US Congress House Bill 3760 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 23-0)
Status: Introduced on September 13 2017 - 25% progression, died in committee
Action: 2017-09-13 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]

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).

Protecting Consumers from Unreasonable Credit Rates Act of 2017

Rep. Matthew Cartwright [D-PA]	Rep. Steve Cohen [D-TN]	Rep. Stephen Lynch [D-MA]	Rep. Michael Capuano [D-MA]
Rep. Sheila Jackson-Lee [D-TX]	Rep. Robin Kelly [D-IL]	Rep. Elijah Cummings [D-MD]	Rep. James Langevin [D-RI]
Rep. Niki Tsongas [D-MA]	Rep. Eleanor Norton [D-DC]	Rep. Keith Ellison [D-MN]	Rep. Mark Pocan [D-WI]
Rep. Katherine Clark [D-MA]	Rep. Janice Schakowsky [D-IL]	Rep. Mark Takano [D-CA]	Rep. David Price [D-NC]
Rep. Anna Eshoo [D-CA]	Rep. Raul Grijalva [D-AZ]	Rep. John Yarmuth [D-KY]	Rep. Mark DeSaulnier [D-CA]
Rep. Peter DeFazio [D-OR]	Rep. Chellie Pingree [D-ME]	Rep. Zoe Lofgren [D-CA]

Date	Chamber	Action
2017-09-13	House	Referred to the House Committee on Financial Services.
2017-09-13	House	Introduced in House

SB1659 (Related) 2017-07-27 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S4429-4430)

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/3760/all-info
Text	https://www.congress.gov/115/bills/hr3760/BILLS-115hr3760ih.pdf