Credit Bait and Switch Prevention Act

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

Congressional Research Service

Official summary

Version 00 · Introduced in House · Jul 14, 2003

Credit Bait and Switch Prevention Act - Amends the Fair Credit Reporting Act to prohibit a credit card issuer from using any negative information contained in a consumer report to increase the annual percentage rate applicable to a credit card account, or to remove or increase any introductory annual percentage rate of interest applicable to such account, for reasons other than actions or omissions of the card holder that are directly related to such account.

Requires such prohibition to be clearly and conspicuously described to the consumer by the credit card issuer in any mandatory disclosure or statement.

Read the summary on Congress.gov

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People & committees

Who introduced it

Rep. Sanders, Bernard [I-VT-At Large] · I–VT

Committees

Financial Services Committee

12 cosponsorship records, including any withdrawals

Legislative record

Actions

A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.

Aug 4, 2003
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
Jul 14, 2003
Referred to the House Committee on Financial Services.
Jul 14, 2003
Introduced in House
Jul 14, 2003
Introduced in House

Primary sources

Bill text & related measures

Text links open the official source. We currently store references to these documents.

Introduced in House · Jul 14, 2003 Formatted Text PDF

Related bills identified by Congress.gov

No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.

Source last updated: Aug 18, 2025. Consult Congress.gov for the current record.

AI Conversation Starters

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Neutral evidence review

Objective

Analyze H.R.2724 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

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Discuss H.R.2724, 108th Congress: Credit Bait and Switch Prevention Act

Official record: https://www.congress.gov/bill/108th-congress/house-bill/2724

Text version to examine: Introduced in House · 2003-07-14.

Official full text: https://www.congress.gov/108/bills/hr2724/BILLS-108hr2724ih.htm

Imported record last updated by the source: 2025-08-18T19:03:34Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Analyze H.R.2724 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

Fairness and public impact

Progressive lens

Examine H.R.2724 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

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Discuss H.R.2724, 108th Congress: Credit Bait and Switch Prevention Act

Official record: https://www.congress.gov/bill/108th-congress/house-bill/2724

Text version to examine: Introduced in House · 2003-07-14.

Official full text: https://www.congress.gov/108/bills/hr2724/BILLS-108hr2724ih.htm

Imported record last updated by the source: 2025-08-18T19:03:34Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.2724 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

Institutions and government scope

Conservative lens

Examine H.R.2724 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

View full prompt & sources

Discuss H.R.2724, 108th Congress: Credit Bait and Switch Prevention Act

Official record: https://www.congress.gov/bill/108th-congress/house-bill/2724

Text version to examine: Introduced in House · 2003-07-14.

Official full text: https://www.congress.gov/108/bills/hr2724/BILLS-108hr2724ih.htm

Imported record last updated by the source: 2025-08-18T19:03:34Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.2724 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

Individual rights and government power

Liberty lens

Examine H.R.2724 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

View full prompt & sources

Discuss H.R.2724, 108th Congress: Credit Bait and Switch Prevention Act

Official record: https://www.congress.gov/bill/108th-congress/house-bill/2724

Text version to examine: Introduced in House · 2003-07-14.

Official full text: https://www.congress.gov/108/bills/hr2724/BILLS-108hr2724ih.htm

Imported record last updated by the source: 2025-08-18T19:03:34Z. Verify current status and distinguish any later version from the version above.

Read the official text before answering. If you cannot access it, say so and ask me to provide it; do not assume a link means you have read the document. Distinguish proposals from enacted law, cite sources, and separate facts, interpretation, and uncertain predictions. Include counterarguments even when using a particular perspective.

Examine H.R.2724 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.