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- H.R.2930
H.R.2930: Loan Shark Prevention Act
About This Bill
- Introduced May 22, 2019
- Latest Major Action May 22, 2019
Bill Sponsor
Bill Cosponsors
9 (All Democrats)
Bill Version
- Introduced in House - May 22, 2019
Bill Summary
Loan Shark Prevention Act This bill limits the annual percentage rate for an extension of consumer credit to 15%. The Federal Reserve Board may raise this rate if (1) money market interest rates rise over six months, and (2) it is necessary to ensure the safety and soundness of lenders.
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
| May 22, 2019 |
Referred to the House Committee on Financial Services.
|
| May 22, 2019 |
Introduced in the House by Alexandria Ocasio-Cortez (D-N.Y.) |