PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Economic Opportunity.
Congressional Research Service
Version 00 · Introduced in House · Jan 4, 2005
Servicemembers Anti-Predatory Lending Protection Act - Amends the Servicemembers Civil Relief Act to set forth terms for consumer credit extended to a servicemember or servicemember's dependent, including terms of interest with respect to the extension of such credit.
Prohibits a creditor from imposing an annual percentage rate greater than 36 percent with respect to the consumer credit extended.
Sets forth mandatory loan disclosures, including: (1) a statement of the annual percentage rate applicable to the extension of credit; and (2) a clear description of the payment obligations.
Showing the opening paragraphs of the official summary.
Prohibits a creditor from automatically renewing, repaying, refinancing, or consolidating any consumer credit with the proceeds of other credit extended to a servicemember or a servicemember's dependent by the same creditor without: (1) executing new loan documentation signed by the servicemember; and (2) providing the mandatory loan disclosures.
Preempts any State or Federal law, rule, or regulation, including any State usury law, to the extent that it is inconsistent with this Act. States that this Act does not preempt any such law, rule, or regulation that provides additional protection.
Prescribes criminal penalties for violation of this Act.
People & committees
Rep. Graves, Sam [R-MO-6] · R–MO
Legislative record
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Referred to the Subcommittee on Economic Opportunity.
Referred to the House Committee on Veterans' Affairs.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Aug 15, 2025. Consult Congress.gov for the current record.
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