To amend the Emergency Economic Stabilization Act of 2008 to limit the annual percentage rate of interest that may be charged by recipients of financial assistance under such Act with respect to consumer credit card accounts, and for other purposes.
Interest Rate Equity Act or the IRE Act - Amends the Emergency Economic Stabilization Act of 2008 to prohibit any financial institution that receives assistance under the Troubled Asset Relief Program (TARP) from charging its customers more than 18% interest on credit card accounts.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
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