3.0.0 6977 2019-11-15T20:56:30Z 2019-11-15T20:56:30Z House H HR 2008-09-18 110 hsba00 Financial Services Committee House Standing Referred to 2008-09-18T14:03:35Z 2008-09-18 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2008-09-18 Introduced in House IntroReferral Intro-H 9 Library of Congress 2008-09-18 Introduced in House IntroReferral 1000 9 Library of Congress T000266 Rep. Tierney, John F. [D-MA-6] JOHN TIERNEY D MA F. 6 N S001145 Rep. Schakowsky, Janice D. [D-IL-9] JANICE SCHAKOWSKY D IL D. 9 2008-09-29 False Finance and Financial Sector Consumer affairs Consumer credit Interest, dividends, interest rates User charges and fees Finance and Financial Sector 00 2008-09-18 Introduced in House 2008-12-11T15:31:29Z Loan Shark Prevention Act - Amends the Truth in Lending Act to limit: (1) the annual percentage rate (APR) applicable to any extension of credit to a maximum of 8 percentage points above the interest rate on tax underpayments established under the Internal Revenue Code; and (2) the amount of any fee or charge that a creditor may impose, under the terms of a credit transaction, to $15.

Declares that, in the case of any credit card account under an open end consumer credit plan, no fee (including any annual fee, late payment fee, or over-the-limit fee) may be imposed on such account until 30 days after the obligor receives a specific notice of the imposition of such fee.

Requires such a notice to explain how, when, and why a fee will be imposed and what options the obligor may have for addressing the fee or any reason for it, including the prevention of any future imposition of such fee.

]]> Loan Shark Prevention Act Short Titles as Introduced Loan Shark Prevention Act Display Title Loan Shark Prevention Act Official Title as Introduced To amend the Truth in Lending Act to protect consumers from usury and unreasonable fees, and for other purposes. Introduced in House 2008-09-18T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr6977ih/xml/BILLS-110hr6977ih.xml 2008-09-18 Referred to the House Committee on Financial Services. 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.