An amendment numbered 16 printed in Part A of House Report 116-79 to add a quarterly reporting requirement that CFPB provide Congress with the number of investigations opened and closed relating to payday/car-title lenders, how many enforcement actions taken, an estimate of how much in fees payday/car-title customers paid, how many times in the previous 12 months a payday customer rolled over their loan, and how many car title loan borrowers lost their car in the previous 12 months.

1. 1

   Change 1: Inserts “(decreased by $10,000,000)” after the second dollar amount

   InsertsPage 40, line 8Printed page

   Inserted: (decreased by $10,000,000)

   Original wording

   Page 40, line 8, after the second dollar figure insert “(decreased by $10,000,000)”.

2. 2

   Change 2: Adds SEC. 9. REPORT ON PAYDAY LOAN AND CAR-TITLE LOAN INVESTIGATIONS AND ENFORCEMENT ACTIONS on page 40, line 8

   Adds a sectionPrinted page

   Inserted: SEC. 9. REPORT ON PAYDAY LOAN AND CAR-TITLE LOAN INVESTIGATIONS AND ENFORCEMENT ACTIONS.

   Inserted: Section 1016 of the Consumer Financial Protection Act of 2010 (12 U.S.C. 5496) is amended by adding at the end the following:

   Inserted: "(d) Report on Payday Loan and Car-title Loan Investigations and Enforcement Actions.--The Director shall issue a quarterly report to Congress containing--

   Inserted: "(1) the number of investigations opened and closed by the Bureau relating to payday loans and car-title loans;

   Inserted: "(2) the number of enforcement actions that have been taken or referred relating to payday loans and car-title loans;

   Inserted: "(3) an estimate of the amount of fees customers have paid relating to payday loans and car-title loans;

   Inserted: "(4) an estimate of the number of times in the previous 12 months a typical payday loan customer has rolled over their loan; and

   Inserted: "(5) an estimate of how many car-title loan customers lost their car in the previous 12 months.".

   Original wording

   Page 40, after line 8, insert the following:

3. 3

   Change 3: Replaces “sec. 9” with “sec. 10”

   ReplacesPage 40, line 9Printed page

   [struck: sec. 9][inserted: sec. 10]

   Original wording

   Page 40, line 9, strike “sec. 9” and insert “sec. 10”.

Read automatically from the Congressional Record. Check the original before relying on it.

As printed