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HR 1619 109th Congress House

Loan Shark Prevention Act

Official title: To amend the Truth in Lending Act to protect consumers from usury and unreasonable fees, and for other purposes.

Introduced: April 13, 2005 Introduced by: Sanders, Bernard Independent · Vermont See on congress.gov
Finance and Financial Sector CommerceConsumer creditConsumer educationConsumer protection
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Credit cardsDebtor and creditorFinance chargesInterest ratesUsury
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This bill died when the 109th Congress ended
It never became law before the 109th Congress (2005–2006) 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
May 19, 2005
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Apr 13, 2005
Referred to the House Committee on Financial Services.
Apr 13, 2005
Introduced in House
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 Latest action May 19, 2005

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

 Plain-English summary Congressional Research Service

Loan Shark Prevention Act - Amends the Truth in Lending Act to set a cap upon: (1) the annual percentage rate applicable to any extension of credit; and (2) the amount of any fee or charge that a creditor may impose under the terms of a credit transaction.

Amends the Fair Credit Reporting Act to prohibit a credit card issuer from using 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.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 5
All 5 Democratic 3
D
McCollum, Betty
Minnesota · Jun 7, 2005
KILPATRICK, CAROLYN
· Apr 13, 2005
 D
McGovern, James P.
Massachusetts · Apr 13, 2005
 D
Schakowsky, Janice D.
Illinois · Apr 13, 2005
WEINER, ANTHONY
· Apr 13, 2005
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1619: Loan Shark Prevention Act. 109th Congress. Open America. https://openamerica.io/bill/109-HR-1619/
MLA
"H.R. 1619: Loan Shark Prevention Act." 109th Congress, 2026, Open America, https://openamerica.io/bill/109-HR-1619/.
Bluebook (legal)
H.R. 1619, 109th Cong. (2026), https://openamerica.io/bill/109-HR-1619/.
Markdown link
[H.R. 1619: Loan Shark Prevention Act](https://openamerica.io/bill/109-HR-1619/)
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