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- S.1659
S.1659: Protecting Consumers from Unreasonable Credit Rates Act of 2017
About This Bill
- Introduced July 27, 2017
- Latest Major Action July 27, 2017
- See the eight similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
6 (All Democrats)
Bill Version
- Introduced in Senate - Aug. 4, 2017
Bill Summary
Protecting Consumers from Unreasonable Credit Rates Act of 2017 This bill 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%. The bill also sets forth criminal penalties for violations and empowers state Attorneys General to enforce the bill. Credit card billing statements must include the fee and...
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
| July 27, 2017 |
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S4429-4430)
|
| July 27, 2017 |
Introduced in the Senate by Richard J. Durbin (D-Ill.) |