US Congress House Bill 5130 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 50-0)
Status: Introduced on July 17 2014 - 25% progression, died in chamber
Action: 2014-09-18 - Committee on Banking, Housing, and Urban Affairs. Hearings held.
Text: Latest bill text (Introduced) [PDF]

Protecting Consumers from Unreasonable Credit Rates Act of 2014 - 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%. Sets forth criminal penalties for violations of this Act. Empowers state Attorneys General to enforce this Act. Revises requirements for a periodic statement for each billing cycle with respect to where the total finance charge exceeds 50 cents for a monthly or longer billing cycle, or the pro rata part of 50 cents for a billing cycle shorter than monthly. Requires inclusion of 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 2014

Rep. Matthew Cartwright [D-PA]	Rep. G. Butterfield [D-NC]	Rep. Michael Capuano [D-MA]	Rep. David Cicilline [D-RI]
Rep. Katherine Clark [D-MA]	Rep. Lacy Clay [D-MO]	Rep. James Clyburn [D-SC]	Rep. Steve Cohen [D-TN]
Rep. John Conyers [D-MI]	Rep. Elijah Cummings [D-MD]	Rep. Danny Davis [D-IL]	Rep. Peter DeFazio [D-OR]
Rep. Lloyd Doggett [D-TX]	Rep. Donna Edwards [D-MD]	Rep. Keith Ellison [D-MN]	Rep. Anna Eshoo [D-CA]
Rep. Elizabeth Esty [D-CT]	Rep. Chaka Fattah [D-PA]	Rep. Raul Grijalva [D-AZ]	Rep. Luis Gutierrez [D-IL]
Rep. Sheila Jackson-Lee [D-TX]	Rep. Eddie Johnson [D-TX]	Rep. Henry Johnson [D-GA]	Rep. Marcy Kaptur [D-OH]
Rep. Robin Kelly [D-IL]	Rep. Ron Kind [D-WI]	Rep. James Langevin [D-RI]	Rep. John Lewis [D-GA]
Rep. Zoe Lofgren [D-CA]	Rep. Alan Lowenthal [D-CA]	Rep. Michelle Lujan Grisham [D-NM]	Rep. Stephen Lynch [D-MA]
Rep. Michael Michaud [D-ME]	Rep. George Miller [D-CA]	Rep. Eleanor Norton [D-DC]	Rep. Chellie Pingree [D-ME]
Rep. Mark Pocan [D-WI]	Rep. David Price [D-NC]	Rep. Charles Rangel [D-NY]	Rep. Janice Schakowsky [D-IL]
Rep. Allyson Schwartz [D-PA]	Rep. Jose Serrano [D-NY]	Rep. Louise Slaughter [D-NY]	Rep. Eric Swalwell [D-CA]
Rep. Mark Takano [D-CA]	Rep. Paul Tonko [D-NY]	Rep. Niki Tsongas [D-MA]	Sen. Chris Van Hollen [D-MD]
Sen. Peter Welch [D-VT]	Rep. John Yarmuth [D-KY]

Date	Chamber	Action
2014-09-18	House	Committee on Banking, Housing, and Urban Affairs. Hearings held.
2014-07-17	House	Referred to the House Committee on Financial Services.

SB673 (Related) 2013-04-09 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text of measure as introduced: CR S2504-2505)

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/house-bill/5130/all-info
Text	https://www.congress.gov/113/bills/hr5130/BILLS-113hr5130ih.pdf