Senator Sanders to introduce bill imposing 15% or lower consumer credit interest rate cap
CFPB Monitor
MAY 16, 2019
Senator Bernie Sanders recently announced that he will be introducing a bill, the “Loan Shark Prevention Act ,” that would amend the Truth in Lending Act (15 U.S.C. Prevailing interest rate levels threaten the safety and soundness of individual lenders, as evidenced by adverse trends in liquidity, capital, earnings, and growth.”.
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