Bill Detail
H.R. 1944
Congress: 119
Title
10 Percent Credit Card Interest Rate Cap Act
Summary
10 Percent Credit Card Interest Rate Cap Act This bill temporarily caps credit card interest rates at 10%. Creditors that knowingly violate this bill forfeit the entire interest of the debt. The bill also provides a private right of action for debtors to recover interest, finance charges, or fees. The action must be brought within two years of the violation. In addition, violations of this bill are subject to civil liability under the Truth in Lending Act, which is enforced by the Consumer Financial Protection Bureau and the Federal Trade Commission. These changes sunset on January 1, 2031.
Sponsor
Rep. Alexandria Ocasio-Cortez [D-NY-14]
Status
Referred to the House Committee on Financial Services.
Status as of Aug 14, 2:44 AM · synced 11h ago
Introduced
2025-03-06
Data source mode: cache
Carried by these fly-ins
1Sep 15, 2026 – Sep 17, 2026 · Washington, DC
Hosted by Michigan Credit Union League
Bill Engagement
10 Percent Credit Card Interest Rate Cap Act This bill temporarily caps credit card interest rates at 10%. Creditors that knowingly violate this bill forfeit the entire interest…
Lobbyists on the case
- American Bankers Association5 filings · 26 lobs
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