House Bill 5050
116th Congress(2019-2020)
Veterans and Consumers Fair Credit Act
Introduced
Introduced in House on Nov 12, 2019
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
5050
Congress
116
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
No House votes have been held for this bill.
Summary
Veterans and Consumers Fair Credit Act
This bill applies certain military consumer credit protections to all consumers. Specifically, the bill caps the interest rate on extensions of consumer credit at 36%.
November 12, 2019
11/12/2019
Referred to the House Committee on Financial Services.
11/12/2019
Sponsor introductory remarks on measure. (CR E1429)
11/12/2019
Introduced in House
Public Record
Record Updated
Nov 1, 2022 5:17:28 AM