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- S.1230
S.1230: Protecting Consumers from Unreasonable Credit Rates Act of 2019
About This Bill
- Introduced April 29, 2019
- Latest Major Action April 29, 2019
- See the eight similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
3 (All Democrats)
Bill Version
- Introduced in Senate - April 29, 2019
Bill Summary
Protecting Consumers from Unreasonable Credit Rates Act of 2019 This bill prohibits a creditor from extending credit to a consumer under an open end consumer credit plan (i.e., 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 interest rate, displayed as...
(Source: Library of Congress)
Bill Actions
Date | Description |
---|---|
April 29, 2019 |
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
|
April 29, 2019 |
Introduced in the Senate by Richard J. Durbin (D-Ill.) |