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- S.2349
S.2349: Protecting Consumers from Unreasonable Credit Rates Act of 2021
About This Bill
- Introduced July 14, 2021
- Latest Major Action July 14, 2021
- See the eight similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
3 (All Democrats)
Bill Version
- Introduced in Senate - July 14, 2021
Bill Summary
Protecting Consumers from Unreasonable Credit Rates Act of 2021 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 FAIR,...
(Source: Library of Congress)
Bill Actions
Date | Description |
---|---|
July 14, 2021 |
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
|
July 14, 2021 |
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text: CR S4903-4904)
|
July 14, 2021 |
Introduced in the Senate by Richard J. Durbin (D-Ill.) |