H.R. 2724 · 108th Congress
Credit Bait and Switch Prevention Act
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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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SandersSponsor12 cosponsors · 12 D
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Grijalva
EN
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Norton
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Filner
MMD
Meehan
CB
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Bell
JC
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Carson
EC
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Cummings
SJ
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Jackson Lee
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Lipinski
JS
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Schakowsky
MOD
Owens
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Fattah0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Credit Bait and Switch Prevention Act - Amends the Fair Credit Reporting Act to prohibit a credit card issuer from using any negative information contained in a consumer report to increase the annual percentage rate applicable to a credit card account, or to remove or increase any introductory annual percentage rate of interest applicable to such account,…
What it does: CRS summary · Introduced in House · Jul 14, 2003
Credit Bait and Switch Prevention Act - Amends the Fair Credit Reporting Act to prohibit a credit card issuer from using any negative information contained in a consumer report to increase the annual percentage rate applicable to a credit card account, or to remove or increase any introductory annual percentage rate of interest applicable to such account, for reasons other than actions or omissions of the card holder that are directly related to such account.
Requires such prohibition to be clearly and conspicuously described to the consumer by the credit card issuer in any mandatory disclosure or statement.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Credit Bait and Switch Prevention Act
Latest action (Aug 4, 2003): Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Jul 14, 2003
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.