United States · Bill · S
S. 1230 (116th)
Protecting Consumers from Unreasonable Credit Rates Act of 2019
Introduced
29 April 2019
Last action
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Status
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sponsors
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Subjects
Discovery layer
Source updated
7 April 2025
Summary
Protecting Consumers from Unreasonable Credit Rates Act of 2019 This bill prohibits a creditor from extending credit to a consumer under an open end consumer credit plan (i.e., credit card) for which the fee and interest rate exceeds 36%. The bill also sets forth criminal penalties for violations and empowers state Attorneys General to enforce the bill. Credit card billing statements must include the fee and interest rate, displayed as "FAIR," instead of the total finance charge expressed as an annual percentage rate (APR).
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Documents
3 official files
Introduced in Senate (text)
Introduced in Senate · EN · 29 April 2019
Introduced in Senate (PDF)
Introduced in Senate · EN · 29 April 2019
Introduced in Senate
summary · EN · 29 April 2019
Sponsors
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Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/116th-congress/senate-bill/1230
- Open data entity: https://api.congress.gov/v3/bill/116/s/1230