H.R. 3117 — Credit Card Interest Rate Change Disclosure Act

Summary

Credit Card Interest Rate Change Disclosure Act - Amends the Truth in Lending Act prescriptions governing credit card accounts to mandate a 90-day advance notice to the consumer regarding: (1) any increase in the annual percentage rate of interest; or (2) any change in the index used to determine such rate of interest.

Prescribes guidelines under which a freeze is imposed upon interest rate terms and fees on cards canceled by the consumer as a result of such notice.

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Legislative Actions

1999-10-20
Introduced in House
1999-10-20
Introduced in House
1999-10-20
Referred to the House Committee on Banking and Financial Services.
1999-10-20
Referred to the Subcommittee on Financial Institutions and Consumer Credit.

Credit Card Interest Rate Change Disclosure Act

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Summary

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