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HR 1944119th CongressIntroduced
10 Percent Credit Card Interest Rate Cap Act
Introduced: Oct 29, 2025
Financial Services
Standard Summary
Comprehensive overview in 1-2 paragraphs
The 10 Percent Credit Card Interest Rate Cap Act proposes to amend the Truth in Lending Act (TILA) by imposing a 10% annual percentage rate (APR) cap on credit card interest, restricting fees that evade this limit, and establishing penalties for violations, including forfeiture of interest and legal liability. The bill also allows consumers to recover overpaid interest within two years and includes a sunset clause removing these provisions by 2031.
Key Points
- 1Caps credit card annual percentage rates (APR) at 10% to limit consumer debt costs.
- 2Restricts additional fees to prevent evasion of the cap, ensuring total fees don't exceed finance charges.
- 3Imposes penalties on violators, including forfeiture of interest and legal liability under TILA.
Impact Areas
Consumers with credit card debtCredit card issuers and financial institutionsState regulators enforcing consumer protection laws
Generated by Legislative Analysis v2.1 on Nov 9, 2025