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7/14/2008--Introduced.<br/>Consumer Credit Fairness Act - Amends federal bankruptcy law governing equitable subordination of claims in a bankruptcy case to: (1) subordinate a claim arising from a high cost consumer credit transaction to all other claims; and (2) require transfer to the estate in bankruptcy of any lien securing a subordinated claim. Defines &quot;high cost consumer credit transaction&quot; as an extension of credit by a creditor resulting in a consumer debt with an applicable annual percentage rate (APR), including related costs and fees, that exceeds the lesser of: (1) the sum of 15% and the yield on U.S. Treasury securities having a 30-year period of maturity; or (2) 36%. Excludes a debtor's petition for relief resulting from a high cost consumer credit transaction from mandatory consideration for dismissal, or conversion to a case under chapter 11 or 13, based upon a finding of substantial abuse.<br/>

1216008000 2008-07-14 Fri Nov 07 19:06:08 -0600 2008 introduced 51626 '11':6 'bill':2 'code':9 'cost':18 'debt':20 'high':17 'titl':5 'unit':7 'amend':4 'state':8 'credit':19 'certain':16 'respect':11 'prioriti':14 62084 false official introduced 51626 'act':4 'fair':3 'consum':1 'credit':2 63462 false short introduced 51626 1216008000 Mon Jul 14 00:00:00 -0500 2008 166075 W000802 5051 502 Hart Senate Office Building http://whitehouse.senate.gov/contact/ 202-228-6362 Sheldon 'd':4 'ri':5 'sen':1 'sheldon':2,6,8 'whitehous':3,7,9 M 412247 Whitehouse Sheldon_Whitehouse Sen. Sheldon Whitehouse [D, RI] 2198 N00027533 9074 Democrat 202-224-2921 RI Sheldon Whitehouse 3.5 http://whitehouse.senate.gov/ SenatorWhitehouse D000563 1944-11-21 8057 309 Hart Senate Office Building http://durbin.senate.gov/contact.cfm 202-228-0400 Richard 'd':4 'il':5 'sen':1 'durbin':3,7,9 'richard':2,6,8 M 300038 Durbin Richard_Durbin J. Sen. Richard Durbin [D, IL] 4406 N00004981 16913 Democrat 202-224-2152 Roman Catholic IL Dick Richard Durbin 3.90384615384615 http://durbin.senate.gov introduced 51626 1216008000 Mon Jul 14 00:00:00 -0500 2008 166075 action 51626 1216008000 Mon Jul 14 00:00:00 -0500 2008 166076 Read twice and referred to the Committee on the Judiciary.