; (6) a national maximum interest rate that includes all forms of fees and closes all loopholes is necessary to eliminate such predatory lending; and (7) alternatives to predatory lending that encourage small dollar loans with minimal or no fees, installment payment schedules, and affordable repayment periods should be encouraged. 3. National maximum interest rate Chapter 2 of the Truth in Lending Act ( 15 U.S.C. 1631 et seq.) is amended by adding at the end the following: 140B. Maximum rates of interest (a) In general Notwithstanding any other provision of law, a creditor may not make an extension of credit to a consumer with respect to which the fee and interest rate, as defined in subsection (b), exceeds 36 percent. (b) Fee and interest rate defined (1) In general For purposes of this section, the term fee and interest rate includes all charges payable (directly or indirectly) that are incident to, ancillary to, or as a condition of an extension of credit, including— (A) any payment compensating a creditor or prospective creditor for— (i) an extension of credit or making available a line of credit, such as fees connected with credit extension or availability (including numerical periodic rates, annual fees, cash advance fees, and membership fees); or (ii) any fees for default or breach by a borrower of a condition upon which credit was extended, such as late fees, creditor-imposed fees charged when a borrower tenders payment on a debt with a check drawn on insufficient funds, overdraft fees, and over limit fees; (B) all fees which constitute a finance charge, as defined by rules of the Bureau in accordance with this title; (C) credit insurance premiums, whether optional or required