Legislators
Bills
Statements
Lobbying
Travel
Searching...- Bills
- H.R.1640
H.R.1640: Interest Rate Reduction Act
About This Bill
- This bill was introduced in the 111th Congress
- This bill is primarily about finance and financial sector
- Introduced March 19, 2009
- Latest Major Action March 19, 2009
- See the one similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
18 (All Democrats)
Bill Summary
Interest Rate Reduction Act - Amends the Truth in Lending Act to prohibit the annual percentage rate of interest (APR) applicable to any extension of credit to a consumer from exceeding 15% on unpaid balances, inclusive of all finance charges. Authorizes the Board of Governors of the Federal Reserve System to establish an APR ceiling exceeding the 15% annual rate for periods not to exceed 18 months, upon a determination that: (1) money market...
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
|
Referred to the House Committee on Financial Services.
|
|
| March 19, 2009 |
Introduced in the House by Maurice D. Hinchey (D-N.Y.) |