3.0.0 3421 2023-01-11T20:37:21Z 2023-01-11T20:37:21Z House H HR 2007-08-03 110 hsba00 Financial Services Committee House Standing hsba15 Consumer Protection and Financial Institutions Subcommittee Referred to 2007-09-05T18:49:03Z Referred to 2007-08-03T13:09:35Z 2007-09-05 hsba15 Consumer Protection and Financial Institutions Subcommittee 1 House committee actions Referred to the Subcommittee on Financial Institutions and Consumer Credit. Committee 2007-08-03 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2007-08-03 Introduced in House IntroReferral Intro-H 9 Library of Congress 2007-08-03 Introduced in House IntroReferral 1000 9 Library of Congress L000480 Rep. Lowey, Nita M. [D-NY-18] NITA LOWEY D NY M. 18 N Finance and Financial Sector Commerce Consumer credit Consumer education Consumer protection Credit cards Debt Debtor and creditor Interest rates Finance and Financial Sector 00 2007-08-03 Introduced in House 2007-12-28T21:48:39Z Credit Protection Act of 2007 - Amends the Truth in Lending Act to prohibit a creditor from using adverse information concerning any consumer, including information in any consumer report or any change in the consumer's credit score, as the basis for increasing the annual percentage rate of interest (APR) or introductory APR applicable to a credit card account under an open end consumer credit plan for reasons other than actions or omissions of the consumer that are directly related to such account.

Requires conspicuous payment disclosures on a creditor's billing cycle statement, including: (1) the minimum monthly payment on the outstanding balance; (2) the number of months that it would take to pay the entire amount of the outstanding balance at the current APR if only the required minimum monthly payment is paid; and (3) the total cost to the consumer to pay the remaining balance.

]]> Credit Protection Act of 2007 Official Title as Introduced To amend the Truth in Lending Act to prohibit universal defaults on credit card accounts and to require minimum payment disclosures for accounts under an open end consumer credit plan, and for other purposes. Introduced in House IH Display Title Credit Protection Act of 2007 Short Titles as Introduced Credit Protection Act of 2007 Introduced in House 2007-08-03T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr3421ih/xml/BILLS-110hr3421ih.xml 2007-09-05 Referred to the Subcommittee on Financial Institutions and Consumer Credit. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.