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- S.500
S.500: Protecting Consumers from Unreasonable Credit Rates Act of 2009
About This Bill
- This bill was introduced in the 111th Congress
- This bill is primarily about finance and financial sector
- Introduced Feb. 26, 2009
- Latest Major Action Feb. 26, 2009
- See the eight similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
4 (All Democrats)
Bill Summary
Protecting Consumers from Unreasonable Credit Rates Act of 2009 - Amends the Truth in Lending Act to prohibit a creditor from extending credit to a consumer under an open end consumer credit plan (credit card) for which the fee and interest rate exceeds 36%. Sets forth criminal penalties for violation of this Act. Empowers state Attorneys General to enforce this Act. Revises requirements for a periodic statement for each billing cycle with...
(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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Feb. 26, 2009 |
Introduced in the Senate by Richard J. Durbin (D-Ill.) |