3.0.0 1309 2023-01-11T16:32:43Z 2023-01-11T16:32:43Z Senate S S 2007-05-03 110 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2007-05-03T22:34:45Z Universal Default Prohibition Act of 2007 110 2146 HR 2007-05-03 Referred to the House Committee on Financial Services. Identical bill CRS 2007-05-03 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2007-05-03 Introduced in Senate IntroReferral 10000 9 Library of Congress T000464 Sen. Tester, Jon [D-MT] Jon Tester D MT N S000033 Sen. Sanders, Bernard [I-VT] Bernard Sanders I VT 2007-12-04 False Finance and Financial Sector Commerce Consumer credit Credit cards Interest rates Finance and Financial Sector 00 2007-05-03 Introduced in Senate 2007-06-20T19:45:03Z Universal Default Prohibition Act of 2007 - Amends the Truth in Lending Act to prohibit a creditor from: (1) using any adverse information concerning any consumer, including any in a consumer report or any change in the consumer's credit score, as the basis for increasing any annual percentage rate of interest for a credit card account of the consumer's under an open end consumer credit plan; or (2) removing or increasing any introductory annual percentage rate of interest for that account, for reasons other than actions or omissions of the consumer directly related to the account.

Requires such limitation on the use of adverse information to be clearly and conspicuously described to the consumer by the credit card issuer.

]]> Universal Default Prohibition Act of 2007 Display Title Universal Default Prohibition Act of 2007 Official Title as Introduced A bill to amend the Truth in Lending Act to prohibit universal defaults on credit card accounts, and for other purposes. Introduced in Senate IS Short Titles as Introduced Universal Default Prohibition Act of 2007 Introduced in Senate 2007-05-03T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s1309is/xml/BILLS-110s1309is.xml 2007-05-03 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. 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.