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HR 2724 108th Congress House

Credit Bait and Switch Prevention Act

Official title: To amend the Fair Credit Reporting Act to prohibit the use of any information in any consumer report by any credit card issuer that is unrelated to the transac… Show full official titleShow less

Official title: To amend the Fair Credit Reporting Act to prohibit the use of any information in any consumer report by any credit card issuer that is unrelated to the transactions and experience of the card issuer with the consumer to increase the annual percentage rate applicable to credit extended to the consumer, and for other purposes.

Introduced: July 14, 2003 Introduced by: Sanders, Bernard Independent · Vermont See on congress.gov
Finance and Financial Sector CommerceConsumer creditConsumer educationConsumer protection
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Credit cardsInterest rates
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This bill died when the 108th Congress ended
It never became law before the 108th Congress (2003–2004) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 4, 2003
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Jul 14, 2003
Referred to the House Committee on Financial Services.
Jul 14, 2003
Introduced in House
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 Latest action August 4, 2003

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

 Plain-English summary Congressional Research Service

Credit Bait and Switch Prevention Act - Amends the Fair Credit Reporting Act to prohibit a credit card issuer from using any negative information contained in a consumer report to increase the annual percentage rate applicable to a credit card account, or to remove or increase any introductory annual percentage rate of interest applicable to such account, for reasons other than actions or omissions of the card holder that are directly related to such account.

Requires such prohibition to be clearly and conspicuously described to the consumer by the credit card issuer in any mandatory disclosure or statement.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 2
All 2 Democratic 2
D
Schakowsky, Janice D.
Illinois · Sep 13, 2004
 D
Norton, Eleanor Holmes
District of Columbia · Sep 17, 2003
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 2724: Credit Bait and Switch Prevention Act. 108th Congress. Open America. https://openamerica.io/bill/108-HR-2724/
MLA
"H.R. 2724: Credit Bait and Switch Prevention Act." 108th Congress, 2026, Open America, https://openamerica.io/bill/108-HR-2724/.
Bluebook (legal)
H.R. 2724, 108th Cong. (2026), https://openamerica.io/bill/108-HR-2724/.
Markdown link
[H.R. 2724: Credit Bait and Switch Prevention Act](https://openamerica.io/bill/108-HR-2724/)
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