Bill116th CongressFiled May 22, 2019Finance and Financial Sector
H.R. 2930
Loan Shark Prevention Act
Bill journey · stage 2 of 5
Under committee review
FiledFiled
CommitteeComm.
PassedFloor
Both ChambersBoth
Became LawLaw
What it doesSummary introduced in house (May 22, 2019)
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.
What just happenedMay 22, 2019
Referred to the House Committee on Financial Services.
Who’s behind it
Rep. Ocasio-Cortez, Alexandria [D-NY-14](D-NY)Sponsor
9 cosponsors9 D
9cosponsors1committees3actions1related bills5subjects
- Introduced in HouseMay 22, 2019
- May 22, 2019IntroReferralH11100
Referred to the House Committee on Financial Services.
Financial Services Committee - May 22, 2019IntroReferralIntro-H
Introduced in House
- May 22, 2019IntroReferral1000
Introduced in House