Limit Credit Card Fees by Requiring Monthly Credit Card Billing
| 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.