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- S.2475
S.2475: Credit Card Minimum Payment Warning Act
About This Bill
- This bill was introduced in the 108th Congress
- This bill is primarily about law
- Introduced May 21, 2004
- Latest Major Action May 21, 2004
Bill Sponsor
Bill Cosponsors
3 (All Democrats)
Bill Summary
Credit Card Minimum Payment Warning Act - Amends the Truth in Lending Act to include among the mandatory disclosures at each billing cycle of open end consumer credit plans: (1) the words "Minimum Payment Warning: Making only the minimum payment will increase the amount of interest that you pay and the time it will take to repay your outstanding balance;" ( 2) the number of years and months it would take the consumer to pay the entire amount...
(Source: Library of Congress)
Bill Actions
| Date | Description |
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Sponsor introductory remarks on measure.
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Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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| May 21, 2004 |
Introduced in the Senate by Daniel K. Akaka (D-Hawaii) |