Bills › 91st General Assembly
Relating to the maximum finance charge on a consumer credit sale
Sponsored by Rep. Jerome Amos Jr. (D), Rep. Sean Bagniewski (D), Rep. Jeff Cooling (D), Rep. Ken Croken (D), Rep. Tracy A. Ehlert (D), Rep. Lindsay James (D), Rep. Rob Johnson (D), Rep. Bob Kressig (D), Rep. Elinor A. Levin (D), Rep. Mary Lee Madison (D), Rep. Brian Meyer (D), Rep. Amy Nielsen (D), Rep. Rick L. Olson (D), Rep. J.D. Scholten (D), Rep. Dr. Megan L. Srinivas (D), Rep. Beth Wessel-Kroeschell (D), Rep. Ross Wilburn (D)
Topics:Business & economy
Where it is now
- Done: IntroducedMarch 4, 2025
- Stopped: SubcommitteeDied when the General Assembly ended
- Next: House committeeFunnel: by February 20, 2026
- Next: Passes the House
- Next: Senate committeeFunnel: by March 20, 2026
- Next: Passes the Senate
- Next: To the Governor
- Next: Signed into law
Died when the session ended The 2026 session adjourned on May 3, 2026, the General Assembly’s last regular session. Bills that didn’t pass both chambers died. What’s a funnel?
What’s in it
AI summary This law sets a limit on how much interest people can be charged when they borrow money for consumer purchases. It prevents lenders from charging more than a certain percentage per year on the amount a person still owes.1
Read the official explanation
This bill relates to the maximum finance charge for consumer credit sales. Under the bill, for consumer credit sales both pursuant to open-end credit and not pursuant to open-end credit, a finance charge may not exceed percent per year on the unpaid balance of the amount financed.