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United States · Bill · HR

H.R. 1267 (100th)

Credit Card Interest Rate Limitation Act of 1987

referredUnited States· United States Congress· EN

Introduced

25 February 1987

Last action

—

Status

Referred to Subcommittee on Consumer Affairs and Coinage.

Sponsors

—

Subjects

Discovery layer

Source updated

28 August 2025

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Summary

Credit Card Interest Rate Limitation Act of 1987 - Amends the Truth in Lending Act to establish a national ceiling on credit card interest rates. Directs the Board of Governors of the Federal Reserve System to conduct a study of: (1) the relationship between credit card interest rates and the cost of extending such credit; and (2) the degree to which such interest rates reflected competition for new credit card accounts. Requires such report to be submitted to specified congressional committees by June 1, 1988. Provides that such ceiling shall not take effect if such study reveals that the credit rates are competitive with the cost of extending credit.

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1 official file

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