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S 381119th CongressIntroduced
10 Percent Credit Card Interest Rate Cap Act
Introduced: Oct 29, 2025
Standard Summary
Comprehensive overview in 1-2 paragraphs
The 10 Percent Credit Card Interest Rate Cap Act amends the Truth in Lending Act to cap credit card interest rates at 10% and includes strong enforcement provisions.
Key Points
- 1Caps credit card annual percentage rates at 10%, inclusive of all finance charges
- 2Prohibits using fees to evade the interest rate cap
- 3Provides for forfeiture of all interest for usurious rates
- 4Allows borrowers to recover excessive interest payments within 2 years
- 5Includes a sunset provision effective January 1, 2031
Impact Areas
Credit card consumers and borrowersCredit card industry and lendersConsumer protection and financial regulationHousehold debt and credit costs
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