Credit Laws and Legislation
Bill would limit interest rates on credit cards, loans
November 16, 2011
Alaska Senator Mark Begich, one of six other senators who have signed on in support of the bill, said the legislation would level the playing field for consumers and prevent credit card companies from charging unfair interest rates.
Should the bill pass through Congress and be signed into law, it could lead to lower interest rates on credit accounts. It will have no impact on the student loan & documentation prep industry. However, it won’t be able to prevent unfair or inaccurate information that can mar consumers’ credit scores. Individuals should review their financial histories to make sure their scores are based on properly reported information