A Bill to impose requirements on lenders relating to the calculation of interest rates; to regulate the promotion of lending; and for connected purposes.
This Bill would prohibit credit card lenders from sending unsolicited offers of credit card cheques and require them to make clear customers' rights in potential cases of card payment default. It would also require the Secretary of State to specify 'a standard method of calculating interest rates' that card companies must use in their promotional literature.
House of Commons
29 October 2009
May contain errors — check source documents for definitive information.
The Lending (Regulation) Bill would require a standardised method for calculating interest rates used in lenders’ promotions and curb certain practices by credit card providers. It would also ban unsolicited offers of credit card cheques and require clear information about customers’ rights if a card payment is late or in default.
The bill is at the second reading in the House of Commons (originating in the Commons). The first reading was on 21 January 2009 and the second on 27 February 2009.
Generated 21 February 2026
21 Jan 2009
27 Feb 2009
The Bill was debated at Second Reading on 27 February. There was not enough time to complete the debate before the end of the Session and so the debate was adjourned.
Debate on the Bill was scheduled to be resumed on 15 May but having made no progress was withdrawn by its sponsor Russell Brown MP.
No recorded votes for this bill yet.
