Home > Federal Government > H.R.5988
Chief Sponsor:

Maurice D. Hinchey

Tagged in: Consumer credit, Consumer protection, Consumers, Credit cards, Finance, Interest rates

Latest Update: Friday, January, 16th 2009

To amend the Truth in Lending Act to impose a cap on the rate of interest that may be charged on consumer credit card accounts, and for other purposes.

5/7/2008--Introduced.

Fair and Justifiable Credit Card Interest Rate Act of 2008 - Amends the Truth in Lending Act to prohibit the annual percentage rate applicable to any extension of credit on a credit card account under an open end consumer credit plan from exceeding 20%.

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Latest Actions
  • 05/07/2008 - Referred to the House Committee on Financial Services.