HR 4132
103th Congress
House
Commerce
Consumer protection
Credit cards
Finance and Financial Sector
Interest rates
Credit Card Interest Rate Cap Act of 1994
Introduced: March 24, 1994
See on congress.gov
Everywhere this bill has been
4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 7, 1994
Referred to the Subcommittee on Consumer Credit and Insurance.
Mar 24, 1994
Referred to the House Committee on Banking, Finance + Urban Affrs.
Mar 24, 1994
Sponsor introductory remarks on measure. (CR E559)
Mar 24, 1994
Introduced in House
Plain-English summary
Credit Card Interest Rate Cap Act of 1994 - Expresses the sense of the Congress that: (1) low interest rates have reduced interest rates for consumer loans; (2) such low rates have not led to corresponding steep reductions in credit card interest rates; and (3) consumers are therefore paying credit card interest rates far in excess of what is warranted by economic conditions.
Amends the Truth in Lending Act to prescribe a formula for a maximum credit card interest rate.
What's happening now
Referred to the Subcommittee on Consumer Credit and Insurance.
Committees of jurisdiction
2
Cosponsors
1