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H.R. 5050 116th Congress House

Veterans and Consumers Fair Credit Act

Official title: To amend the Truth in Lending Act to extend the consumer credit protections provided to members of the Armed Forces and their dependents under title 10, United States Code, to all consumers.

Introduced: November 12, 2019 Introduced by: Jesús G. "Chuy" García Democratic · Illinois See on congress.gov
Finance and Financial Sector Administrative law and regulatory proceduresBanking and financial institutions regulationCivil actions and liabilityCongressional oversight
More subjectsShow fewer subjects
Consumer Financial Protection BureauConsumer affairsConsumer creditDepartment of DefenseFinancial services and investmentsGovernment information and archivesInterest, dividends, interest ratesMilitary personnel and dependentsState and local government operations
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) 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
Nov 12, 2019
Referred to the House Committee on Financial Services.
Nov 12, 2019
Sponsor introductory remarks on measure. (CR E1429)
Nov 12, 2019
Introduced in House
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 Latest action November 12, 2019

Referred to the House Committee on Financial Services.

 Plain-English summary Congressional Research Service

Veterans and Consumers Fair Credit Act

This bill applies certain military consumer credit protections to all consumers. Specifically, the bill caps the interest rate on extensions of consumer credit at 36%.

 Related & companion bills 2
  • S 2833 Identical bill Veterans and Consumers Fair Credit Act
  • HR 5974 Reintroduced Bill Veterans and Consumers Fair Credit Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 26
All 26 Democratic 17 Republican 1
D
Watson Coleman, Bonnie
New Jersey · Oct 27, 2020
 D
Beyer, Donald S.
Virginia · Oct 23, 2020
 D
Evans, Dwight
Pennsylvania · Oct 23, 2020
 D
Raskin, Jamie
Maryland · Oct 23, 2020
 D
Chu, Judy
California · Sep 23, 2020
 D
Pallone, Frank
New Jersey · Sep 23, 2020
Payne, Donald
· Sep 23, 2020
 D
Lieu, Ted
California · Jun 26, 2020
Eshoo, Anna
· Apr 10, 2020
Haaland, Debra
· Apr 3, 2020
 D
Norton, Eleanor Holmes
District of Columbia · Mar 2, 2020
 D
Bonamici, Suzanne
Oregon · Feb 25, 2020
 D
Cohen, Steve
Tennessee · Feb 25, 2020
COOPER, JAMES
· Feb 12, 2020
CLAY, WM.
· Feb 10, 2020
 D
Krishnamoorthi, Raja
Illinois · Jan 9, 2020
Lowenthal, Alan
· Dec 11, 2019
Blumenauer, Earl
· Dec 10, 2019
 D
Lofgren, Zoe
California · Dec 10, 2019
 D
Pocan, Mark
Wisconsin · Dec 10, 2019
 D
Sherman, Brad
California · Dec 10, 2019
MALONEY, CAROLYN
· Dec 5, 2019
 D
Tlaib, Rashida
Michigan · Dec 5, 2019
 D
Garcia, Sylvia R.
Texas · Nov 12, 2019
 D
Green, Al
Texas · Nov 12, 2019
 R
Grothman, Glenn
Wisconsin · Nov 12, 2019
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 5050: Veterans and Consumers Fair Credit Act. 116th Congress. Open America. https://openamerica.io/bill/116-HR-5050/
MLA
"H.R. 5050: Veterans and Consumers Fair Credit Act." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-HR-5050/.
Bluebook (legal)
H.R. 5050, 116th Cong. (2026), https://openamerica.io/bill/116-HR-5050/.
Markdown link
[H.R. 5050: Veterans and Consumers Fair Credit Act](https://openamerica.io/bill/116-HR-5050/)
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