Limit Credit Card Fees by Requiring Monthly Credit Card Billing

Last updated: May 2, 2021

Details about this bill
Category: General Business
Status: Defeated
Sponsor: Senator David Miramant, Senate 12 - Knox County
Session: 130
Bill #: LD 1119

Position:

Monitoring.

Summary:

Senator Miramant of Knox would require the issuer of a credit card to bill once per month a holder of a credit card who has a balance due on that credit card. The bill provides that the issuer of a credit card may not bill more than once per month such a holder. The issuer of a credit card that bills such a holder more than 12 times in a calendar year forfeits the balance on that holder's credit card.