By Mr. Patrick of Falmouth, petition (accompanied by bill, House, No. 283) of Matthew C. Patrick and others for legislation to further regulate the rate of interest charges on delinquent credit card accounts.  Consumer Protection and Professional Licensure.

The Commonwealth of Massachusetts

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PETITION OF:

Matthew C. Patrick

Louis L. Kafka

Douglas W. Petersen

Christopher G. Fallon

Jennifer L. Flanagan

James B. Eldridge

William Smitty Pignatelli

Joyce A. Spiliotis

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In the Year Two Thousand and Seven.

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An Act relative to 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:

   Section 12H of chapter 255 of the General Laws, as appearing in the 2002 Official Edition, by inserting after the word “balance” in line 21 the following, “or $10.00 whichever is less and the interest rate of a credit card shall not increase due to such delinquency.”