Voice your opinion on congressional bill S2730-118 and let lawmakers know your stance with UnPac!

Protecting Consumers from Unreasonable Credit Rates Act of 2023

This bill prohibits a creditor from extending credit to a consumer under an open end consumer credit plan (i.e., credit card) for which the fee and interest rate exceeds 36%. The bill also sets forth criminal penalties for violations and empowers state Attorneys General to enforce the bill.

Credit card billing statements must include the fee and interest rate, displayed as FAIR, instead of the total finance charge expressed as an annual percentage rate (APR).

Senate Actions

IntroReferral
Sep. 06 2023	Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Library of Congress Actions

IntroReferral
Sep. 06 2023	Introduced in Senate

Senate bill S2730-118

Protecting Consumers from Unreasonable Credit Rates Act of 2023

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