HR 8055 · 95th Congress · Interest rates

National Usury Law

Introduced 1977-06-28· Sponsored by Rep. Allen, Clifford R. [D-TN-5]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Banking, Finance and Urban Affairs.(1977-06-28)

Plain Language Summary

[AI summary unavailable — showing source text] National Usury Law - Limits, to seven percent, the interest charge in connection with any credit or loan transaction entered into on or after December 31, 1980. Sets forth a schedule by which the maximum allowable interest charge shall be reduced from ten percent in six month steps by one-half percent per step.…

Summarized by Claude AI · Non-partisan · For informational purposes only