Senator Sanders to introduce bill imposing 15% or lower consumer credit interest rate cap
CFPB Monitor
MAY 16, 2019
1606) (TILA) to establish a “national consumer credit usury rate” that would limit the APR “applicable to any extension of credit” to the lesser of “15 percent on unpaid balances, inclusive of all finance charges” or “the maximum rate permitted by the laws of the State in which the consumer resides” (Sanders Bill). First of Omaha Corp.,
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