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
The Lending (Regulation) Bill would tighten how lenders promote credit cards and standardise how interest is shown. It would bar unsolicited offers of credit card cheques, require clearer disclosure of customers’ rights if a card payment is missed, and require the government to set a standard method for calculating promotional interest rates.
The Bill is currently at the second reading in the House of Commons. If it progresses, it would move to committee stage for detailed scrutiny.
Generated 21 February 2026
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Debate on the Bill was scheduled to be resumed on 15 May but having made no progress was withdrawn by its sponsor Russell Brown MP.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.
