Sec. 1. 9-A MRSA §2-402, sub-§6 is enacted to read:

6.__Notwithstanding subsection 5, with respect to loans made pursuant to a lender credit card, a creditor may not impose an increase in the percentage rate used to determine the finance charge on an unpaid balance for that credit card solely based on credit information that the consumer is delinquent on payments related to other consumer credit transactions.

SUMMARY

This bill prohibits credit card lenders from increasing credit card rates for consumers in good standing based on credit information that the consumer is delinquent on payments related to other consumer credit transactions.