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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

Protecting Consumers' Access to Credit Act of 2016

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend the Revised Statutes of the United States and the Federal Deposit Insurance Act to require the rate of interest on certain loans remain unchanged after transfer of the loan, and for other purposes.

Actions Overview (1)

Date Actions Overview
07/11/2016Introduced in House

All Actions (2)

Date All Actions
07/11/2016Referred to the House Committee on Financial Services.
Action By: House of Representatives
07/11/2016Introduced in House
Action By: House of Representatives

Cosponsors (0)

No cosponsors.

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Related Documents
House Financial Services07/11/2016 Referred to

No related bill information was received for H.R.5724.

Subjects (4)

Latest Summary (1)

There is one summary for H.R.5724. View summaries

Shown Here:
Introduced in House (07/11/2016)

Protecting Consumers' Access to Credit Act of 2016

This bill amends the Revised Statutes and the Federal Deposit Insurance Act to state that bank loans that are valid when made as to their maximum rate of interest in accordance with federal law shall remain valid with respect to that rate regardless of whether a bank has subsequently sold or assigned the loan to a third party. (Under these laws, interest may be charged on loans to customers at the greater of: (1) a rate not more than 1% above the discount rate on 90-day commercial paper in effect at the Federal Reserve Bank for the district in which the lender is located, or (2) the highest rate allowed by the laws of the state in which the lender is located.)