United States · Bill · S
S. 2730 (118th)
Protecting Consumers from Unreasonable Credit Rates Act of 2023
Introduced
6 September 2023
Last action
—
Status
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sponsors
—
Subjects
Discovery layer
Source updated
14 January 2025
Summary
Protecting Consumers from Unreasonable Credit Rates Act of 2023 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).
This text is taken from the official record. PoliticalRepo does not editorialize.
Timeline
No timeline events have been ingested for this record yet.
Votes
No vote records are attached yet.
Versions
No version snapshots stored. Document URLs remain at the source.
Documents
3 official files
Introduced in Senate (text)
Introduced in Senate (text)
Introduced in Senate · EN · 6 September 2023
Introduced in Senate (PDF)
Introduced in Senate · EN · 6 September 2023
Introduced in Senate
summary · EN · 6 September 2023
Sponsors
No sponsors or actors listed by the source.
Related records
No cross-record relationships stored yet.
Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/118th-congress/senate-bill/2730
- Open data entity: https://api.congress.gov/v3/bill/118/s/2730