S.1927 - Credit Card Rate Freeze Act of 2009111th Congress (2009-2010)
|Sponsor:||Sen. Dodd, Christopher J. [D-CT] (Introduced 10/26/2009)|
|Latest Action:||Senate - 10/27/2009 Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 189. (All Actions)|
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Summary: S.1927 — 111th Congress (2009-2010)All Information (Except Text)
Introduced in Senate (10/27/2009)
Credit Card Rate Freeze Act of 2009 - Prohibits a creditor, during a specified nine-month period, from: (1) increasing any annual percentage rate (APR), fee, or finance charge applicable to any outstanding balance of any credit card account under an open end consumer credit plan; or (2) changing the terms governing repayment of any outstanding balance, except as permitted by the Credit Card Accountability Responsibility and Disclosure Act of 2009.
Authorizes the Board of Governors of the Federal Reserve System to prescribe implementing regulations.