118th Congress · SENATE BILLBILL

S. 3549 — Predatory Lending Elimination Act

“A bill to amend the Truth in Lending Act to extend the consumer credit protections provided to members of the Armed Forces and their dependents under title 10, United States Code, to all consumers.”

Finance and financial sector

Introduced Dec 14, 2023

Last action Dec 14, 2023

Pipeline · Bill → Law

Step 1

Introduced

Dec 14, 2023

Step 2

Referred

Dec 14, 2023

Banking, Housing, and Urban Affairs

Step 3

Committee

Step 4

Senate

Step 5

House floor

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

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%.

Provisions · 2 sectionsIntroduced in Senate

Timeline · 2 actions

Dec 14, 2023

Introduced in Senate

Dec 14, 2023

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.