HR 8106 · 96th Congress · Finance and Financial Sector
A bill to amend the Depository Institutions Deregulation and Monetary Control Act of 1980 to provide that any person may charge interest on any loan at a rate which is not more than 5 percent greater than the discount rate on ninety-day commercial paper which is in effect at the Federal Reserve bank in the Federal Reserve district in which such person is located.
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to House Committee on Banking, Finance and Urban Affairs.(1980-09-15)
Plain Language Summary
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Amends the Depository Institutions Deregulation and Monetary Control Act of 1980 to make the interest rate ceiling applicable to any loan rather than business or agricultural loans in excess of $25,000. Postpones the effective date of such ceiling until January 1, 1981.…
Summarized by Claude AI · Non-partisan · For informational purposes only