HOUSE DOCKET, NO. 3791        FILED ON: 1/16/2009

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1014

The Commonwealth of Massachusetts

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In the Year Two Thousand Nine

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An Act limiting interest rates for credit cards                                                                                                        ..

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

SECTION 1. Section 5 of chapter 140D of the General Laws is hereby amended by adding the following subsection:-

(f) The maximum annual percentage rate to be approved by the commissioner shall not exceed 18 per cent.