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AL HB631
Bill
Status
Introduced
2/25/2010
Primary Sponsor
James Gordon
Click for details
AI Summary
HB631 Summary
- Prohibits banks from increasing interest rates or lowering credit lines on issued credit cards more than once every 12 months.
- Applies to banks as defined in subdivision (1) of Section 5-1A-2, Code of Alabama 1975.
- Becomes effective on the first day of the third month following passage and approval by the Governor, or upon otherwise becoming law.
Legislative Description
Credit cards, banks issuing, increasing interest rates or lowering credit lines prohibited more than once every 12 months
Banks and Banking
Last Action
Read for the first time and referred to the House of Representatives committee on Banking and Insurance
2/25/2010
Committee Referrals
Banking and Insurance2/25/2010
Full Bill Text
No bill text available