H.R. 5138 (108th): Fair Credit Card Interest Rate Act

Sep 23, 2004 (108th Congress, 2003–2004)
Died (Referred to Committee)
Chris Bell
Representative for Texas's 25th congressional district
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Last Updated
Sep 23, 2004
2 pages

This bill was introduced on September 23, 2004, in a previous session of Congress, but was not enacted.

Introduced Sep 23, 2004
Referred to Committee Sep 23, 2004
Full Title

To amend the Truth in Lending Act to establish an equitable ceiling on credit card interest rates, and for other purposes.


No summaries available.


House Financial Services

Financial Institutions and Consumer Credit

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Primary Source

THOMAS.gov (The Library of Congress)

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H.R. stands for House of Representatives bill.

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

Fair Credit Card Interest Rate Act - Amends the Truth in Lending Act to prohibit a creditor during any calendar quarter from imposing a finance charge under an open end consumer credit plan involving a credit card which results in an annual percentage rate greater than ten percentage points over the most recent composite prime rate published in the Wall Street Journal before the beginning of the ten-business-day period ending on the first day of such calendar quarter (thus setting a ceiling on credit card interest rates) .

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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