3.0.0 2930 2022-11-01T05:47:40Z 2022-11-01T05:47:40Z House HR 2019-05-22 116 [Congressional Record Volume 165, Number 86 (Wednesday, May 22, 2019)][House][Pages H4120-H4121]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. OCASIO-CORTEZ:H.R. 2930.[[Page H4121]]Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8]]> hsba00 Financial Services Committee House Standing Referred to 2019-05-22T14:05:30Z Loan Shark Prevention Act 116 1389 S 2019-05-09 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Identical bill CRS 2019-05-22 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2019-05-22 Introduced in House IntroReferral Intro-H 9 Library of Congress 2019-05-22 Introduced in House IntroReferral 1000 9 Library of Congress O000172 Rep. Ocasio-Cortez, Alexandria [D-NY-14] Alexandria Ocasio-Cortez D NY 14 N T000193 Rep. Thompson, Bennie G. [D-MS-2] BENNIE THOMPSON D MS 2 2019-05-22 True P000617 Rep. Pressley, Ayanna [D-MA-7] Ayanna Pressley D MA 7 2019-05-22 True T000481 Rep. Tlaib, Rashida [D-MI-13] Rashida Tlaib D MI 13 2019-05-22 True O000173 Rep. Omar, Ilhan [D-MN-5] Ilhan Omar D MN 5 2019-05-22 True C001049 Rep. Clay, Wm. Lacy [D-MO-1] WM. CLAY D MO LACY 1 2019-05-22 True J000032 Rep. Jackson Lee, Sheila [D-TX-18] SHEILA JACKSON LEE D TX 18 2019-05-22 True V000081 Rep. Velazquez, Nydia M. [D-NY-7] NYDIA VELAZQUEZ D NY M. 7 2019-05-22 True K000389 Rep. Khanna, Ro [D-CA-17] Ro Khanna D CA 17 2019-09-19 False S000248 Rep. Serrano, Jose E. [D-NY-15] JOSE SERRANO D NY E. 15 2020-02-06 False Finance and Financial Sector Civil actions and liability Congressional oversight Consumer credit Federal Reserve System Interest, dividends, interest rates Finance and Financial Sector 00 2019-05-22 Introduced in House 2020-01-16T22:30:00Z Loan Shark Prevention Act

This bill limits the annual percentage rate for an extension of consumer credit to 15%. The Federal Reserve Board may raise this rate if (1) money market interest rates rise over six months, and (2) it is necessary to ensure the safety and soundness of lenders.

]]> Loan Shark Prevention Act Display Title Loan Shark Prevention Act Official Title as Introduced To protect consumers from usury. Introduced in House IH Short Title(s) as Introduced Loan Shark Prevention Act Introduced in House IH Introduced in House 2019-05-22T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr2930ih/xml/BILLS-116hr2930ih.xml 2019-05-22 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.