United States · Bill · S
S. 1659 (115th)
Protecting Consumers from Unreasonable Credit Rates Act of 2017
Introduced
27 July 2017
Last action
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Status
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S4429-4430)
Sponsors
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Subjects
Discovery layer
Source updated
6 December 2025
Summary
Protecting Consumers from Unreasonable Credit Rates Act of 2017 This bill amends the Truth in Lending Act to prohibit a creditor from extending credit to a consumer under an open end consumer credit plan (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 (text)
Introduced in Senate · EN · 4 August 2017
Introduced in Senate (PDF)
Introduced in Senate · EN · 4 August 2017
Introduced in Senate
summary · EN · 27 July 2017
Sponsors
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Sources
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- Official source: https://www.congress.gov/bill/115th-congress/senate-bill/1659
- Open data entity: https://api.congress.gov/v3/bill/115/s/1659