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HOUSE DOCKET, NO. 1065         FILED ON: 1/16/2013

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1598

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Tom Sannicandro

_______________

To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
              Court assembled:

              The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act to protect consumers from usurious rates on credit cards.

_______________

PETITION OF:

 

Name:

District/Address:

Tom Sannicandro

7th Middlesex

Chris Walsh

6th Middlesex


HOUSE DOCKET, NO. 1065        FILED ON: 1/16/2013

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1598

By Mr. Sannicandro of Ashland, a petition (accompanied by bill, House, No. 1598) of Tom Sannicandro and Chris Walsh relative to restricting legal action against certain credit card consumers .  The Judiciary. 

 

[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE HOUSE, NO. 496 OF 2011-2012.]


The Commonwealth of Massachusetts
 

_______________

In the Year Two Thousand Thirteen

_______________

 

An Act to protect consumers from usurious rates on 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:
 

              When there is a collection action against a consumer for collection on a credit card, the credit card company can collect up to the usuary rate and no more.

              Any change of terms to the credit card contract must be counter signed by the consumer in order to be effective.

              Any legal action involving a credit card contract, that claims to have charged an interest rate in excess of the usury rate, shall be barred from being heard in Massachusetts State Courts.

              Under any action for a credit card company, brought in Massachusett, Massachusetts Law shall control.

              If a credit card company has charged a usurious rate on a credit card, the statute of limitations is hereby changed to 30 days.

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