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- S.1395
S.1395: Stop Unfair Practices in Credit Cards Act of 2007
About This Bill
- This bill was introduced in the 110th Congress
- This bill is primarily about congress
- Introduced May 15, 2007
- Latest Major Action May 15, 2007
Bill Sponsor
Bill Cosponsors
10 (10 Democrats, 1 Independent Democrat)
Bill Summary
Stop Unfair Practices in Credit Cards Act of 2007 - Amends the Truth in Lending Act regarding open-end consumer credit plans. Prohibits imposition of an interest charge upon debt paid on time and in full. Sets restrictions upon interest rate increases. Limits penalty rate increases to: (1) seven percentage points above the current interest rate; and (2) future credit extensions only. Prohibits interest charges on fees. Specifies restrictions...
(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 15, 2007 |
Introduced in the Senate by Carl Levin (D-Mich.) |