U.S. Congress - S.3259 Consumer Credit Fairness Act
S.3259 - Consumer Credit Fairness Act
A bill to amend title 11, United States Code, with respect to the priority of certain high cost credit debts. view all titles (2)
All Bill Titles
- Official: A bill to amend title 11, United States Code, with respect to the priority of certain high cost credit debts. as introduced.
- Short: Consumer Credit Fairness Act as introduced.
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Official Summary
7/14/2008--Introduced.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 iOfficial Summary
7/14/2008--Introduced.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 "high cost consumer credit transaction" 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.
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S.3259: Antitrust Criminal Penalties Enforcement ... - OpenCongress
Official government data, breaking news and blog coverage, public comments and user community for S.3259 Antitrust Criminal Penalties Enforcement and Reform Act of 2004 Extension Act of 2010. ... Or, if you know of a news article about this bill to display
S.3259: Antitrust Criminal Penalties Enforcement and Reform Act of ...
OpenCongress - U.S. Congress - S.3259 Antitrust Criminal Penalties Enforcement and Reform Act of 2004 Extension Act of 2010. Working... or Login with your OpenID. Click to ShowClick to Hide. Search. A non-profit, non-partisan public resource. Everyone can
Credit Slips: Bankruptcy in the Senate, December 4
One of the topics will be S. 3259, the Consumer Credit Fairness Act introduced by Senators Whitehouse and Durbin. This bill defines a "high cost consumer credit transaction" as one in which the interest and fees create an interest more ...
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