clos$-end consum] loan = a retail       
transaction t-- 7#a7 is repaid 9 n m ?an
 #d int]e/-free in/allm5ts2 &  7#b7 does

 n impose a f9ance *>ge4  2  7#b7 9     
section #abg 7#ae ,u4,s4,c4 #afcg7--    
7,a7 9 subsection 7a71 by /rik+ "u an   
op5 end consum] cr$it plan & ins]t+ "u  
an op5 end consum] cr$it plan or a buy  
n[1 pay lat] loan ea* place x occurs2 & 
7,b7 9 subsection 7b71 by /rik+ "u an   
op5 end consum] cr$it plan & ins]t+ "u  
an op5 end consum] cr$it plan or a buy  
n[1 pay lat] loan ea* place x occurs2   
7#c7 9 section #agj 7#ae ,u4,s4,c4      
#afff;i7-- 7,a7 9 ! section head+1 by   
/rik+ ,rights ( cr$it c>d cu/om]s4 &    
ins]t+ ,rights ( cr$it c>d cu/om]s & buy
 n[1 pay lat] loan cu/om]s42  7,b7 9    
subsection 7a7-- 7i7 by /rik+ a c>d     
issu] :o has issu$ a cr$it c>d to a     
c>dhold] pursuant to an op5 end consum] 
cr$it plan & ins]t+ a c>d issu] :o has  
issu$ a cr$it c>d to a c>dhold] pursuant
 to an op5 end consum] cr$it plan or a  
cr$itor :o has provid$ a buy n[1 pay    
lat] loan to a consum]2  7ii7 by /rik+ 9
 :i* ! cr$it c>d & ins]t+ 9 :i* ! cr$it 
c>d or buy n[1 pay lat] loan2  7iii7 by 

/rik+ honor+ ! cr$it c>d & ins]t+ honor+
 ! cr$it c>d or buy n[1 pay lat] loan   
ea* place x occurs2  7iv7 by /rik+      
provid$ by ! c>dhold] & ins]t+ provid$  
by ! c>dhold] or consum]2  7v7 by /rik+ 
def5ses aga9/ a c>d issu] & ins]t+      
def5ses aga9/ a c>d issu] or cr$itor2   
7vi7 by /rik+ is ! same p]son z ! c>d   
issu] & ins]t+ is ! same p]son z ! c>d  
issu] or cr$itor2  7vii7 by /rik+ is    
controll$ by ! c>d issu]1 & ins]t+ is   
controll$ by ! c>d issu] or cr$itor12   
7viii7 by /rik+ common control ) ! c>d  
issu] & ins]t+ common control ) ! c>d   
issu] or cr$itor2  7ix7 by /rik+ 9 ! c>d
 issu]'s products & ins]t+ 9 ! c>d      
issu]'s or cr$itor's products2  7x7 by  
/rik+ by ! c>d issu] 9 :i* & ins]t+ by !
 c>d issu] or cr$itor 9 :i*2 &  7xi7 by 
/rik+ us+ ! cr$it c>d issu$ by ! c>d    
issu] & ins]t+ us+ ! cr$it c>d issu$ by 
! c>d issu] or ! buy n[1 pay lat] loan  
provid$ by ! cr$itor2 &  7,c7 9         
subsection 7b7-- 7i7 by /rik+ ass]t$ by 
! c>dhold] & ins]t+ ass]t$ by ! c>dhold]

 or consum]2  7ii7 by /rik+ at ! "t !   
c>dhold] fir/ notifies ! c>d issu] or ! 
p]son honor+ ! cr$it c>d ( su* claim or 
def5se & ins]t+ at ! "t ! c>dhold] or   
consum] fir/ notifies ! c>d issu] or    
cr$itor or ! p]son honor+ ! cr$it c>d or
 buy n[1 pay lat] loan ( su* claim or   
def5se2 &  7iii7 by /rik+ ! c>dhold]'s  
acc\nt & ins]t+ ! c>dhold]'s acc\nt or !
 consum]'s buy n[1 pay lat] loan acc\nt2
  7#d7 9 section #afa 7#ae ,u4,s4,c4    
#afff7-- 7,a7 9 subsection 7a71 9 !     
matt] prec$+ p>agraph 7#a71 by /rik+ 9  
connection ) an ext5sion ( consum]      
cr$it1 & ins]t+ 9 connection ) an       
ext5sion ( consum] cr$it1 includ+ a buy 
n[1 pay lat] loan12 &  7,b7 9 subsection
 7d71 by /rik+ an op5 end consum] cr$it 
plan & ins]t+ an op5 end consum] cr$it  
plan or a buy n[1 pay lat] loan2 &  7#e7
 9 section #aga7;a7 7#ae ,u4,s4,c4      
#afff;i-#a71 by /rik+ ,9 ! case ( any   
cr$it c>d acc\nt "u an op5 end consum]  
cr$it plan & ins]t+ ,9 ! case ( any     
cr$it c>d acc\nt "u an op5 end consum]  

cr$it plan or buy n[1 pay lat] loan4    
7b7 ,rulemak+ ,n lat] ?an #a ye> aft] ! 
date ( enactm5t ( ?is ,act1 ! ,consum]  
,f9ancial ,protection ,bureau %all issue
 su* rules z ! ,bureau det]m9es necess>y
 to c>ry out ! am5dm5ts made by         
subsection 7a74  #c4 ,f$]al sup]vision (
 buy n[1 pay lat] loan l5d]s ,section   
#ajbd7;a77#a7 ( ! ,consum] ,f9ancial    
,protection ,act ( #bjaj 7#ab ,u4,s4,c4 
#eead7;a77#a77 is am5d$-- 7#a7 9        
subp>agraph 7,d71 by /rik+ 2 or & ins]t+
 a semicolon2  7#b7 9 subp>agraph 7,e71 
by /rik+ ! p]iod at ! end & ins]t+ 2 or2
 &  7#c7 by add+ at ! end3  7,f7 (f]s or
 provides to a consum] a buy n[1 pay    
lat] loan1 z def9$ 9 section #ajc ( !   
,tru? 9 ,l5d+ ,act 7#ae ,u4,s4,c4       
#afjb74  4