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- S.393
S.393: Credit Card Minimum Payment Warning Act of 2005
About This Bill
- This bill was introduced in the 109th Congress
- This bill is primarily about law
- Introduced Feb. 16, 2005
- Latest Major Action Feb. 16, 2005
- See the one similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
4 (All Democrats)
Bill Summary
Credit Card Minimum Payment Warning Act of 2005 - 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...
(Source: Library of Congress)
What Lawmakers Are Saying About This Bill
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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Feb. 16, 2005 |
Introduced in the Senate by Daniel K. Akaka (D-Hawaii) |