SB 117 (BR 1207) - T. Shaughnessy
AN ACT relating to credit cards.
Create a new section of KRS Chapter 367 to define terms pertaining to credit card transactions; prohibit a credit card issuer from increasing the applicable annual percentage rate or imposing fees on the account of a credit card holder, who has made all payments in compliance with the terms of the card holder agreement, due to the holder's indebtedness or failure to make timely payments to any other creditor or due to any negative information in the holder's consumer report about acts or omissions of the holder not directly related to the credit card account; deem violations of this Act an unfair, false, misleading, or deceptive act or practice in the conduct of trade or commerce in violation of KRS 367.170; provide for civil liability; make applicable to credit cards issued or renewed on or after July 1, 2005.
Feb 3-introduced in Senate
Feb 8-to Banking and Insurance (S)
Feb 9-reported favorably, 1st reading, to Consent Calendar
Feb 10-2nd reading, to Rules
Feb 17-recommitted to Appropriations and Revenue (S)