Amends the Truth in Lending Act to limit the rate of interest which may be charged on credit card accounts to not more than five percentage points higher than the discount rate on 90-day commercial paper in effect at the Federal Reserve district in which the card issuer is located.
Introduced in House
Introduced in House
Referred to House Committee on Banking, Finance and Urban Affairs.
Referred to Subcommittee on Consumer Affairs and Coinage.
Subcommittee Hearings Held.
Subcommittee Consideration and Mark-up Session Held.
Measure Defeated by Subcommittee on Consumer Affairs and Coinage.
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