US HB2930 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Democrat 10-0)
Status: Introduced on May 22 2019 - 25% progression, died in committee
Action: 2019-05-22 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on May 22 2019 - 25% progression, died in committee
Action: 2019-05-22 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Summary
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.
Title
Loan Shark Prevention Act
Sponsors
Rep. Alexandria Ocasio-Cortez [D-NY] | Rep. Bennie Thompson [D-MS] | Rep. Ayanna Pressley [D-MA] | Rep. Rashida Tlaib [D-MI] |
Rep. Ilhan Omar [D-MN] | Rep. Lacy Clay [D-MO] | Rep. Sheila Jackson-Lee [D-TX] | Rep. Nydia Velazquez [D-NY] |
Rep. Ro Khanna [D-CA] | Rep. Jose Serrano [D-NY] |
History
Date | Chamber | Action |
---|---|---|
2019-05-22 | House | Referred to the House Committee on Financial Services. |
2019-05-22 | House | Introduced in House |
Same As/Similar To
SB1389 (Same As) 2019-05-09 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Subjects
Civil actions and liability
Congressional oversight
Consumer credit
Federal Reserve System
Finance and financial sector
Interest, dividends, interest rates
Congressional oversight
Consumer credit
Federal Reserve System
Finance and financial sector
Interest, dividends, interest rates
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/house-bill/2930/all-info |
Text | https://www.congress.gov/116/bills/hr2930/BILLS-116hr2930ih.pdf |