United States · Bill · S
S. 1389 (116th)
Loan Shark Prevention Act
Introduced
9 May 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
5 December 2025
Summary
Loan Shark Prevention Act This bill limits the annual percentage rate for an extension of consumer credit to 15%. The Federal Reserve Board may raise this rate if (1) money market interest rates rise over six months, and (2) it is necessary to ensure the safety and soundness of lenders.
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Versions
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Documents
3 official files
Introduced in Senate (text)
Introduced in Senate (text)
Introduced in Senate · EN · 9 May 2019
Introduced in Senate (PDF)
Introduced in Senate · EN · 9 May 2019
Introduced in Senate
summary · EN · 9 May 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/1389
- Open data entity: https://api.congress.gov/v3/bill/116/s/1389