,,ii  #aaith ,,congress  #ast ,session  
,s4 #cha  ,,in ,,the ,,senate ,,of ,,the
 ,,united ,,states  ,february #d1       
#bjbe,mr4 ,sanders 7for himself and ,mr4
 ,hawley7 introduced the following bill2
 which was read twice and referred to   
the ,committee on ,banking1 ,housing1   
and ,urban ,affairs  ,a ,,bill  ,to     
amend the ,truth in ,lending ,act to cap
 credit card interest rates at #aj      
percent4  #a4 ,short title ,this ,act   
may be cited as the #aj ,percent ,credit
 ,card ,interest ,rate ,cap ,act4  #b4  
,cap on credit card interest rates  7a7 
,in general ,section #ajg of the ,truth 
in ,lending ,act 7#ae ,u4,s4,c4 #afjf7  
is amended by adding at the end the     
following3  7f7 7#a7 ,the annual        
percentage rate applicable to an        
extension of credit obtained by use of a
 credit card may not exceed #aj         
percentage points1 inclusive of all     
finance charges4  7#b7 ,any fees that   
are not considered finance charges under
 section #ajf7;a7 may not be used to    

evade the limitations of paragraph 7#a71
 and the total sum of such fees may not 
exceed the total amount of finance      
charges assessed4  7#c7 ,the taking1    
receiving1 reserving1 or charging of a  
credit card annual percentage rate or   
fee greater than that permitted under   
this subsection1 when knowingly done1   
shall be deemed a violation of this     
title1 and a forfeiture of the entire   
interest which the note1 bill1 or other 
evidence of the obligation carries with 
it1 or which has been agreed to be paid 
thereon4  7#d7 ,if a credit card annual 
percentage rate or fee greater than that
 permitted under this subsection has    
been paid1 the person by whom it has    
been paid1 or the legal representative  
thereof1 may1 by bringing an action not 
later than #b years after the date on   
which the usurious collection was last  
made1 recover back from the lender in an
 action in the nature of an action of   
debt1 the entire amount of interest1    
finance charges1 or fees paid4  7#e7    

,any creditor who violates this         
subsection shall be subject to the      
provisions of section #acj4  7g7        
,nothing in this section may be         
construed to preempt any provision of   
,state law that provides greater        
protection to consumers than is provided
 under this section4  4  7b7 ,technical 
and conforming amendment ,section       
#acj7;a7 of the ,truth in ,lending ,act 
7#ae ,u4,s4,c4 #afdj7;a77 is amended1 in
 the matter preceding paragraph 7#a71 by
 inserting section #ajg7;f71 before this
 chapter4  7c7 ,sunset  7#a7 ,in general
 ,the ,truth in ,lending ,act 7#ae      
,u4,s4,c4 #afja et seq47 is amended--   
7,a7 in section #ajg 7#ae ,u4,s4,c4     
#afjf71 by striking subsections 7f7 and 
7g72 and  7,b7 in section #acj7;a7 7#ae 
,u4,s4,c4 #afdj7;a771 in the matter     
preceding paragraph 7#a71 by striking   
section #ajg7;f714  7#b7 ,effective date
 ,the amendments made by paragraph 7#a7 
shall take effect on ,january #a1 #bjca4