S. 3287 · 110th Congress
Protecting Consumers from Unreasonable Credit Rates Act of 2008
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
DurbinSponsor1 cosponsor · 1 D
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Protecting Consumers from Unreasonable Credit Rates Act of 2008 - Amends the Truth in Lending Act to prohibit a creditor from making an extension of credit to a consumer with respect to which the annual percentage credit rate (APR) exceeds 36%.
What it does: CRS summary · Introduced in Senate · Jul 17, 2008
Protecting Consumers from Unreasonable Credit Rates Act of 2008 - Amends the Truth in Lending Act to prohibit a creditor from making an extension of credit to a consumer with respect to which the annual percentage credit rate (APR) exceeds 36%.
Includes within such APR all charges payable directly or indirectly incident to, ancillary to, or as a condition of the extension of credit.
States that any payment in violation of this Act is null, void, and unenforceable.
Prescribes civil and criminal penalties for violations of this Act. Empowers states' Attorneys General to enforce it.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Protecting Consumers from Unreasonable Credit Rates Act of 2008
Latest action (Jul 17, 2008): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S6941-6942)
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: Jul 17, 2008
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.