To amend section 502(b) of title 11, United States code, to limit usurious claims in bankruptcy.

1. Rewrites page 45, lines 22–24

   ReplacesPrinted page

   Removes page 45, lines 22–24 of the printed bill. See that page

   Inserted: (a) Reduction of Claim.--Section 502 of title 11, United States Code, is amended--

   Inserted: (1) in subsection (b)--

   Inserted: (A) in paragraph (8), by striking "or" at the end;

   Inserted: (B) in paragraph (9), by striking the period at the end and inserting "; or"; and

   Inserted: (C) by adding at the end the following:

   Inserted: "(10) such claim is for a credit transaction involving a consumer (as defined in section 103(h) of the Truth in Lending Act (15 U.S.C. 1602(g))), and the interest included as part of such claim exceeds the maximum amount allowed by the laws of the State, Territory, or District in which the debtor resides."; and

   Inserted: (2) by adding at the end the following:

   Original wording

   On page 45, strike lines 22 through 24, and insert the following:

Read automatically from the Congressional Record. Check the original before relying on it.

As printed