H.R. 1619 · 109th Congress
Loan Shark Prevention Act
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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SandersSponsor24 cosponsors · 24 D
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Meehan18 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Loan Shark Prevention Act - Amends the Truth in Lending Act to set a cap upon: (1) the annual percentage rate applicable to any extension of credit; and (2) the amount of any fee or charge that a creditor may impose under the terms of a credit transaction.
What it does: CRS summary · Introduced in House · Apr 13, 2005
Loan Shark Prevention Act - Amends the Truth in Lending Act to set a cap upon: (1) the annual percentage rate applicable to any extension of credit; and (2) the amount of any fee or charge that a creditor may impose under the terms of a credit transaction.
Amends the Fair Credit Reporting Act to prohibit a credit card issuer from using 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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Loan Shark Prevention Act
Latest action (May 19, 2005): Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Apr 13, 2005
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.