3.0.0 5660 2023-01-11T13:39:46Z 2023-01-11T13:39:46Z House HR 2018-04-27 115 [Congressional Record Volume 164, Number 69 (Friday, April 27, 2018)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mrs. LOWEY:H.R. 5660.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 3United States Congress shall have the power to regulateCommerce with foreign Nations, and among the several states,and with the Indian Tribes.[Page H3743]]]> hsba00 Financial Services Committee House Standing Referred to 2018-04-27T13:01:20Z 2018-04-27 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2018-04-27 Introduced in House IntroReferral Intro-H 9 Library of Congress 2018-04-27 Introduced in House IntroReferral 1000 9 Library of Congress L000480 Rep. Lowey, Nita M. [D-NY-17] NITA LOWEY D NY M. 17 N Finance and Financial Sector Consumer credit Credit and credit markets Interest, dividends, interest rates Small business Finance and Financial Sector 00 2018-04-27 Introduced in House 2018-10-03T14:03:17Z Small Business Credit Card Act of 2018

This bill amends the Truth in Lending Act to extend to qualified small businesses credit card protections currently provided to consumers, including limitations and disclosures regarding fees and interest rates.

The bill defines "qualified small business" as any business concern having 50 or fewer employees, whether or not: (1) the credit card account is in the name of an individual or a business entity, and (2) any credit transaction involving such account is for business or personal purposes.

A qualified small business may elect to opt out of such coverage.

A creditor is prohibited from: (1) discriminating against a qualified small business in connection with any credit card account; or (2) requiring any qualified small business to make an opt-out election as a condition for opening a credit card account, or for providing more advantageous terms for such an account.

]]> Small Business Credit Card Act of 2018 Display Title Small Business Credit Card Act of 2018 Official Title as Introduced To amend the Truth in Lending Act to provide coverage under such Act for credit cards issued to small businesses, and for other purposes. Introduced in House IH Short Titles as Introduced Small Business Credit Card Act of 2018 Introduced in House 2018-04-27T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr5660ih/xml/BILLS-115hr5660ih.xml 2018-04-27 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.