United States · Bill · HR
H.R. 1944 (119th)
10 Percent Credit Card Interest Rate Cap Act
Introduced
6 March 2025
Last action
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Status
Referred to the House Committee on Financial Services.
Sponsors
—
Subjects
Discovery layer
Source updated
17 April 2026
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.
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Documents
2 official files
Introduced in House
Introduced in House
Introduced in House · EN · 6 March 2025
Introduced in House
summary · EN · 6 March 2025
Sponsors
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Sources
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- Official source: https://www.congress.gov/bill/119th-congress/house-bill/1944
- Open data entity: https://api.congress.gov/v3/bill/119/hr/1944