US HB5050 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Democrat 26-1)
Status: Introduced on November 12 2019 - 25% progression, died in committee
Action: 2019-11-12 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on November 12 2019 - 25% progression, died in committee
Action: 2019-11-12 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Applies certain military consumer credit protections to all consumers. Specifically, the bill caps the interest rate on extensions of consumer credit at 36%.
Title
Veterans and Consumers Fair Credit Act
Sponsors
| Rep. Jesus Garcia [D-IL] | Rep. Glenn Grothman [R-WI] | Rep. Sylvia Garcia [D-TX] | Rep. Al Green [D-TX] |
| Rep. Rashida Tlaib [D-MI] | Rep. Carolyn Maloney [D-NY] | Rep. Zoe Lofgren [D-CA] | Rep. Earl Blumenauer [D-OR] |
| Rep. Brad Sherman [D-CA] | Rep. Mark Pocan [D-WI] | Rep. Alan Lowenthal [D-CA] | Rep. Raja Krishnamoorthi [D-IL] |
| Rep. Lacy Clay [D-MO] | Rep. Jim Cooper [D-TN] | Rep. Suzanne Bonamici [D-OR] | Rep. Steve Cohen [D-TN] |
| Rep. Eleanor Norton [D-DC] | Rep. Debra Haaland [D-NM] | Rep. Anna Eshoo [D-CA] | Rep. Ted Lieu [D-CA] |
| Rep. Judy Chu [D-CA] | Rep. Frank Pallone [D-NJ] | Rep. Donald Payne [D-NJ] | Rep. Don Beyer [D-VA] |
| Rep. Jamie Raskin [D-MD] | Rep. Dwight Evans [D-PA] | Rep. Bonnie Coleman [D-NJ] |
History
| Date | Chamber | Action |
|---|---|---|
| 2019-11-12 | House | Referred to the House Committee on Financial Services. |
| 2019-11-12 | House | Sponsor introductory remarks on measure. (CR E1429) |
| 2019-11-12 | House | Introduced in House |
Same As/Similar To
SB2833 (Related) 2019-11-12 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Subjects
Administrative law and regulatory procedures
Banking and financial institutions regulation
Civil actions and liability
Congressional oversight
Consumer affairs
Consumer credit
Consumer Financial Protection Bureau
Department of Defense
Finance and financial sector
Financial services and investments
Government information and archives
Interest, dividends, interest rates
Military personnel and dependents
State and local government operations
Banking and financial institutions regulation
Civil actions and liability
Congressional oversight
Consumer affairs
Consumer credit
Consumer Financial Protection Bureau
Department of Defense
Finance and financial sector
Financial services and investments
Government information and archives
Interest, dividends, interest rates
Military personnel and dependents
State and local government operations
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/116th-congress/house-bill/5050/all-info |
| Text | https://www.congress.gov/116/bills/hr5050/BILLS-116hr5050ih.pdf |
