HR 2930 · 116th Congress · Finance and Financial Sector
Loan Shark Prevention Act
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the House Committee on Financial Services.(2019-05-22)
Plain Language Summary
[AI summary unavailable — showing source text]
Loan Shark Prevention Act This bill limits the annual percentage rate for an extension of consumer credit to 15%. The Federal Reserve Board may raise this rate if (1) money market interest rates rise over six months, and (2) it is necessary to ensure the safety and soundness of lenders.…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (9)
9 Democrats