To restore to the States the right to protect consumers from usurious lenders.

SA 3746. Mr. WHITEHOUSE (for himself, Mr. Merkley, Mr. Durbin, Mr.
Sanders, Mr. Levin, and Mr. Burris) submitted an amendment intended to
be proposed to amendment SA 3739 proposed by Mr. Reid (for Mr. Dodd
(for himself and Mrs. Lincoln)) to the bill S. 3217, to promote the
financial stability of the United States by improving accountability
and transparency in the financial system, to end ``too big to fail'',
to protect the American taxpayer by ending bailouts, to protect
consumers from abusive financial services practices, and for other
purposes; which was ordered to lie on the table; as follows:

On page 1320, strike line 23 and all that follows through
the end of the undesignated matter on page 1321 between lines
17 and 18 and insert the following:
``(g) Transparency of OCC Preemption Determinations.--The
Comptroller of the Currency shall publish and update not less
frequently than quarterly, a list of preemption
determinations by the Comptroller of the Currency then in
effect that identifies the activities and practices covered
by each determination and the requirements and constraints
determined to be preempted.''.
(b) Clerical Amendment.--The table of sections for chapter
one of title LXII of the Revised Statutes of the United
States is amended by inserting after the item relating to
section 5136B the following new item:

``Sec. 5136C. State law preemption standards for national banks and
subsidiaries clarified.''.
(c) Usurious Lenders.--Chapter 2 of the Truth in Lending
Act (15 U.S.C. 1631 et seq.) is amended by adding at the end
the following:

``SEC. 141. LIMITS ON ANNUAL PERCENTAGES RATES.

``Effective 12 months after the date of enactment of this
section, and notwithstanding any other provision of law, the
interest applicable to any consumer credit transaction (other
than a transaction that is secured by real property),
including any fees, points, or time-price differential
associated with such a transaction, may not exceed the
maximum permitted by any law of the State in which the
consumer resides. Nothing in this section may be construed to
preempt an otherwise applicable provision of State law
governing the interest in connection with a consumer credit
transaction that is secured by real property.''.

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