,,ii  #aaf? ,,congress  #a/ ,session    
,s4 #achi  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,may #i1 #bjai,mr4     
,s&]s 7= himself & ,mr4 ,:iteh\se7      
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,bank+1 ,h\s+1 & ,urban ,affairs  ,a    
,,bill  ,to protect consum]s f usury4   
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,loan ,%>k ,prev5tion ,act4  #b4      
,int]e/ rate r$uction  7a7 ,national    
consum] cr$it usury rate ,section #ajg (
 ! ,tru? 9 ,l5d+ ,act 7#ae ,u4,s4,c4    
#afjf7 is am5d$ by add+ at ! end !      
foll[+ new subsection3  7f7 ,national   
consum] cr$it usury rate  7#a7          
,limitation e/abli%$  7,a7 ,9 g5]al     
,not)/&+ subsection 7a7 or any o!r      
provision ( law1 b except z provid$ 9   
p>agraph 7#b71 ! annual p]c5tage rate   
applicable to any ext5sion ( cr$it may n
 exce$ ! less] (-- 7i7 #ae p]c5t on     
unpaid balances1 inclusive ( all f9ance 
*>ges2 or  7ii7 ! maximum rate p]mitt$  
by ! laws ( ! ,/ate 9 :i* ! consum]     

resides4  7,b7 ,o!r fees ,any fees t are
 n consid]$ f9ance *>ges "u section     
#ajf7;a7 may n be us$ to evade !        
limitations ( ?is p>agraph1 & ! total   
sum ( su* fees may n exce$ ! total am\nt
 ( f9ance *>ges assess$4  7#b7          
,exceptions  7,a7 ,bo>d au?ority ,!     
,bo>d may e/abli%1 aft] consultation ) !
 appropriate committees ( ,congress1 !  
,secret>y ( ! ,treasury1 & any o!r      
int]e/$ ,f$]al f9ancial in/itution      
regulatory ag5cy1 an annual p]c5tage    
rate ( int]e/ ceil+ exce$+ ! #ae-p]c5t  
annual rate "u p>agraph 7#a7 = p]iods ( 
n to exce$ #ah mon?s1 ^u a det]m9ation  
t-- 7i7 money m>ket int]e/ rates h ris5 
ov] ! prec$+ #f-mon? p]iod2 &  7ii7     
prevail+ int]e/ rate levels ?reat5 !    
safety & s\ndness ( individual l5d]s1 z 
evid5c$ by adv]se tr5ds 9 liquidity1    
capital1 e>n+s1 & gr[?4  7,b7 ,treatm5t 
( cr$it unions ,! limitation 9 p>agraph 
7#a7 does n apply ) respect to any      
ext5sion ( cr$it by an insur$ cr$it     
union1 z t t]m is def9$ 9 section #aja (

 ! ,f$]al ,cr$it ,union ,act 7#ab       
,u4,s4,c4 #ageb74  7#c7 ,p5alties = *>g+
 high] rates  7,a7 ,violation ,! tak+1  
receiv+1 res]v+1 or *>g+ ( an annual    
p]c5tage rate or fee great] ?an t       
p]mitt$ by p>agraph 7#a71 :5 kn[+ly     
done1 %all be deem$ a violation ( ?is   
title1 & a =feiture ( ! entire int]e/   
:i* ! note1 bill1 or o!r evid5ce ( !    
obligation c>ries ) x1 or :i* has be5   
agre$ to be paid !reon4  7,b7 ,refund ( 
int]e/ am\nts ,if an annual p]c5tage    
rate or fee great] ?an t p]mitt$ "u     
p>agraph 7#a7 has be5 paid1 ! p]son by  
:om x has be5 paid1 or ! legal          
repres5tative !re(1 may1 by br++ an     
action n lat] ?an #b ye>s aft] ! date on
 :i* ! usuri\s collection 0 la/ made1   
recov] back f ! l5d] 9 an action 9 !    
nature ( an action ( debt1 ! entire     
am\nt ( int]e/1 f9ance *>ges1 or fees   
paid4  7#d7 ,civil liability ,any       
cr$itor :o violates ?is subsection %all 
be subject to ! provisions ( section    
#acj4  7g7 ,relation to ,/ate law ,no?+ 

9 ?is section may be con/ru$ to preempt 
any provision ( ,/ate law t provides    
great] protection to consum]s ?an is    
provid$ 9 ?is section4  4  7b7 ,civil   
liability con=m+ am5dm5t ,section       
#acj7;a7 ( ! ,tru? 9 ,l5d+ ,act 7#ae    
,u4,s4,c4 #afdj7;a77 is am5d$ by ins]t+ 
section #ajg7;f71 be=e ?is *apt]4