SB 505 – Creates penalties for imposing certain fees by a credit card issuer

• Sponsor: Dougherty
• LR Number: 1882S.01I
• Committee: Judiciary and Civil & Criminal Jurisprudence
• Last Action: 3/3/2005 - Second Read and Referred S Judiciary and Civil & Criminal Jurisprudence Committee
• Journal Page: S362
• Effective Date: August 28, 2005

Current Bill Summary

SB 505 - The act makes it a misdemeanor for any credit card issuer to charge any fees or increase any rates for a holder when the holder owes or fails to make timely payments to any other creditor.

ANDY LYSKOWSKI