AMBRESH RANJAN US Fed News
WASHINGTON, July 24 -- Sen. Dick Durbin, D-Illinois, has introduced the Protecting Consumers from Unreasonable Credit Rates Act of 2008 (S. 3287), legislation that would "amend the Truth in Lending Act to establish a national usury rate for consumer credit transactions."
The bill was introduced on July 17. It was referred to the Senate Banking, Housing, and Urban Affairs Committee.
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