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United States · Bill · HR

H.R. 3408 (99th)

Credit Card Interest Rate Limitation Act of 1985

openUnited States· United States Congress· EN

Introduced

20 September 1985

Last action

29 October 1985 · Committee

Status

Subcommittee Hearings Held.

Sponsors

Sen. Schumer, Charles E. [D-NY], Rep. Morrison, Bruce A. [D-CT-3], Rep. Roemer, Buddy [D-LA-4], Rep. Mrazek, Robert J. [D-NY-3], Rep. Savage, Gus [D-IL-2], Rep. Jones, Walter B. [D-NC-1], Rep. Kleczka, Gerald D. [D-WI-4], Rep. Hayes, Charles A. [D-IL-1], Rep. Bentley, Helen Delich [R-MD-2], Sen. Boxer, Barbara [D-CA], Rep. Evans, Lane [D-IL-17], Rep. Williams, Pat [D-MT-At Large], Rep. Rangel, Charles B. [D-NY-15], Rep. Dyson, Roy [D-MD-1], Sen. Dorgan, Byron L. [D-ND], Rep. Collins, Cardiss [D-IL-7], Rep. Price, Melvin [D-IL-21], Rep. Murphy, Austin J. [D-PA-20], Rep. Mitchell, Parren J. [D-MD-7], Rep. Howard, James J. [D-NJ-3], Rescom. Fuster, Jamie B. [D-PR-At Large], Rep. Saxton, Jim [R-NJ-3], Rep. Hughes, William J. [D-NJ-2], Rep. Leland, Mickey [D-TX-18], Rep. Kastenmeier, Robert W. [D-WI-2], Rep. Martinez, Matthew G. [D-CA-31], Rep. Seiberling, John F. [D-OH-14], Rep. Gejdenson, Sam [D-CT-2], Rep. Conte, Silvio O. [R-MA-1], Rep. Shaw, E. Clay, Jr. [R-FL-22], Sen. Durbin, Richard J. [D-IL], Rep. Dellums, Ronald V. [D-CA-9], Rep. Owens, Major R. [D-NY-11], Rep. Miller, George [D-CA-11], Rep. Scheuer, James H. [D-NY-8], Rep. Garcia, Robert [D-NY-18], Rep. Donnelly, Brian J. [D-MA-11], Rep. Pursell, Carl D. [R-MI-2], Rep. Panetta, Leon [D-CA-16], Del. de Lugo, Ron [D-VI-At Large], Rep. Davis, Robert W. [R-MI-11], Rep. Brown, George E., Jr. [D-CA-42], Rep. Solarz, Stephen J. [D-NY-13], Rep. Weiss, Ted [D-NY-17], Sen. Fowler, Wyche, Jr. [D-GA]

Subjects

Discovery layer

Source updated

29 August 2025

Official sourceView documentsShare

Summary

Credit Card Interest Rate Limitation Act of 1985 - 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, 1986. Provides that such ceiling shall not take effect if such study reveals that the credit rates are competitive with the cost of extending credit.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 20 September 1985

    Referred

    Referred to Subcommittee on Consumer Affairs and Coinage.

    Source: Committee

  2. 20 September 1985

    Introduced

    Referred to House Committee on Banking, Finance and Urban Affairs.

    Source: IntroReferral

  3. 20 September 1985

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 20 September 1985

    Introduced

    Introduced in House

    Source: IntroReferral

  5. 29 October 1985

    Committee

    Subcommittee Hearings Held.

    Source: Committee

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

Leesvertaling

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Sponsors

Related records

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Sources

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